Texas Permanent School Fund reduced its stake in HMS Holdings Corp (NASDAQ:HMSY) by 7.4% during the 4th quarter, HoldingsChannel reports. The fund owned 56,838 shares of the business services provider’s stock after selling 4,520 shares during the quarter. Texas Permanent School Fund’s holdings in HMS were worth $963,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of HMSY. FMR LLC bought a new stake in HMS in the 2nd quarter valued at $3,617,000. Parametric Portfolio Associates LLC lifted its position in HMS by 15.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 152,580 shares of the business services provider’s stock valued at $2,823,000 after acquiring an additional 20,802 shares in the last quarter. Voya Investment Management LLC lifted its position in HMS by 7.3% in the 2nd quarter. Voya Investment Management LLC now owns 39,092 shares of the business services provider’s stock valued at $723,000 after acquiring an additional 2,676 shares in the last quarter. State Street Corp lifted its position in HMS by 4.4% in the 2nd quarter. State Street Corp now owns 2,217,293 shares of the business services provider’s stock valued at $41,018,000 after acquiring an additional 92,900 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in HMS by 5.5% in the 2nd quarter. Bank of Nova Scotia now owns 41,635 shares of the business services provider’s stock valued at $770,000 after acquiring an additional 2,160 shares in the last quarter. 94.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of HMS Holdings Corp (NASDAQ HMSY) opened at $15.34 on Thursday. HMS Holdings Corp has a 52 week low of $11.01 and a 52 week high of $20.90. The stock has a market cap of $1,275.55, a price-to-earnings ratio of 52.50, a price-to-earnings-growth ratio of 2.23 and a beta of 0.84.

HMS announced that its Board of Directors has initiated a stock repurchase plan on Friday, November 3rd that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

HMSY has been the topic of several research reports. Robert W. Baird reaffirmed a “buy” rating on shares of HMS in a research report on Sunday, November 19th. Canaccord Genuity cut their price objective on shares of HMS from $22.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $16.00 price objective on shares of HMS in a research report on Sunday, November 19th. BidaskClub raised shares of HMS from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. Finally, Zacks Investment Research raised shares of HMS from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $20.39.

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HMS Company Profile

HMS Holdings Corp. is a holding company. The Company, through its subsidiaries, operates in the United States healthcare insurance benefit cost containment marketplace. It provides coordination of benefits services to government, and private healthcare payers and sponsors. Its payment integrity services ensure that healthcare claims billed are accurate and appropriate.

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Institutional Ownership by Quarter for HMS (NASDAQ:HMSY)

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