Maximus, Inc. (MMS) Shares Sold by Bank of Montreal Can
Bank of Montreal Can decreased its stake in Maximus, Inc. (NYSE:MMS) by 67.1% during the second quarter, Holdings Channel reports. The institutional investor owned 41,205 shares of the health services provider’s stock after selling 83,879 shares during the period. Bank of Montreal Can’s holdings in Maximus were worth $2,581,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of MMS. Neuburgh Advisers LLC raised its position in shares of Maximus by 1.9% in the first quarter. Neuburgh Advisers LLC now owns 1,696 shares of the health services provider’s stock valued at $105,000 after buying an additional 32 shares in the last quarter. Acrospire Investment Management LLC raised its position in shares of Maximus by 183.3% in the first quarter. Acrospire Investment Management LLC now owns 1,700 shares of the health services provider’s stock valued at $106,000 after buying an additional 1,100 shares in the last quarter. Glen Harbor Capital Management LLC raised its position in shares of 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 in the last quarter. Elkfork Partners LLC raised its position in shares of Maximus by 1.9% in the first quarter. Elkfork Partners LLC now owns 2,968 shares of the health services provider’s stock valued at $185,000 after buying an additional 56 shares in the last quarter. Finally, Violich Capital Management Inc. bought a new position in shares of Maximus during the first quarter valued at about $217,000. 97.89% of the stock is currently owned by institutional investors and hedge funds.
Maximus, Inc. (MMS) traded down 0.23% on Thursday, reaching $60.09. 87,580 shares of the company’s stock traded hands. The company has a market cap of $3.90 billion, a PE ratio of 19.26 and a beta of 1.39. Maximus, Inc. has a 12 month low of $43.69 and a 12 month high of $64.97. The firm’s 50 day moving average price is $61.34 and its 200 day moving average price is $60.84.
Maximus (NYSE:MMS) last posted its earnings results on Thursday, August 3rd. The health services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. The firm had revenue of $600.40 million during the quarter, compared to the consensus estimate of $614.12 million. Maximus had a return on equity of 25.08% and a net margin of 8.43%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. On average, equities analysts expect that Maximus, Inc. will post $3.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.045 per share. The ex-dividend date is Friday, August 11th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.30%. Maximus’s dividend payout ratio is currently 5.73%.
Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Maximus from a “buy” rating to a “hold” rating in a research note on Wednesday. Maxim Group set a $66.00 target price on shares of Maximus and gave the stock a “hold” rating in a research note on Thursday, August 3rd. BidaskClub lowered shares of Maximus from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. KeyCorp reissued a “sector weight” rating on shares of Maximus in a research note on Thursday, May 25th. Finally, ValuEngine lowered shares of Maximus from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $62.17.
In other news, insider Mark Andrekovich sold 8,939 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $64.01, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Bruce Caswell sold 8,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $60.97, for a total value of $487,760.00. Following the transaction, the president now owns 35,904 shares of the company’s stock, valued at $2,189,066.88. The disclosure for this sale can be found here. Insiders have sold a total of 92,439 shares of company stock valued at $5,799,825 over the last quarter. Corporate 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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