JPMorgan Chase & Co. Acquires 21,221 Shares of Maximus, Inc. (MMS)
JPMorgan Chase & Co. raised its holdings in shares of Maximus, Inc. (NYSE:MMS) by 459.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,842 shares of the health services provider’s stock after acquiring an additional 21,221 shares during the period. JPMorgan Chase & Co.’s holdings in Maximus were worth $1,619,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of MMS. BlackRock Inc. grew its holdings 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 purchasing an additional 6,474,723 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 purchasing an additional 411,521 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Maximus by 8.6% in the second quarter. Victory Capital Management Inc. now owns 3,100,903 shares of the health services provider’s stock worth $194,210,000 after purchasing an additional 244,823 shares during the last quarter. State Street Corp grew its holdings in shares of Maximus by 2.5% in the first quarter. State Street Corp now owns 2,066,226 shares of the health services provider’s stock worth $128,517,000 after purchasing an additional 50,670 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings 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 purchasing an additional 663,189 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.
MMS has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Maximus from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Wednesday, October 4th. Robert W. Baird initiated coverage on shares of Maximus in a report on Sunday, September 3rd. They issued a “neutral” rating on the stock. BidaskClub cut shares of Maximus from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 6th. Maxim Group set a $66.00 target price on shares of Maximus and gave the stock a “hold” rating in a report on Thursday, August 3rd. Finally, Canaccord Genuity cut shares of Maximus from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. Maximus presently has a consensus rating of “Hold” and a consensus price target of $63.14.
In other news, CEO Richard A. Montoni sold 29,203 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $60.38, for a total transaction of $1,763,277.14. Following the transaction, the chief executive officer now owns 549,215 shares of the company’s stock, valued at approximately $33,161,601.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel David Francis sold 2,000 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $58.89, for a total value of $117,780.00. Following the transaction, the general counsel now directly owns 13,716 shares in the company, valued at approximately $807,735.24. The disclosure for this sale can be found here. Insiders sold a total of 151,403 shares of company stock worth $9,354,041 in the last ninety days. 3.10% of the stock is currently owned by corporate insiders.
Maximus, Inc. (NYSE:MMS) opened at 65.09 on Tuesday. Maximus, Inc. has a one year low of $43.69 and a one year high of $66.38. The company has a market cap of $4.22 billion, a PE ratio of 20.86 and a beta of 1.36. The stock has a 50 day moving average of $63.34 and a 200 day moving average of $61.96.
Maximus (NYSE:MMS) last announced its quarterly earnings data on Thursday, August 3rd. The health services provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The company had revenue of $600.40 million for 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 quarter in the prior year, the company posted $0.79 EPS. On average, analysts anticipate that Maximus, Inc. will post $3.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th will be given a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Tuesday, November 14th. Maximus’s dividend payout ratio (DPR) is presently 5.73%.
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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