HMS Holdings Corp (NASDAQ:HMSY) Stake Cut by Prudential Financial Inc.
Prudential Financial Inc. cut its holdings in shares of HMS Holdings Corp (NASDAQ:HMSY) by 37.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 218,857 shares of the business services provider’s stock after selling 131,969 shares during the quarter. Prudential Financial Inc. owned 0.25% of HMS worth $7,089,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in HMSY. Geode Capital Management LLC increased its stake in HMS by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,152,765 shares of the business services provider’s stock valued at $32,427,000 after buying an additional 61,025 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of HMS by 494.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 19,246 shares of the business services provider’s stock valued at $570,000 after acquiring an additional 16,009 shares in the last quarter. Parallel Advisors LLC acquired a new position in shares of HMS in the first quarter worth $25,000. Rhumbline Advisers increased its stake in shares of HMS by 1.7% in the first quarter. Rhumbline Advisers now owns 240,869 shares of the business services provider’s stock worth $7,132,000 after acquiring an additional 4,062 shares during the last quarter. Finally, Comerica Bank raised its holdings in shares of HMS by 3.6% during the first quarter. Comerica Bank now owns 84,505 shares of the business services provider’s stock worth $2,610,000 after acquiring an additional 2,947 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on HMSY. Guggenheim cut HMS from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Thursday, August 22nd. Chardan Capital raised shares of HMS from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $37.00 to $41.00 in a research note on Monday, July 1st. Credit Suisse Group upped their price target on HMS from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. KeyCorp assumed coverage on HMS in a report on Monday, June 24th. They set a “sector weight” rating and a $31.86 price objective on the stock. Finally, BidaskClub downgraded HMS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $42.19.
HMS (NASDAQ:HMSY) last released its quarterly earnings results on Friday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.18. The company had revenue of $168.20 million during the quarter, compared to analysts’ expectations of $158.25 million. HMS had a net margin of 16.08% and a return on equity of 15.22%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share. As a group, sell-side analysts anticipate that HMS Holdings Corp will post 1.08 earnings per share for the current fiscal year.
In other HMS news, SVP Greg D. Aunan sold 32,741 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $37.50, for a total value of $1,227,787.50. Following the sale, the senior vice president now owns 61,791 shares of the company’s stock, valued at approximately $2,317,162.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William C. Lucia sold 32,005 shares of HMS stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $37.06, for a total value of $1,186,105.30. Following the completion of the transaction, the chief executive officer now directly owns 172,378 shares in the company, valued at $6,388,328.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 632,090 shares of company stock valued at $24,063,237. 2.87% of the stock is owned by corporate insiders.
HMS Company Profile
HMS Holdings Corp., through its subsidiaries, provides cost containment solutions in the United States healthcare marketplace. The company offers coordination of benefits services to government and commercial healthcare payers to ensure that the correct party pays the claim; and population management solutions that provide risk-bearing organizations with intelligence across their member populations to identify risks, and enhance patient engagement and outcomes, as well as payment integrity, care management and consumer engagement, and analytical solutions.
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