Canaccord Genuity Reiterates “Buy” Rating for HMS Holdings Corp (HMSY)
HMS Holdings Corp (NASDAQ:HMSY)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity in a research report issued to clients and investors on Monday. They currently have a $22.00 target price on the business services provider’s stock. Canaccord Genuity’s price target indicates a potential upside of 14.05% from the company’s current price.
Several other research firms have also recently weighed in on HMSY. Cantor Fitzgerald reissued a “buy” rating and set a $23.00 price objective on shares of HMS Holdings Corp in a report on Tuesday, September 26th. Robert W. Baird reissued a “buy” rating and set a $22.00 price objective on shares of HMS Holdings Corp in a report on Thursday, August 31st. Jefferies Group LLC reissued a “hold” rating and set a $21.50 price objective on shares of HMS Holdings Corp in a report on Tuesday, August 22nd. BidaskClub cut shares of HMS Holdings Corp from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Raymond James Financial, Inc. raised shares of HMS Holdings Corp from an “outperform” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. HMS Holdings Corp has a consensus rating of “Buy” and a consensus target price of $22.94.
Shares of HMS Holdings Corp (NASDAQ:HMSY) opened at 19.29 on Monday. The company has a market capitalization of $1.62 billion, a P/E ratio of 54.96 and a beta of 1.13. The firm has a 50-day moving average of $19.32 and a 200-day moving average of $18.96. HMS Holdings Corp has a 12 month low of $15.94 and a 12 month high of $21.83.
HMS Holdings Corp (NASDAQ:HMSY) last issued its earnings results on Friday, August 4th. The business services provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $133.31 million during the quarter, compared to analysts’ expectations of $135.96 million. HMS Holdings Corp had a return on equity of 9.26% and a net margin of 6.37%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $0.18 earnings per share. On average, equities analysts predict that HMS Holdings Corp will post $0.81 earnings per share for the current year.
In related news, insider Douglas M. Williams sold 13,140 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $17.78, for a total transaction of $233,629.20. Following the completion of the sale, the insider now directly owns 121,264 shares in the company, valued at $2,156,073.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Semone Neuman sold 20,734 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $17.68, for a total transaction of $366,577.12. Following the sale, the executive vice president now owns 96,722 shares of the company’s stock, valued at $1,710,044.96. The disclosure for this sale can be found here. Insiders have sold 86,675 shares of company stock valued at $1,602,166 over the last 90 days. 3.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC grew its position in HMS Holdings Corp by 80.4% during the second quarter. Riverhead Capital Management LLC now owns 5,592 shares of the business services provider’s stock valued at $104,000 after buying an additional 2,492 shares during the period. Acrospire Investment Management LLC bought a new stake in HMS Holdings Corp during the first quarter valued at approximately $108,000. LS Investment Advisors LLC grew its position in HMS Holdings Corp by 48.3% during the first quarter. LS Investment Advisors LLC now owns 5,512 shares of the business services provider’s stock valued at $112,000 after buying an additional 1,795 shares during the period. Envestnet Asset Management Inc. grew its position in HMS Holdings Corp by 2.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 6,954 shares of the business services provider’s stock valued at $126,000 after buying an additional 165 shares during the period. Finally, Intellectus Partners LLC bought a new stake in HMS Holdings Corp during the fourth quarter valued at approximately $127,000. Institutional investors own 93.06% of the company’s stock.
About HMS Holdings Corp
HMS Holdings Corp. is a holding company. The Company, through its subsidiaries, operates in the United States healthcare insurance benefit cost containment marketplace. It provides coordination of benefits services to government, and private healthcare payers and sponsors. Its payment integrity services ensure that healthcare claims billed are accurate and appropriate.
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