Public Employees Retirement System of Ohio raised its position in The Providence Service Co. (NASDAQ:PRSC) by 156.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,070 shares of the company’s stock after acquiring an additional 10,424 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.13% of The Providence Service worth $1,341,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of The Providence Service in the first quarter valued at about $122,000. Hartford Investment Management Co. purchased a new position in shares of The Providence Service in the second quarter valued at about $201,000. Piedmont Investment Advisors LLC purchased a new position in shares of The Providence Service during the second quarter valued at about $207,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of The Providence Service during the second quarter valued at about $228,000. Finally, Koch Industries Inc. purchased a new position in shares of The Providence Service during the first quarter valued at about $204,000. Hedge funds and other institutional investors own 95.46% of the company’s stock.
Shares of NASDAQ PRSC opened at $64.58 on Friday. The Providence Service Co. has a 1 year low of $52.58 and a 1 year high of $83.90. The stock has a market cap of $861.81 million, a P/E ratio of 38.67 and a beta of 0.63.
The Providence Service (NASDAQ:PRSC) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.08. The Providence Service had a net margin of 2.22% and a return on equity of 7.49%. The company had revenue of $411.79 million for the quarter.
Separately, BidaskClub upgraded shares of The Providence Service from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 22nd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $67.00.
The Providence Service Profile
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.
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