The Providence Service Corporation (PRSC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in The Providence Service Corporation (NASDAQ:PRSC) by 30.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,518 shares of the company’s stock after selling 65,147 shares during the period. Bank of New York Mellon Corp owned 1.09% of The Providence Service Corporation worth $6,511,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PRSC. Comerica Bank increased its stake in shares of The Providence Service Corporation by 112.3% in the fourth quarter. Comerica Bank now owns 52,467 shares of the company’s stock worth $2,047,000 after buying an additional 27,750 shares during the period. State Street Corp increased its stake in shares of The Providence Service Corporation by 7.5% in the fourth quarter. State Street Corp now owns 289,040 shares of the company’s stock worth $10,996,000 after buying an additional 20,280 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of The Providence Service Corporation by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 827,330 shares of the company’s stock worth $31,480,000 after buying an additional 11,166 shares during the period. Two Sigma Investments LP increased its stake in shares of The Providence Service Corporation by 1,348.8% in the fourth quarter. Two Sigma Investments LP now owns 72,238 shares of the company’s stock worth $2,749,000 after buying an additional 67,252 shares during the period. Finally, Guggenheim Capital LLC bought a new stake in shares of The Providence Service Corporation during the fourth quarter worth about $1,853,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Shares of The Providence Service Corporation (NASDAQ PRSC) traded up 1.02% during mid-day trading on Friday, hitting $51.58. The company had a trading volume of 49,716 shares. The company has a market cap of $694.63 million, a PE ratio of 10.89 and a beta of 0.95. The Providence Service Corporation has a 12 month low of $34.88 and a 12 month high of $53.54. The firm has a 50-day moving average of $49.50 and a 200-day moving average of $44.67.

The Providence Service Corporation (NASDAQ:PRSC) last released its earnings results 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 business had revenue of $399.50 million during the quarter, compared to analyst estimates of $386.14 million. The Providence Service Corporation had a net margin of 4.05% and a return on equity of 9.43%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, analysts expect that The Providence Service Corporation will post $1.35 EPS for the current year.

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PRSC has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded The Providence Service Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. ValuEngine raised The Providence Service Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub downgraded The Providence Service Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $51.00.

The Providence Service Corporation Company Profile

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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