Connor Clark & Lunn Investment Management Ltd. lifted its stake in HMS Holdings Corp (NASDAQ:HMSY) by 250.5% during the third quarter, Holdings Channel reports. The institutional investor owned 50,125 shares of the business services provider’s stock after acquiring an additional 35,825 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in HMS were worth $1,645,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Bellevue Group AG lifted its position in shares of HMS by 55.4% in the third quarter. Bellevue Group AG now owns 227,020 shares of the business services provider’s stock valued at $7,449,000 after acquiring an additional 80,951 shares in the last quarter. Panagora Asset Management Inc. lifted its position in shares of HMS by 17.8% in the third quarter. Panagora Asset Management Inc. now owns 534,850 shares of the business services provider’s stock valued at $17,548,000 after acquiring an additional 80,704 shares in the last quarter. Carillon Tower Advisers Inc. lifted its position in shares of HMS by 2.0% in the third quarter. Carillon Tower Advisers Inc. now owns 149,577 shares of the business services provider’s stock valued at $4,908,000 after acquiring an additional 2,931 shares in the last quarter. FMR LLC purchased a new position in shares of HMS in the third quarter valued at approximately $27,949,000. Finally, Rafferty Asset Management LLC purchased a new position in shares of HMS in the third quarter valued at approximately $814,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.
NASDAQ:HMSY opened at $34.49 on Friday. HMS Holdings Corp has a one year low of $14.88 and a one year high of $38.15. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $2.89 billion, a P/E ratio of 80.21, a P/E/G ratio of 3.69 and a beta of 1.35.
HMS (NASDAQ:HMSY) last posted its quarterly earnings results on Friday, November 2nd. The business services provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.21 by $0.10. HMS had a return on equity of 10.63% and a net margin of 8.01%. The firm had revenue of $154.20 million during the quarter, compared to analysts’ expectations of $140.93 million. During the same quarter last year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. As a group, equities research analysts anticipate that HMS Holdings Corp will post 0.85 earnings per share for the current year.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded HMS from a “hold” rating to a “strong-buy” rating and set a $41.00 target price on the stock in a research report on Thursday, November 8th. BidaskClub raised HMS from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 7th. Cantor Fitzgerald increased their price target on HMS to $31.00 and gave the company a “neutral” rating in a report on Monday, November 5th. First Analysis raised HMS from a “neutral” rating to an “outperform” rating and increased their price target for the company from $31.00 to $38.00 in a report on Sunday, November 4th. Finally, Chardan Capital started coverage on HMS in a report on Thursday, September 13th. They issued a “neutral” rating and a $35.00 price target for the company. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. HMS has an average rating of “Buy” and an average price target of $33.90.
In other HMS news, Director William F. Miller III sold 5,877 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $34.61, for a total transaction of $203,402.97. Following the completion of the sale, the director now owns 170,656 shares of the company’s stock, valued at $5,906,404.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Greg D. Aunan sold 6,725 shares of the firm’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $35.76, for a total value of $240,486.00. Following the sale, the senior vice president now directly owns 38,991 shares of the company’s stock, valued at approximately $1,394,318.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 864,761 shares of company stock valued at $30,211,427. Insiders own 3.20% of the company’s stock.
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HMS Company Profile
HMS Holdings Corp., through its subsidiaries, provides cost containment solutions in the United States healthcare marketplace. It provides coordination of benefits services to government and commercial healthcare payers and sponsors to coordinate benefits for claims; and payment integrity services that ensure healthcare claims billed are accurate and appropriate, as well as offers care management and consumer engagement solutions.
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