Advisors Asset Management Inc. cut its stake in shares of Maximus Inc. (NYSE:MMS) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,220 shares of the company’s stock after selling 1,543 shares during the period. Advisors Asset Management Inc.’s holdings in Maximus were worth $1,120,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Massmutual Trust Co. FSB ADV raised its position in shares of Maximus by 3.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 3,879 shares of the company’s stock valued at $204,000 after buying an additional 134 shares during the period. Navellier & Associates Inc acquired a new position in shares of Maximus during the second quarter valued at about $208,000. Parametrica Management Ltd acquired a new position in shares of Maximus during the second quarter valued at about $216,000. LS Investment Advisors LLC raised its position in shares of Maximus by 70.9% in the second quarter. LS Investment Advisors LLC now owns 3,928 shares of the company’s stock valued at $217,000 after buying an additional 1,630 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in shares of Maximus by 24.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,546 shares of the company’s stock valued at $239,000 after buying an additional 890 shares during the period. 99.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Maximus Inc. (NYSE:MMS) traded up 0.30% during midday trading on Tuesday, reaching $56.87. The company had a trading volume of 91,683 shares. The company has a 50-day moving average price of $58.55 and a 200 day moving average price of $55.38. Maximus Inc. has a one year low of $45.15 and a one year high of $69.85. The company has a market capitalization of $3.69 billion, a P/E ratio of 23.24 and a beta of 1.12.
Maximus (NYSE:MMS) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.04. Maximus had a return on equity of 23.89% and a net margin of 6.91%. The business earned $617.10 million during the quarter, compared to analysts’ expectations of $625.62 million. During the same quarter last year, the business posted $0.62 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Equities analysts anticipate that Maximus Inc. will post $2.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Monday, August 15th were issued a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 0.32%. The ex-dividend date was Thursday, August 11th. Maximus’s dividend payout ratio (DPR) is currently 7.32%.
Several equities research analysts have recently commented on MMS shares. Maxim Group boosted their price objective on Maximus from $71.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Jefferies Group boosted their price objective on Maximus from $63.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, May 31st. Wells Fargo & Co. restated a “buy” rating on shares of Maximus in a report on Tuesday, May 24th. KeyCorp started coverage on Maximus in a report on Monday, July 11th. They set a “buy” rating for the company. Finally, Zacks Investment Research downgraded Maximus from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $63.00.
In other news, President Bruce Caswell sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $56.34, for a total value of $1,690,200.00. Following the completion of the transaction, the president now owns 39,386 shares in the company, valued at approximately $2,219,007.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard A. Montoni sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $58.70, for a total value of $1,467,500.00. Following the completion of the transaction, the chief executive officer now owns 620,282 shares of the company’s stock, valued at approximately $36,410,553.40. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.
MAXIMUS, Inc provides business process services (BPS) to Government health and human services agencies. The Company is primarily focused on operating Government-sponsored programs, such as Medicaid, children’s health insurance program (CHIP), health insurance exchanges and other health care reform initiatives, Medicare, welfare-to-work, child support services and other Government programs.
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