Driehaus Capital Management LLC lowered its position in shares of Civitas Solutions Inc (NYSE:CIVI) by 61.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,569 shares of the company’s stock after selling 26,800 shares during the quarter. Driehaus Capital Management LLC’s holdings in Civitas Solutions were worth $283,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CIVI. Vanguard Group Inc. increased its holdings in Civitas Solutions by 1.0% in the second quarter. Vanguard Group Inc. now owns 719,953 shares of the company’s stock valued at $12,600,000 after purchasing an additional 7,218 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Civitas Solutions by 63.1% in the third quarter. Wells Fargo & Company MN now owns 16,825 shares of the company’s stock valued at $311,000 after purchasing an additional 6,509 shares during the last quarter. First Quadrant L P CA increased its holdings in Civitas Solutions by 56.6% in the fourth quarter. First Quadrant L P CA now owns 21,146 shares of the company’s stock valued at $362,000 after purchasing an additional 7,646 shares during the last quarter. Northern Trust Corp increased its holdings in Civitas Solutions by 19.2% in the second quarter. Northern Trust Corp now owns 243,499 shares of the company’s stock valued at $4,261,000 after purchasing an additional 39,301 shares during the last quarter. Finally, Bessemer Group Inc. bought a new stake in Civitas Solutions in the third quarter valued at about $336,000. Institutional investors own 94.61% of the company’s stock.
A number of equities research analysts recently commented on CIVI shares. Canaccord Genuity reiterated a “buy” rating and issued a $27.00 price objective on shares of Civitas Solutions in a report on Wednesday, December 13th. Zacks Investment Research downgraded Civitas Solutions from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Citigroup upgraded Civitas Solutions to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, February 2nd. They noted that the move was a valuation call. SunTrust Banks set a $21.00 price target on Civitas Solutions and gave the stock a “buy” rating in a report on Thursday, December 21st. Finally, Raymond James Financial upgraded Civitas Solutions from a “market perform” rating to an “outperform” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $20.00.
Shares of Civitas Solutions Inc (NYSE CIVI) opened at $14.90 on Friday. Civitas Solutions Inc has a fifty-two week low of $11.15 and a fifty-two week high of $19.90. The stock has a market capitalization of $555.69, a PE ratio of 16.63, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.99.
Civitas Solutions (NYSE:CIVI) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.17. Civitas Solutions had a return on equity of 19.77% and a net margin of 0.76%. The company had revenue of $395.42 million during the quarter, compared to the consensus estimate of $390.05 million. sell-side analysts predict that Civitas Solutions Inc will post 0.85 EPS for the current fiscal year.
Civitas Solutions announced that its Board of Directors has initiated a stock repurchase program on Thursday, February 8th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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Civitas Solutions Company Profile
Civitas Solutions, Inc is a provider of home- and community-based health and human services to individuals with intellectual, developmental, physical or behavioral disabilities and other special needs. The Company operates through two segments: Human Services and Post-Acute Specialty Rehabilitation Services (SRS).
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