Panagora Asset Management Inc. decreased its position in shares of MAXIMUS, Inc. (NYSE:MMS) by 64.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,493 shares of the health services provider’s stock after selling 136,559 shares during the period. Panagora Asset Management Inc. owned 0.12% of MAXIMUS worth $5,404,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. 6 Meridian boosted its position in MAXIMUS by 2.3% during the second quarter. 6 Meridian now owns 7,045 shares of the health services provider’s stock valued at $511,000 after purchasing an additional 157 shares during the last quarter. Signaturefd LLC lifted its position in shares of MAXIMUS by 19.6% during the 2nd quarter. Signaturefd LLC now owns 1,145 shares of the health services provider’s stock worth $83,000 after purchasing an additional 188 shares during the last quarter. Chatham Capital Group Inc. lifted its position in shares of MAXIMUS by 0.7% during the 1st quarter. Chatham Capital Group Inc. now owns 32,850 shares of the health services provider’s stock worth $2,332,000 after purchasing an additional 241 shares during the last quarter. Cambiar Investors LLC lifted its position in shares of MAXIMUS by 0.4% during the 2nd quarter. Cambiar Investors LLC now owns 70,399 shares of the health services provider’s stock worth $5,107,000 after purchasing an additional 256 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of MAXIMUS by 0.4% during the 2nd quarter. First Trust Advisors LP now owns 72,679 shares of the health services provider’s stock worth $5,272,000 after purchasing an additional 273 shares during the last quarter. 93.65% of the stock is owned by hedge funds and other institutional investors.
In related news, Vice Chairman Richard A. Montoni sold 12,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $74.07, for a total transaction of $888,840.00. Following the transaction, the insider now directly owns 377,874 shares in the company, valued at $27,989,127.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Richard A. Montoni sold 35,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $74.68, for a total value of $2,613,800.00. Following the transaction, the insider now owns 377,874 shares in the company, valued at $28,219,630.32. The disclosure for this sale can be found here. Insiders have sold 48,000 shares of company stock worth $3,575,540 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.
Shares of NYSE MMS traded up $0.30 during trading hours on Friday, hitting $79.17. 87,458 shares of the company’s stock were exchanged, compared to its average volume of 317,220. MAXIMUS, Inc. has a 1-year low of $60.00 and a 1-year high of $80.83. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 2.10 and a beta of 0.88. The company’s 50-day moving average price is $75.29 and its 200-day moving average price is $73.05.
MAXIMUS (NYSE:MMS) last issued its quarterly earnings results on Thursday, August 8th. The health services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. MAXIMUS had a return on equity of 20.72% and a net margin of 8.44%. The firm had revenue of $730.70 million for the quarter, compared to analyst estimates of $754.81 million. During the same period in the previous year, the company posted $0.91 earnings per share. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, research analysts predict that MAXIMUS, Inc. will post 3.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.26%. MAXIMUS’s dividend payout ratio is 29.41%.
MAXIMUS, Inc provides business process services (BPS) to government health and human services programs worldwide. The company's Health Services segment offers various BPS, appeals, and assessments for state, provincial, and national government programs, including Medicaid, Children's Health Insurance Program, Affordable Care Act, Health Insurance British Columbia, Health Assessment Advisory Service contract, and Preadmission Screening and Resident Reviews.
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