Caisse DE Depot ET Placement DU Quebec acquired a new position in MAXIMUS, Inc. (NYSE:MMS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,000 shares of the health services provider’s stock, valued at approximately $2,733,000. Caisse DE Depot ET Placement DU Quebec owned about 0.07% of MAXIMUS at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Ostrum Asset Management acquired a new position in MAXIMUS during the 1st quarter valued at $109,000. We Are One Seven LLC raised its stake in MAXIMUS by 241.3% during the 1st quarter. We Are One Seven LLC now owns 2,017 shares of the health services provider’s stock valued at $135,000 after purchasing an additional 1,426 shares during the last quarter. Violich Capital Management Inc. acquired a new position in MAXIMUS during the 2nd quarter valued at $204,000. Tributary Capital Management LLC raised its stake in MAXIMUS by 426.9% during the 2nd quarter. Tributary Capital Management LLC now owns 4,215 shares of the health services provider’s stock valued at $262,000 after purchasing an additional 3,415 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MAXIMUS by 22.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,369 shares of the health services provider’s stock valued at $292,000 after purchasing an additional 788 shares during the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.
In other news, Director Russell A. Beliveau sold 1,000 shares of the stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $61.91, for a total value of $61,910.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul R. Lederer sold 7,500 shares of the stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $64.05, for a total transaction of $480,375.00. Following the completion of the transaction, the director now owns 62,535 shares of the company’s stock, valued at approximately $4,005,366.75. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
Separately, Zacks Investment Research cut shares of MAXIMUS from a “hold” rating to a “sell” rating in a research note on Tuesday, May 22nd.
Shares of MMS stock opened at $65.64 on Friday. MAXIMUS, Inc. has a 52-week low of $60.27 and a 52-week high of $72.71. The firm has a market capitalization of $4.21 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 2.53 and a beta of 1.19.
MAXIMUS (NYSE:MMS) last announced its quarterly earnings data on Thursday, August 9th. The health services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.09. MAXIMUS had a net margin of 9.28% and a return on equity of 21.51%. The company had revenue of $597.90 million during the quarter, compared to analysts’ expectations of $591.91 million. During the same quarter in the prior year, the company posted $0.86 EPS. The business’s revenue was down .4% on a year-over-year basis. sell-side analysts forecast that MAXIMUS, Inc. will post 3.24 earnings per share for the current year.
MAXIMUS declared that its Board of Directors has initiated a share repurchase plan on Monday, June 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the health services provider to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th were paid a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Tuesday, August 14th. MAXIMUS’s dividend payout ratio is 5.94%.
MAXIMUS Company Profile
MAXIMUS, Inc provides business process services (BPS) to government health and human services programs in the United States, the United Kingdom, Australia, Canada, Singapore, and Saudi Arabia. The company's Health Services segment offers various BPS, appeals, and assessments, as well as related consulting services for state, provincial, and national government programs comprising Medicaid, Children's Health Insurance Program, the Affordable Care Act, Health Insurance British Columbia, the Health Assessment Advisory Service, and Preadmission Screening and Resident Reviews.
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