Maximus, Inc. (NYSE:MMS) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Maximus, Inc. (NYSE:MMS) from a hold rating to a buy rating in a research note issued to investors on Saturday. Zacks Investment Research currently has $68.00 target price on the health services provider’s stock.
According to Zacks, “MAXIMUS, Inc. is an extremely dynamic and complex organization that offers government and industry a range of unique services, products, and solutions. The diverse services and products that MAXIMUS offers may be categorized into three groups: Government Program Management and Operations, Consulting, and Systems. Government Program Management and Operations focuses on having a measurable impact on the lives of the citizens we help government serve. The insights of MAXIMUS Consulting, and the technological innovations advanced through Systems, help government gain program efficiencies and pursue improvements that in turn benefit citizens. “
Several other brokerages have also recently issued reports on MMS. KeyCorp reissued a sector weight rating on shares of Maximus in a report on Thursday, May 25th. ValuEngine cut Maximus from a buy rating to a hold rating in a report on Tuesday, May 16th. Canaccord Genuity cut Maximus from a buy rating to a hold rating and set a $62.00 price objective for the company. in a report on Tuesday, July 4th. BidaskClub cut Maximus from a strong-buy rating to a buy rating in a report on Thursday, July 6th. Finally, Jefferies Group LLC cut Maximus from a buy rating to a hold rating and boosted their price objective for the company from $63.00 to $64.00 in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Maximus has a consensus rating of Hold and a consensus price target of $62.17.
Shares of Maximus (NYSE MMS) opened at 61.50 on Friday. Maximus has a 52-week low of $43.69 and a 52-week high of $64.97. The stock has a market cap of $3.99 billion, a PE ratio of 20.16 and a beta of 1.39. The company’s 50 day moving average price is $61.91 and its 200 day moving average price is $60.73.
Maximus (NYSE:MMS) last issued its quarterly earnings data on Thursday, August 3rd. The health services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The business had revenue of $600.40 million during the quarter, compared to analysts’ expectations of $614.12 million. Maximus had a return on equity of 25.08% and a net margin of 8.43%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. On average, analysts anticipate that Maximus will post $3.09 earnings per share for the current year.
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The firm also recently declared 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. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.18 annualized dividend and a dividend yield of 0.29%. Maximus’s dividend payout ratio is presently 5.73%.
In related news, General Counsel David Francis sold 1,000 shares of Maximus stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $63.14, for a total value of $63,140.00. Following the completion of the transaction, the general counsel now owns 18,716 shares in the company, valued at approximately $1,181,728.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Bruce Caswell sold 17,197 shares of Maximus stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $62.47, for a total value 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 approximately $1,743,162.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,636 shares of company stock valued at $6,874,122. 3.10% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Shell Asset Management Co. purchased a new stake in Maximus during the first quarter valued at approximately $542,000. Glen Harbor Capital Management LLC raised its stake in Maximus by 1.9% in the first quarter. Glen Harbor Capital Management LLC now owns 2,332 shares of the health services provider’s stock valued at $145,000 after buying an additional 44 shares during the period. Meritage Portfolio Management purchased a new stake in Maximus during the first quarter valued at approximately $5,668,000. Nationwide Fund Advisors raised its stake in Maximus by 16.9% in the first quarter. Nationwide Fund Advisors now owns 357,173 shares of the health services provider’s stock valued at $22,216,000 after buying an additional 51,639 shares during the period. Finally, Navellier & Associates Inc raised its stake in Maximus by 10.9% in the first quarter. Navellier & Associates Inc now owns 8,737 shares of the health services provider’s stock valued at $543,000 after buying an additional 856 shares during the period. Hedge funds and other institutional investors own 97.89% of the company’s stock.
Maximus Company Profile
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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