NGAM Advisors L.P. Cuts Stake in Maximus, Inc. (NYSE:MMS)
NGAM Advisors L.P. decreased its position in Maximus, Inc. (NYSE:MMS) by 23.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,895 shares of the health services provider’s stock after selling 11,489 shares during the period. NGAM Advisors L.P.’s holdings in Maximus were worth $2,373,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in MMS. Sapphire Star Partners LP raised its stake in shares of Maximus by 10.4% in the first quarter. Sapphire Star Partners LP now owns 8,737 shares of the health services provider’s stock valued at $543,000 after buying an additional 824 shares in the last quarter. Shell Asset Management Co. purchased a new stake in shares of Maximus during the first quarter valued at about $542,000. Glen Harbor Capital Management LLC raised its stake 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. Meritage Portfolio Management purchased a new stake in shares of Maximus during the first quarter valued at about $5,668,000. Finally, Nationwide Fund Advisors raised its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 97.89% of the company’s stock.
Shares of Maximus, Inc. (NYSE:MMS) opened at 60.83 on Friday. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 19.50 and a beta of 1.39. Maximus, Inc. has a one year low of $43.69 and a one year high of $64.97. The stock’s 50 day moving average price is $61.19 and its 200 day moving average price is $60.86.
Maximus (NYSE:MMS) last posted its quarterly earnings data on Thursday, August 3rd. The health services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.03. The business 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%. Maximus’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the company earned $0.79 earnings per share. Analysts expect that Maximus, Inc. will post $3.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be issued 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 payout ratio is presently 5.73%.
Several equities research analysts have recently issued reports on the company. BidaskClub lowered Maximus from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Maxim Group set a $66.00 price target on Maximus and gave the company a “hold” rating in a report on Thursday, August 3rd. ValuEngine lowered Maximus from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. KeyCorp reiterated a “sector weight” rating on shares of Maximus in a report on Thursday, May 25th. Finally, Zacks Investment Research upgraded Maximus from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $62.17.
In related news, Director Russell A. Beliveau sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $63.82, for a total transaction of $95,730.00. Following the completion of the transaction, the director now directly owns 41,829 shares of the company’s stock, valued at $2,669,526.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Bruce Caswell sold 8,000 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $61.79, for a total value of $494,320.00. Following the transaction, the president now directly owns 35,904 shares of the company’s stock, valued at $2,218,508.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,439 shares of company stock valued at $6,215,325. 3.10% of the stock is owned by corporate insiders.
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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