Maximus (NYSE:MMS) Updates FY23 Earnings Guidance

Maximus (NYSE:MMSGet Rating) issued an update on its FY23 earnings guidance on Monday morning. The company provided earnings per share guidance of $3.70-4.00 for the period, compared to the consensus earnings per share estimate of $3.91. The company issued revenue guidance of $4.75-4.90 billion, compared to the consensus revenue estimate of $4.65 billion.

Maximus Stock Performance

Shares of MMS stock opened at $70.34 on Wednesday. The company’s 50 day moving average is $59.26 and its 200 day moving average is $61.76. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.94. Maximus has a 52-week low of $54.46 and a 52-week high of $81.98. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 21.38 and a beta of 0.71.

Maximus Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Tuesday, November 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.59%. The ex-dividend date is Monday, November 14th. Maximus’s dividend payout ratio is currently 34.04%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Maximus in a report on Wednesday, October 12th. They issued a hold rating on the stock.

Insiders Place Their Bets

In other news, General Counsel David Francis sold 5,326 shares of Maximus stock in a transaction on Friday, September 30th. The shares were sold at an average price of $57.87, for a total transaction of $308,215.62. Following the completion of the sale, the general counsel now directly owns 15,458 shares in the company, valued at $894,554.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel David Francis sold 5,326 shares of Maximus stock in a transaction on Friday, September 30th. The shares were sold at an average price of $57.87, for a total transaction of $308,215.62. Following the completion of the sale, the general counsel now directly owns 15,458 shares in the company, valued at $894,554.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David Mutryn sold 3,193 shares of Maximus stock in a transaction on Friday, September 30th. The stock was sold at an average price of $57.87, for a total transaction of $184,778.91. Following the sale, the chief financial officer now owns 8,283 shares of the company’s stock, valued at $479,337.21. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,854 shares of company stock valued at $2,017,001. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maximus

Institutional investors and hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors lifted its position in Maximus by 14.9% during the second quarter. Captrust Financial Advisors now owns 1,303 shares of the health services provider’s stock valued at $81,000 after purchasing an additional 169 shares during the period. Cetera Investment Advisers lifted its position in Maximus by 4.5% during the first quarter. Cetera Investment Advisers now owns 4,253 shares of the health services provider’s stock valued at $319,000 after purchasing an additional 184 shares during the period. Ameritas Investment Partners Inc. lifted its position in Maximus by 1.2% during the first quarter. Ameritas Investment Partners Inc. now owns 21,350 shares of the health services provider’s stock valued at $1,600,000 after purchasing an additional 258 shares during the period. PNC Financial Services Group Inc. lifted its position in Maximus by 16.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,520 shares of the health services provider’s stock valued at $188,000 after purchasing an additional 354 shares during the period. Finally, Prudential Financial Inc. lifted its position in Maximus by 2.1% during the second quarter. Prudential Financial Inc. now owns 22,272 shares of the health services provider’s stock valued at $1,393,000 after purchasing an additional 454 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

About Maximus

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Maximus, Inc provides business process services (BPS) to government health and human services programs. It operates through three segments: U.S. Services, U.S. Federal Services, and Outside the U.S. The U.S. Services segment offers various BPS solutions, such as program administration, appeals and assessments, and related consulting works for U.S.

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