The Providence Service (PRSC) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of The Providence Service (NASDAQ:PRSC) from a sell rating to a hold rating in a research note issued to investors on Thursday, January 4th.

According to Zacks, “Providence Service Corporation provides human services and non-emergency transportation (NET) management services to children, adolescents, young adults, and families. The Company focuses on providing its social services in the client’s home or in community-based settings. It provides its NET management services through local transportation providers. The company’s services are reimbursed by government programs such as welfare, juvenile justice, Medicaid or corrections. Providence Service Corporation is based in Tucson, Arizona. “

A number of other brokerages have also commented on PRSC. Barrington Research reissued an outperform rating and issued a $67.00 price target on shares of The Providence Service in a report on Thursday, November 9th. TheStreet raised shares of The Providence Service from a c+ rating to a b rating in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $67.00.

The Providence Service (PRSC) opened at $64.49 on Thursday. The Providence Service has a 52-week low of $35.65 and a 52-week high of $65.82. The firm has a market cap of $860.33, a P/E ratio of 11.56, a PEG ratio of 2.74 and a beta of 0.89.

The Providence Service (NASDAQ:PRSC) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $409.50 million for the quarter, compared to analysts’ expectations of $407.00 million. The Providence Service had a net margin of 4.91% and a return on equity of 6.29%. The Providence Service’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. equities analysts anticipate that The Providence Service will post 1.35 EPS for the current year.

In other The Providence Service news, Director Coliseum Capital Management, L sold 314,605 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $56.07, for a total value of $17,639,902.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard A. Kerley sold 3,500 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $59.07, for a total transaction of $206,745.00. Following the completion of the sale, the director now directly owns 33,152 shares in the company, valued at approximately $1,958,288.64. The disclosure for this sale can be found here. 18.93% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Convergence Investment Partners LLC purchased a new stake in shares of The Providence Service in the 4th quarter worth about $1,418,000. OxFORD Asset Management LLP lifted its position in shares of The Providence Service by 7.8% in the 3rd quarter. OxFORD Asset Management LLP now owns 34,783 shares of the company’s stock worth $1,882,000 after purchasing an additional 2,528 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of The Providence Service by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 962,573 shares of the company’s stock worth $52,056,000 after purchasing an additional 26,060 shares during the period. Neumeier Poma Investment Counsel LLC lifted its position in shares of The Providence Service by 68.0% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 369,470 shares of the company’s stock worth $19,981,000 after purchasing an additional 149,500 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of The Providence Service by 55.0% in the 3rd quarter. Wells Fargo & Company MN now owns 14,347 shares of the company’s stock worth $776,000 after purchasing an additional 5,091 shares during the period. 95.34% of the stock is currently owned by institutional investors and hedge funds.

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The Providence Service Company Profile

The Providence Service Corporation (Providence) is a holding company. The Company, through its subsidiaries, is engaged in the provision of healthcare and workforce development services for public and private sector entities. The Company’s segments include Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Matrix Investment.

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