MAXIMUS, Inc. (NYSE:MMS) Vice Chairman Richard A. Montoni sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $65.81, for a total value of $987,150.00. Following the completion of the transaction, the insider now directly owns 493,476 shares of the company’s stock, valued at $32,475,655.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
NYSE MMS opened at $62.17 on Friday. MAXIMUS, Inc. has a twelve month low of $60.27 and a twelve month high of $72.71. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 2.51 and a beta of 1.12.
MAXIMUS (NYSE:MMS) last released its quarterly earnings results on Thursday, August 9th. The health services provider reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.09. MAXIMUS had a return on equity of 21.51% and a net margin of 9.28%. The business had revenue of $597.90 million for the quarter, compared to the consensus estimate of $591.91 million. During the same quarter last year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts forecast that MAXIMUS, Inc. will post 3.24 EPS for the current fiscal year.
MAXIMUS announced that its board has authorized a share buyback plan on Monday, June 25th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the health services provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
MMS has been the subject of several research analyst reports. Canaccord Genuity lifted their price objective on MAXIMUS from $64.00 to $67.00 and gave the company a “hold” rating in a research note on Wednesday. Zacks Investment Research raised MAXIMUS from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ostrum Asset Management purchased a new position in shares of MAXIMUS in the first quarter worth about $109,000. Bruderman Asset Management LLC purchased a new position in shares of MAXIMUS in the second quarter worth about $119,000. Fort L.P. purchased a new position in shares of MAXIMUS in the second quarter worth about $120,000. We Are One Seven LLC increased its holdings in shares of MAXIMUS by 241.3% in the first quarter. We Are One Seven LLC now owns 2,017 shares of the health services provider’s stock worth $135,000 after buying an additional 1,426 shares during the period. Finally, Violich Capital Management Inc. purchased a new position in shares of MAXIMUS in the second quarter worth about $204,000. Institutional investors and hedge funds own 93.43% of the company’s stock.
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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