Ameriprise Financial Inc. Purchases 29,215 Shares of The Providence Service Corporation (NASDAQ:PRSC)

Ameriprise Financial Inc. boosted its stake in shares of The Providence Service Corporation (NASDAQ:PRSC) by 45.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,180 shares of the company’s stock after buying an additional 29,215 shares during the period. Ameriprise Financial Inc. owned about 0.69% of The Providence Service Corporation worth $4,141,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Sei Investments Co. boosted its stake in The Providence Service Corporation by 21.0% in the first quarter. Sei Investments Co. now owns 37,031 shares of the company’s stock valued at $1,646,000 after buying an additional 6,434 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in The Providence Service Corporation by 11.4% in the first quarter. BNP Paribas Arbitrage SA now owns 2,256 shares of the company’s stock valued at $100,000 after buying an additional 231 shares during the last quarter. Capital Fund Management S.A. bought a new stake in The Providence Service Corporation during the first quarter valued at about $502,000. Great West Life Assurance Co. Can boosted its stake in The Providence Service Corporation by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 16,903 shares of the company’s stock valued at $751,000 after buying an additional 1,048 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in The Providence Service Corporation during the first quarter valued at about $176,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of The Providence Service Corporation (NASDAQ PRSC) traded up 1.02% during midday trading on Friday, reaching $51.58. 49,716 shares of the company traded hands. The Providence Service Corporation has a 1-year low of $34.88 and a 1-year high of $53.54. The stock has a 50 day moving average price of $49.50 and a 200 day moving average price of $44.67. The firm’s market capitalization is $694.63 million.

The Providence Service Corporation (NASDAQ:PRSC) last posted its quarterly earnings data on Tuesday, May 9th. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The Providence Service Corporation had a net margin of 4.05% and a return on equity of 9.43%. The firm had revenue of $399.50 million during the quarter, compared to analyst estimates of $386.14 million. During the same period in the prior year, the company posted $0.48 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts expect that The Providence Service Corporation will post $1.35 earnings per share for the current fiscal year.

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Several research firms have recently issued reports on PRSC. ValuEngine cut shares of The Providence Service Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 7th. BidaskClub cut shares of The Providence Service Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research cut shares of The Providence Service Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $51.00.

About The Providence Service Corporation

The Providence Service Corporation (Providence) is a holding company. The Company, through its subsidiaries, is engaged in the provision of healthcare and workforce development services for public and private sector entities. The Company’s segments include Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Matrix Investment.

Institutional Ownership by Quarter for The Providence Service Corporation (NASDAQ:PRSC)

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