Maximus Inc. (MMS) Shares Gap Up to $56.26
Maximus Inc. (NYSE:MMS) shares gapped up prior to trading on Friday . The stock had previously closed at $55.93, but opened at $56.26. Maximus shares last traded at $57.72, with a volume of 160,408 shares.
Several research analysts recently issued reports on the company. Wells Fargo & Co. reissued a “buy” rating on shares of Maximus in a research note on Tuesday, May 24th. Jefferies Group increased their price objective on Maximus from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, May 31st. Avondale Partners cut Maximus from a “market outperform” rating to a “market perform” rating and dropped their price objective for the stock from $65.00 to $58.00 in a research note on Wednesday, April 6th. Zacks Investment Research cut Maximus from a “hold” rating to a “sell” rating in a research note on Friday, April 8th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Maximus in a research note on Saturday, April 9th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $65.00.
The company’s 50 day moving average is $55.93 and its 200 day moving average is $52.84. The firm has a market capitalization of $3.76 billion and a PE ratio of 25.31.
Maximus (NYSE:MMS) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.12. The firm had revenue of $606.50 million for the quarter, compared to analysts’ expectations of $600.99 million. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. Equities research analysts expect that Maximus Inc. will post $2.61 earnings per share for the current year.
In other Maximus news, Director Paul R. Lederer sold 6,750 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $54.78, for a total value of $369,765.00. Following the sale, the director now owns 75,174 shares of the company’s stock, valued at $4,118,031.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Wellington E. Webb sold 560 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $56.95, for a total value of $31,892.00. The disclosure for this sale can be found here.
A number of hedge funds have recently made changes to their positions in MMS. Advisors Asset Management Inc. raised its stake in shares of Maximus by 8.5% in the fourth quarter. Advisors Asset Management Inc. now owns 22,739 shares of the company’s stock worth $1,279,000 after buying an additional 1,779 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Maximus by 1.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 24,496 shares of the company’s stock worth $1,381,000 after buying an additional 400 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Maximus during the fourth quarter worth about $1,451,000. Morgan Stanley raised its stake in shares of Maximus by 6.3% in the fourth quarter. Morgan Stanley now owns 39,362 shares of the company’s stock worth $2,215,000 after buying an additional 2,324 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Maximus by 24.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 45,013 shares of the company’s stock worth $2,531,000 after buying an additional 8,765 shares during the last quarter.
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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