BidaskClub Lowers The Providence Service (PRSC) to Hold

The Providence Service (NASDAQ:PRSC) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday, September 12th.

Shares of PRSC stock traded up $0.21 during trading hours on Wednesday, reaching $67.81. The company had a trading volume of 75,460 shares, compared to its average volume of 80,747. The Providence Service has a one year low of $52.58 and a one year high of $83.90. The firm has a market capitalization of $861.81 million, a PE 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 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $411.79 million during the quarter.

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of The Providence Service in the first quarter worth approximately $122,000. Hartford Investment Management Co. bought a new stake in shares of The Providence Service in the second quarter worth approximately $201,000. Koch Industries Inc. bought a new stake in The Providence Service during the first quarter valued at approximately $204,000. Piedmont Investment Advisors LLC bought a new stake in The Providence Service during the second quarter valued at approximately $207,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in The Providence Service during the second quarter valued at approximately $228,000. Hedge funds and other institutional investors own 95.46% of the company’s stock.

About The Providence Service

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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