Strategic Global Advisors LLC Reduces Stake in MAXIMUS, Inc. (NYSE:MMS)
Strategic Global Advisors LLC lessened its holdings in MAXIMUS, Inc. (NYSE:MMS) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,668 shares of the health services provider’s stock after selling 1,023 shares during the quarter. Strategic Global Advisors LLC’s holdings in MAXIMUS were worth $1,282,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of MMS. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of MAXIMUS in the 1st quarter valued at $23,766,000. DekaBank Deutsche Girozentrale grew its position in MAXIMUS by 234.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 409,159 shares of the health services provider’s stock worth $29,558,000 after purchasing an additional 286,959 shares during the period. William Blair Investment Management LLC raised its stake in shares of MAXIMUS by 1,370.8% during the 1st quarter. William Blair Investment Management LLC now owns 250,952 shares of the health services provider’s stock valued at $17,813,000 after buying an additional 233,890 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of MAXIMUS by 18.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,137,027 shares of the health services provider’s stock worth $82,480,000 after buying an additional 179,581 shares during the last quarter. Finally, Glassman Wealth Services acquired a new stake in MAXIMUS during the first quarter worth about $10,575,000. Institutional investors own 94.88% of the company’s stock.
MMS has been the topic of a number of analyst reports. Zacks Investment Research raised shares of MAXIMUS from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Monday, May 27th. Canaccord Genuity raised their price target on shares of MAXIMUS from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. ValuEngine cut MAXIMUS from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $83.00 price target on shares of MAXIMUS in a research note on Friday, August 9th.
MAXIMUS (NYSE:MMS) last announced its earnings results on Thursday, August 8th. The health services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $730.70 million during the quarter, compared to analysts’ expectations of $754.81 million. MAXIMUS had a return on equity of 20.72% and a net margin of 8.44%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share. As a group, equities analysts anticipate that MAXIMUS, Inc. will post 3.73 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. MAXIMUS’s payout ratio is currently 29.41%.
In other news, Director Russell A. Beliveau sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $72.90, for a total value of $72,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Richard A. Montoni sold 35,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 377,874 shares of the company’s stock, valued at $28,219,630.32. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
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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