State of Tennessee Treasury Department Increases Stake in Maximus, Inc. (MMS)
State of Tennessee Treasury Department increased its holdings in Maximus, Inc. (NYSE:MMS) by 50.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,000 shares of the health services provider’s stock after purchasing an additional 20,000 shares during the period. State of Tennessee Treasury Department owned approximately 0.09% of Maximus worth $3,758,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Swiss National Bank boosted its stake in shares of Maximus by 1.2% in the 2nd quarter. Swiss National Bank now owns 108,007 shares of the health services provider’s stock valued at $6,764,000 after purchasing an additional 1,300 shares in the last quarter. Tuttle Tactical Management LLC purchased a new stake in shares of Maximus in the 2nd quarter valued at $261,000. Chicago Equity Partners LLC purchased a new stake in shares of Maximus in the 2nd quarter valued at $1,557,000. Principal Financial Group Inc. boosted its stake in shares of Maximus by 3.9% in the 2nd quarter. Principal Financial Group Inc. now owns 278,352 shares of the health services provider’s stock valued at $17,433,000 after purchasing an additional 10,418 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Maximus by 44.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 9,125 shares of the health services provider’s stock valued at $572,000 after purchasing an additional 2,812 shares in the last quarter. 97.23% of the stock is owned by institutional investors.
In related news, CEO Richard A. Montoni sold 29,203 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $60.38, for a total value of $1,763,277.14. Following the completion of the transaction, the chief executive officer now directly owns 549,215 shares of the company’s stock, valued at $33,161,601.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Bruce Caswell sold 8,000 shares of the firm’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $63.56, for a total transaction of $508,480.00. Following the completion of the transaction, the president now directly owns 35,904 shares of the company’s stock, valued at $2,282,058.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 133,403 shares of company stock valued at $8,153,731. 3.10% of the stock is currently owned by insiders.
Shares of Maximus, Inc. (NYSE:MMS) opened at 63.37 on Thursday. Maximus, Inc. has a 12-month low of $43.69 and a 12-month high of $64.97. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 20.31 and a beta of 1.37. The company’s 50-day moving average is $60.54 and its 200-day moving average is $61.41.
Maximus (NYSE:MMS) last posted its earnings results on Thursday, August 3rd. The health services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $614.12 million. During the same period last year, the firm posted $0.79 earnings per share. Maximus’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts predict that Maximus, Inc. will post $3.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, August 11th. Maximus’s dividend payout ratio (DPR) is presently 5.73%.
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A number of brokerages have recently issued reports on MMS. BidaskClub cut shares of Maximus from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Canaccord Genuity cut shares of Maximus from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a research note on Tuesday, July 4th. Zacks Investment Research cut shares of Maximus from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Robert W. Baird reaffirmed a “hold” rating and issued a $64.00 price objective on shares of Maximus in a research note on Friday, September 1st. Finally, Maxim Group set a $66.00 price objective on shares of Maximus and gave the company a “hold” rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating and nine have given a hold rating to the company. Maximus presently has a consensus rating of “Hold” and a consensus price target of $62.43.
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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