American Century Companies Inc. increased its stake in shares of The Providence Service Co. (NASDAQ:PRSC) by 25.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 297,985 shares of the company’s stock after acquiring an additional 60,471 shares during the period. American Century Companies Inc. owned about 2.24% of The Providence Service worth $17,682,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its holdings in The Providence Service by 2.2% during the third quarter. Prudential Financial Inc. now owns 122,869 shares of the company’s stock worth $6,645,000 after acquiring an additional 2,690 shares in the last quarter. Vanguard Group Inc. increased its position in The Providence Service by 0.9% during the second quarter. Vanguard Group Inc. now owns 661,798 shares of the company’s stock worth $33,493,000 after buying an additional 6,099 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in The Providence Service by 13.4% during the second quarter. Parametric Portfolio Associates LLC now owns 22,042 shares of the company’s stock worth $1,116,000 after buying an additional 2,608 shares during the last quarter. Macquarie Group Ltd. acquired a new position in The Providence Service during the third quarter worth approximately $413,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in The Providence Service during the second quarter worth approximately $1,417,000. Institutional investors and hedge funds own 96.28% of the company’s stock.
In other news, Director Richard A. Kerley sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $59.07, for a total value of $206,745.00. Following the transaction, the director now owns 33,152 shares of the company’s stock, valued at $1,958,288.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Coliseum Capital Management, L sold 314,605 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. 18.93% of the stock is owned by insiders.
The Providence Service Co. (NASDAQ PRSC) opened at $63.81 on Friday. The firm has a market capitalization of $843.44, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 2.68 and a beta of 0.89. The Providence Service Co. has a 12-month low of $38.04 and a 12-month high of $66.19.
A number of equities analysts have weighed in on PRSC shares. TheStreet raised The Providence Service from a “c+” rating to a “b” rating in a research report on Tuesday, November 7th. BidaskClub raised The Providence Service from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Zacks Investment Research raised The Providence Service from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Barrington Research reissued an “outperform” rating and set a $67.00 price target on shares of The Providence Service in a research report on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $67.00.
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About The Providence Service
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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