MAXIMUS, Inc. (MMS) Shares Bought by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC lifted its position in MAXIMUS, Inc. (NYSE:MMS) by 358.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,243 shares of the health services provider’s stock after purchasing an additional 18,958 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in MAXIMUS were worth $1,506,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NorthCoast Asset Management LLC acquired a new stake in shares of MAXIMUS in the 1st quarter valued at about $893,000. Wells Fargo & Company MN boosted its position in shares of MAXIMUS by 299.9% in the 2nd quarter. Wells Fargo & Company MN now owns 919,740 shares of the health services provider’s stock valued at $57,124,000 after purchasing an additional 689,734 shares during the period. Richard Bernstein Advisors LLC lifted its position in MAXIMUS by 50.0% during the 2nd quarter. Richard Bernstein Advisors LLC now owns 8,660 shares of the health services provider’s stock worth $538,000 after acquiring an additional 2,888 shares during the period. Clinton Group Inc. lifted its position in MAXIMUS by 41.0% during the 1st quarter. Clinton Group Inc. now owns 58,576 shares of the health services provider’s stock worth $3,909,000 after acquiring an additional 17,033 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in MAXIMUS by 13.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 25,090 shares of the health services provider’s stock worth $1,559,000 after acquiring an additional 2,893 shares during the period. 93.44% of the stock is owned by hedge funds and other institutional investors.
MAXIMUS stock opened at $66.24 on Monday. MAXIMUS, Inc. has a twelve month low of $60.27 and a twelve month high of $72.71. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 2.53 and a beta of 1.19.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th were given a dividend of $0.045 per share. The ex-dividend date was Tuesday, August 14th. This represents a $0.18 dividend on an annualized basis and a yield of 0.27%. MAXIMUS’s payout ratio is 5.94%.
MAXIMUS announced that its board has authorized a share repurchase program on Monday, June 25th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the health services provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Separately, Zacks Investment Research cut MAXIMUS from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd.
In other MAXIMUS news, Director Paul R. Lederer sold 7,500 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $64.05, for a total transaction of $480,375.00. Following the completion of the sale, the director now directly owns 62,535 shares of the company’s stock, valued at approximately $4,005,366.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Russell A. Beliveau sold 1,000 shares of the stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $61.91, for a total value of $61,910.00. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.
MAXIMUS, Inc provides business process services (BPS) to government health and human services programs in the United States, the United Kingdom, Australia, Canada, Singapore, and Saudi Arabia. The company's Health Services segment offers various BPS, appeals, and assessments, as well as related consulting services for state, provincial, and national government programs comprising Medicaid, Children's Health Insurance Program, the Affordable Care Act, Health Insurance British Columbia, the Health Assessment Advisory Service, and Preadmission Screening and Resident Reviews.
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