HMS Holdings Corp (HMSY) Initiates Share Buyback Program
HMS Holdings Corp (NASDAQ:HMSY) announced that its board has approved a stock repurchase plan, which allows the company to repurchase $50.00 million in shares on Friday, November 3rd, EventVestor reports. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
Shares of HMS Holdings Corp (NASDAQ HMSY) traded down $3.37 on Friday, reaching $15.57. 9,140,722 shares of the company’s stock traded hands, compared to its average volume of 421,362. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 2.36 and a beta of 0.94.
HMS Holdings Corp (NASDAQ:HMSY) last announced its quarterly earnings data on Friday, November 3rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.03). HMS Holdings Corp had a net margin of 6.37% and a return on equity of 9.26%. The company had revenue of $125.70 million for the quarter, compared to the consensus estimate of $147.62 million. During the same period last year, the business posted $0.24 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. analysts forecast that HMS Holdings Corp will post 0.69 earnings per share for the current fiscal year.
Several analysts recently commented on HMSY shares. Robert W. Baird reiterated a “buy” rating and issued a $22.00 price target on shares of HMS Holdings Corp in a research report on Thursday, August 31st. Jefferies Group LLC reiterated a “hold” rating and issued a $21.50 price target on shares of HMS Holdings Corp in a research report on Wednesday, July 19th. Canaccord Genuity started coverage on shares of HMS Holdings Corp in a research report on Tuesday, July 11th. They issued a “buy” rating and a $22.00 price target for the company. Zacks Investment Research upgraded shares of HMS Holdings Corp from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Tuesday, August 1st. Finally, BidaskClub downgraded shares of HMS Holdings Corp from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. HMS Holdings Corp presently has an average rating of “Buy” and an average price target of $22.94.
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In other news, Chairman William C. Lucia sold 29,894 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $20.00, for a total transaction of $597,880.00. Following the completion of the sale, the chairman now directly owns 222,745 shares in the company, valued at $4,454,900. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Semone Neuman sold 20,734 shares of the stock in a transaction dated Monday, August 28th. The stock was 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 worth $1,602,166 over the last ninety days. Insiders own 3.20% 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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