Texas Permanent School Fund Raises Position in Maximus, Inc. (NYSE:MMS)
Texas Permanent School Fund raised its position in shares of Maximus, Inc. (NYSE:MMS) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,327 shares of the health services provider’s stock after buying an additional 401 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Maximus worth $2,964,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Maximus by 22,491.0% in the first quarter. BlackRock Inc. now owns 6,503,511 shares of the health services provider’s stock worth $404,518,000 after buying an additional 6,474,723 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Maximus by 49.5% in the first quarter. Clearbridge Investments LLC now owns 2,004,270 shares of the health services provider’s stock worth $124,666,000 after buying an additional 663,189 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of Maximus by 14.7% in the first quarter. William Blair Investment Management LLC now owns 4,416,279 shares of the health services provider’s stock worth $274,693,000 after buying an additional 566,292 shares in the last quarter. Columbia Wanger Asset Management LLC boosted its stake in shares of Maximus by 115.7% in the first quarter. Columbia Wanger Asset Management LLC now owns 787,691 shares of the health services provider’s stock worth $48,994,000 after buying an additional 422,499 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Maximus by 8.0% in the first quarter. Vanguard Group Inc. now owns 5,538,187 shares of the health services provider’s stock worth $344,476,000 after buying an additional 411,521 shares in the last quarter. 97.89% of the stock is owned by institutional investors and hedge funds.
Shares of Maximus, Inc. (MMS) opened at 61.06 on Monday. The stock has a 50 day moving average of $61.91 and a 200-day moving average of $60.73. Maximus, Inc. has a 52 week low of $43.69 and a 52 week high of $64.97. The stock has a market capitalization of $3.96 billion, a PE ratio of 20.02 and a beta of 1.39.
Maximus (NYSE:MMS) last posted its earnings results on Thursday, August 3rd. The health services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.03. Maximus had a net margin of 8.43% and a return on equity of 25.08%. The firm had revenue of $600.40 million during the quarter, compared to analysts’ expectations of $614.12 million. During the same period in the previous year, the business posted $0.79 EPS. The business’s revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts expect that Maximus, Inc. will post $3.06 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be paid a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Friday, August 11th. Maximus’s dividend payout ratio is currently 5.73%.
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A number of analysts have commented on MMS shares. Canaccord Genuity cut shares of Maximus from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a report on Tuesday, July 4th. Jefferies Group LLC cut shares of Maximus from a “buy” rating to a “hold” rating and upped their target price for the company from $63.00 to $64.00 in a report on Friday, May 5th. Maxim Group cut shares of Maximus from a “buy” rating to a “hold” rating and set a $66.00 target price for the company. in a report on Thursday, May 4th. They noted that the move was a valuation call. ValuEngine cut shares of Maximus from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Maximus in a report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $62.17.
In related news, insider Mark Andrekovich sold 8,939 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $64.01, for a total value of $572,185.39. Following the completion of the transaction, the insider now directly owns 24,583 shares in the company, valued at approximately $1,573,557.83. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Bruce Caswell sold 17,197 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $62.47, for a total transaction of $1,074,296.59. Following the completion of the transaction, the president now owns 27,904 shares of the company’s stock, valued at $1,743,162.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,846 shares of company stock valued at $7,381,746. Company insiders own 3.10% of the company’s stock.
MAXIMUS, Inc provides business process services (BPS) to government health and human services agencies. The Company operates through three segments: U.S. Federal Services, Health Services and Human Services. The U.S. Federal Services segment provides BPS and program management for large government programs, independent health review and appeals services for both the United States Federal Government, and state-based programs and technology solutions for civilian federal programs.
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