Essex Investment Management Co. LLC Sells 99 Shares of Maximus Inc. (MMS)
Essex Investment Management Co. LLC cut its stake in shares of Maximus Inc. (NYSE:MMS) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,542 shares of the company’s stock after selling 99 shares during the period. Essex Investment Management Co. LLC’s holdings in Maximus were worth $418,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Bank of Montreal Can bought a new stake in shares of Maximus during the second quarter valued at about $13,446,000. State Street Corp boosted its stake in shares of Maximus by 0.9% in the first quarter. State Street Corp now owns 2,113,848 shares of the company’s stock valued at $111,276,000 after buying an additional 17,949 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Maximus by 0.7% in the first quarter. Wellington Management Group LLP now owns 1,126,578 shares of the company’s stock valued at $59,303,000 after buying an additional 7,330 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of Maximus by 32.9% in the first quarter. BlackRock Group LTD now owns 47,817 shares of the company’s stock valued at $2,518,000 after buying an additional 11,844 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its stake in shares of Maximus by 16.9% in the second quarter. Capstone Asset Management Co. now owns 7,262 shares of the company’s stock valued at $402,000 after buying an additional 1,050 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.
Shares of Maximus Inc. (NYSE:MMS) traded down 0.91% during trading on Friday, hitting $54.60. The company’s stock had a trading volume of 468,431 shares. The firm’s 50 day moving average price is $57.40 and its 200-day moving average price is $55.79. The company has a market cap of $3.54 billion, a PE ratio of 22.31 and a beta of 1.15. Maximus Inc. has a 52 week low of $45.15 and a 52 week high of $69.85.
Maximus (NYSE:MMS) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. Maximus had a net margin of 6.91% and a return on equity of 23.89%. The firm earned $617.10 million during the quarter, compared to analysts’ expectations of $625.62 million. During the same period in the prior year, the company earned $0.62 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. On average, analysts predict that Maximus Inc. will post $2.65 earnings per share for the current year.
A number of analysts have weighed in on the company. Zacks Investment Research cut Maximus from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. KeyCorp assumed coverage on Maximus in a research note on Monday, July 11th. They issued a “buy” rating on the stock. Finally, Maxim Group raised their price target on Maximus from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $63.00.
In related news, General Counsel David Francis sold 1,500 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $58.91, for a total transaction of $88,365.00. Following the completion of the sale, the general counsel now directly owns 23,436 shares of the company’s stock, valued at approximately $1,380,614.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Bruce Caswell sold 30,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $58.98, for a total transaction of $1,769,400.00. Following the sale, the president now directly owns 39,386 shares of the company’s stock, valued at $2,322,986.28. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.
Maximus Company Profile
MAXIMUS, Inc provides business process services (BPS) to Government health and human services agencies. The Company is primarily focused on operating Government-sponsored programs, such as Medicaid, children’s health insurance program (CHIP), health insurance exchanges and other health care reform initiatives, Medicare, welfare-to-work, child support services and other Government programs.
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