The Providence Service Corp. (NASDAQ:PRSC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Providence Service Corporation provides human services and non-emergency transportation (NET) management services to children, adolescents, young adults, and families. The Company focuses on providing its social services in the client’s home or in community-based settings. It provides its NET management services through local transportation providers. The company’s services are reimbursed by government programs such as welfare, juvenile justice, Medicaid or corrections. Providence Service Corporation is based in Tucson, Arizona. “

A number of other equities research analysts also recently commented on the stock. Avondale Partners downgraded shares of The Providence Service Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 10th. TheStreet downgraded shares of The Providence Service Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 19th.

The Providence Service Corp. (NASDAQ:PRSC) opened at 38.38 on Tuesday. The stock has a market cap of $543.65 million, a PE ratio of 8.40 and a beta of 1.08. The company’s 50 day moving average is $44.02 and its 200-day moving average is $46.52. The Providence Service Corp. has a 1-year low of $36.85 and a 1-year high of $55.28.

The Providence Service Corp. (NASDAQ:PRSC) last released its earnings results on Tuesday, November 8th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The Providence Service Corp. had a net margin of 3.90% and a return on equity of 11.59%. The business had revenue of $412.50 million for the quarter, compared to analysts’ expectations of $417 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. The Providence Service Corp.’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts forecast that The Providence Service Corp. will post $2.16 earnings per share for the current fiscal year.

In other The Providence Service Corp. news, CFO David Casey Shackelton acquired 2,000 shares of the business’s stock in a transaction dated Friday, September 2nd. The stock was purchased at an average price of $46.85 per share, with a total value of $93,700.00. Following the transaction, the chief financial officer now directly owns 13,319 shares in the company, valued at approximately $623,995.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David A. Coulter acquired 4,225 shares of the business’s stock in a transaction dated Friday, September 16th. The shares were acquired at an average cost of $47.29 per share, with a total value of $199,800.25. Following the transaction, the director now owns 6,159 shares in the company, valued at $291,259.11. The disclosure for this purchase can be found here. 14.40% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the stock. California Public Employees Retirement System increased its stake in shares of The Providence Service Corp. by 1.8% in the second quarter. California Public Employees Retirement System now owns 66,300 shares of the company’s stock worth $2,976,000 after buying an additional 1,200 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of The Providence Service Corp. during the second quarter worth about $1,984,000. KBC Group NV acquired a new stake in shares of The Providence Service Corp. during the second quarter worth about $748,000. California State Teachers Retirement System increased its stake in shares of The Providence Service Corp. by 0.9% in the second quarter. California State Teachers Retirement System now owns 27,160 shares of the company’s stock worth $1,219,000 after buying an additional 252 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in shares of The Providence Service Corp. during the second quarter worth about $211,000. 97.25% of the stock is owned by hedge funds and other institutional investors.

The Providence Service Corp. Company Profile

The Providence Service Corporation is a holding company. The Company, through its subsidiaries, provides critical healthcare and workforce development services. It operates in over two industry sectors, including the United States healthcare and global workforce development, through its three operating segments: Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Health Assessment Services (HA Services).

5 Day Chart for NASDAQ:PRSC

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