Mackay Shields LLC cut its holdings in MAXIMUS, Inc. (NYSE:MMS) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,183 shares of the health services provider’s stock after selling 13,862 shares during the period. Mackay Shields LLC owned approximately 0.18% of MAXIMUS worth $8,745,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Stephens Inc. AR raised its stake in shares of MAXIMUS by 2.6% during the third quarter. Stephens Inc. AR now owns 6,219 shares of the health services provider’s stock valued at $480,000 after acquiring an additional 155 shares during the last quarter. 6 Meridian raised its stake in shares of MAXIMUS by 2.3% during the second quarter. 6 Meridian now owns 7,045 shares of the health services provider’s stock valued at $511,000 after acquiring an additional 157 shares during the last quarter. Cim LLC raised its stake in shares of MAXIMUS by 1.9% during the third quarter. Cim LLC now owns 9,328 shares of the health services provider’s stock valued at $721,000 after acquiring an additional 170 shares during the last quarter. Signaturefd LLC raised its stake in MAXIMUS by 15.6% in the third quarter. Signaturefd LLC now owns 1,324 shares of the health services provider’s stock worth $102,000 after buying an additional 179 shares in the last quarter. Finally, Cambiar Investors LLC raised its stake in MAXIMUS by 0.4% in the second quarter. Cambiar Investors LLC now owns 70,399 shares of the health services provider’s stock worth $5,107,000 after buying an additional 256 shares in the last quarter. 94.52% of the stock is owned by institutional investors and hedge funds.
In related news, General Counsel David Francis sold 6,496 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $77.43, for a total value of $502,985.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Russell A. Beliveau sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $77.46, for a total transaction of $77,460.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,496 shares of company stock worth $4,398,575. Corporate insiders own 2.20% of the company’s stock.
MMS traded down $0.13 during midday trading on Friday, reaching $75.86. The company’s stock had a trading volume of 1,146 shares, compared to its average volume of 354,516. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 1.85 and a beta of 0.82. MAXIMUS, Inc. has a 1 year low of $60.00 and a 1 year high of $82.02. The stock’s 50-day moving average is $76.13 and its 200-day moving average is $74.82.
MAXIMUS (NYSE:MMS) last posted its quarterly earnings results on Thursday, August 8th. The health services provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.04. MAXIMUS had a net margin of 8.44% and a return on equity of 20.72%. The firm had revenue of $730.70 million for the quarter, compared to analysts’ expectations of $754.81 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. Sell-side analysts anticipate that MAXIMUS, Inc. will post 3.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.28 per share. This is a boost from MAXIMUS’s previous quarterly dividend of $0.25. The ex-dividend date is Thursday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.48%. MAXIMUS’s dividend payout ratio is presently 29.41%.
A number of equities analysts recently issued reports on the stock. Canaccord Genuity increased their price target on shares of MAXIMUS from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. ValuEngine raised shares of MAXIMUS from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $83.00 price target on shares of MAXIMUS in a research note on Friday, August 9th.
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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