Strategic Global Advisors LLC cut its stake in MAXIMUS, Inc. (NYSE:MMS) by 5.5% in the second quarter, Holdings Channel.com reports. The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ lifted its position in MAXIMUS by 18.8% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,137,027 shares of the health services provider’s stock worth $82,480,000 after acquiring an additional 179,581 shares during the period. Mondrian Investment Partners LTD raised its stake in shares of MAXIMUS by 12.9% during the 2nd quarter. Mondrian Investment Partners LTD now owns 985,851 shares of the health services provider’s stock worth $71,514,000 after buying an additional 112,386 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of MAXIMUS by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 976,831 shares of the health services provider’s stock valued at $63,581,000 after buying an additional 103,638 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of MAXIMUS by 7.5% in the 2nd quarter. Wells Fargo & Company MN now owns 702,575 shares of the health services provider’s stock valued at $50,965,000 after buying an additional 48,747 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in shares of MAXIMUS by 75.7% in the second quarter. William Blair Investment Management LLC now owns 441,042 shares of the health services provider’s stock valued at $31,993,000 after buying an additional 190,090 shares in the last quarter. 94.88% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on the company. Zacks Investment Research upgraded MAXIMUS from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, May 27th. ValuEngine lowered shares of MAXIMUS from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $83.00 price target on shares of MAXIMUS in a research note on Friday, August 9th. Finally, Canaccord Genuity increased their price target on shares of MAXIMUS from $72.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, August 13th.
MAXIMUS (NYSE:MMS) last posted its quarterly earnings results on Thursday, August 8th. The health services provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.04. The company had revenue of $730.70 million during the quarter, compared to the consensus estimate of $754.81 million. MAXIMUS had a net margin of 8.44% and a return on equity of 20.72%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS. On average, sell-side analysts predict that MAXIMUS, Inc. will post 3.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Wednesday, August 14th. MAXIMUS’s dividend payout ratio is currently 29.41%.
In other news, Vice Chairman Richard A. Montoni sold 35,000 shares of the firm’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 transaction of $2,613,800.00. Following the completion of the transaction, the insider now directly owns 377,874 shares of the company’s stock, valued at approximately $28,219,630.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Russell A. Beliveau sold 1,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $72.90, for a total value of $72,900.00. 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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