Eagle Boston Investment Management Inc. Has $12.55 Million Holdings in Providence Service Co. (PRSC)

Eagle Boston Investment Management Inc. trimmed its position in shares of Providence Service Co. (NASDAQ:PRSC) by 18.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,540 shares of the company’s stock after selling 41,883 shares during the period. Providence Service makes up approximately 1.2% of Eagle Boston Investment Management Inc.’s investment portfolio, making the stock its 23rd largest position. Eagle Boston Investment Management Inc. owned about 1.39% of Providence Service worth $12,551,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Trexquant Investment LP grew its stake in Providence Service by 13.4% during the first quarter. Trexquant Investment LP now owns 5,903 shares of the company’s stock worth $408,000 after buying an additional 696 shares in the last quarter. Guggenheim Capital LLC grew its stake in Providence Service by 3.0% during the fourth quarter. Guggenheim Capital LLC now owns 37,384 shares of the company’s stock worth $2,219,000 after buying an additional 1,075 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Providence Service by 13.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 12,909 shares of the company’s stock worth $893,000 after buying an additional 1,572 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Providence Service by 2.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 58,773 shares of the company’s stock valued at $4,064,000 after purchasing an additional 1,667 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Providence Service in the 1st quarter valued at approximately $122,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

PRSC opened at $75.01 on Friday. Providence Service Co. has a 1-year low of $71.65 and a 1-year high of $73.80. The company has a market capitalization of $948.01 million, a PE ratio of 44.76 and a beta of 0.80.

Providence Service (NASDAQ:PRSC) last posted its quarterly earnings results on Wednesday, May 9th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.18. Providence Service had a net margin of 3.13% and a return on equity of 8.39%. The company had revenue of $406.05 million for the quarter, compared to the consensus estimate of $403.80 million. During the same period last year, the company posted $0.35 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year.

In other news, Director Richard A. Kerley sold 667 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $70.89, for a total value of $47,283.63. Following the sale, the director now directly owns 31,836 shares in the company, valued at approximately $2,256,854.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David Casey Shackelton sold 31,467 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $70.22, for a total transaction of $2,209,612.74. Following the completion of the sale, the chief financial officer now owns 44,401 shares in the company, valued at $3,117,838.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,667 shares of company stock worth $4,371,899. 18.93% of the stock is currently owned by corporate insiders.

PRSC has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Providence Service from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 21st. BidaskClub downgraded shares of Providence Service from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 28th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $67.00.

About Providence Service

The Providence Service Corporation, through its subsidiaries, provides healthcare and workforce development services in the United States and internationally. It operates in two segments, Non-Emergency Transportation Services (NET Services) and Workforce Development Services (WD Services). The NET Services segment offers non-emergency medical transportation services for Medicaid or Medicare eligible members, whose limited mobility or financial resources hinder their ability to access necessary healthcare and social services.

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

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