PNC Financial Services Group Inc. decreased its stake in shares of MAXIMUS, Inc. (NYSE:MMS) by 36.3% during the 1st quarter, Holdings Channel reports. The firm owned 4,387 shares of the health services provider’s stock after selling 2,499 shares during the period. PNC Financial Services Group Inc.’s holdings in MAXIMUS were worth $292,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of MMS. Meeder Asset Management Inc. increased its position in shares of MAXIMUS by 411.7% during the 1st quarter. Meeder Asset Management Inc. now owns 1,612 shares of the health services provider’s stock worth $108,000 after purchasing an additional 1,297 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in shares of MAXIMUS during the 4th quarter worth approximately $163,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of MAXIMUS during the 1st quarter worth approximately $205,000. Zeke Capital Advisors LLC acquired a new position in shares of MAXIMUS during the 4th quarter worth approximately $222,000. Finally, First National Bank of Omaha acquired a new position in shares of MAXIMUS during the 1st quarter worth approximately $225,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.
MAXIMUS opened at $63.69 on Wednesday, Marketbeat reports. The company has a market cap of $4.12 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 2.44 and a beta of 1.11. MAXIMUS, Inc. has a 1-year low of $58.58 and a 1-year high of $72.71.
MAXIMUS (NYSE:MMS) last posted its earnings results on Thursday, May 10th. The health services provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $612.79 million for the quarter, compared to analyst estimates of $617.97 million. MAXIMUS had a return on equity of 21.67% and a net margin of 9.15%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. analysts anticipate that MAXIMUS, Inc. will post 3.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 31st. Investors of record on Tuesday, May 15th were issued a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Monday, May 14th. MAXIMUS’s payout ratio is presently 5.94%.
In related news, Director Russell A. Beliveau sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $66.55, for a total transaction of $66,550.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.48% of the stock is currently owned by insiders.
A number of research firms recently weighed in on MMS. Zacks Investment Research lowered MAXIMUS from a “buy” rating to a “hold” rating in a report on Thursday, April 12th. First Analysis raised MAXIMUS from an “equal” rating to a “weight” rating and boosted their target price for the stock from $73.00 to $81.00 in a report on Tuesday, May 8th. Finally, Canaccord Genuity decreased their target price on MAXIMUS from $65.00 to $64.00 and set a “hold” rating on the stock in a report on Friday, May 11th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. MAXIMUS currently has an average rating of “Hold” and an average price target of $71.00.
MAXIMUS, Inc provides business process services (BPS) to government health and human services programs in the United States, the United Kingdom, Australia, Canada, Singapore, and Saudi Arabia. The company's Health Services segment offers various BPS, appeals, and assessments, as well as related consulting services for state, provincial, and national government programs comprising Medicaid, Children's Health Insurance Program, the Affordable Care Act, Health Insurance British Columbia, the Health Assessment Advisory Service, and Preadmission Screening and Resident Reviews.
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