Epoch Investment Partners Inc. acquired a new position in MAXIMUS, Inc. (NYSE:MMS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 407,204 shares of the health services provider’s stock, valued at approximately $26,493,000.
A number of other institutional investors have also bought and sold shares of MMS. Bruderman Asset Management LLC acquired a new position in MAXIMUS in the second quarter worth $119,000. Fort L.P. acquired a new position in shares of MAXIMUS during the second quarter valued at $120,000. Tower Research Capital LLC TRC lifted its stake in shares of MAXIMUS by 72.4% during the second quarter. Tower Research Capital LLC TRC now owns 4,061 shares of the health services provider’s stock valued at $253,000 after acquiring an additional 1,706 shares during the period. Engineers Gate Manager LP acquired a new position in shares of MAXIMUS during the third quarter valued at $254,000. Finally, Commonwealth Bank of Australia acquired a new position in shares of MAXIMUS during the third quarter valued at $273,000. 93.29% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on MMS. ValuEngine raised MAXIMUS from a “hold” rating to a “buy” rating in a research note on Friday, November 30th. Zacks Investment Research raised MAXIMUS from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Friday, November 23rd. Finally, Canaccord Genuity upped their price target on MAXIMUS from $64.00 to $67.00 and gave the company a “hold” rating in a research note on Wednesday, October 10th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $72.00.
Shares of MMS opened at $69.86 on Friday. MAXIMUS, Inc. has a 12-month low of $60.00 and a 12-month high of $72.71. The firm has a market cap of $4.54 billion, a PE ratio of 20.55, a PEG ratio of 1.93 and a beta of 1.03.
MAXIMUS (NYSE:MMS) last issued its quarterly earnings results on Tuesday, November 20th. The health services provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). MAXIMUS had a net margin of 9.23% and a return on equity of 20.23%. The firm had revenue of $558.50 million for the quarter, compared to analyst estimates of $587.58 million. During the same period last year, the company earned $0.81 EPS. The company’s revenue was down 10.0% compared to the same quarter last year. Analysts forecast that MAXIMUS, Inc. will post 3.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Wednesday, November 14th. This is a positive change from MAXIMUS’s previous quarterly dividend of $0.05. MAXIMUS’s dividend payout ratio is 29.41%.
In related news, Vice Chairman Richard A. Montoni sold 30,000 shares of the company’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $72.03, for a total value of $2,160,900.00. Following the completion of the sale, the insider now owns 429,874 shares in the company, valued at $30,963,824.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Richard A. Montoni sold 44,002 shares of the company’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $64.99, for a total value of $2,859,689.98. Following the completion of the sale, the insider now owns 493,476 shares of the company’s stock, valued at approximately $32,071,005.24. The disclosure for this sale can be found here. Insiders sold 133,124 shares of company stock valued at $9,005,450 in the last quarter. 3.10% of the stock is currently owned by corporate insiders.
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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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