The Providence Service Corporation (PRSC) Stake Raised by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in The Providence Service Corporation (NASDAQ:PRSC) by 10.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,050 shares of the company’s stock after buying an additional 9,975 shares during the period. Geode Capital Management LLC’s holdings in The Providence Service Corporation were worth $4,579,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in shares of The Providence Service Corporation by 11.4% in the first quarter. BNP Paribas Arbitrage SA now owns 2,256 shares of the company’s stock worth $100,000 after buying an additional 231 shares during the period. Mason Street Advisors LLC increased its stake in shares of The Providence Service Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,849 shares of the company’s stock worth $127,000 after buying an additional 187 shares during the period. Acadian Asset Management LLC bought a new stake in shares of The Providence Service Corporation during the first quarter worth $176,000. Louisiana State Employees Retirement System bought a new stake in shares of The Providence Service Corporation during the first quarter worth $222,000. Finally, Alambic Investment Management L.P. bought a new stake in shares of The Providence Service Corporation during the first quarter worth $271,000. 93.06% of the stock is owned by institutional investors and hedge funds.

Shares of The Providence Service Corporation (NASDAQ PRSC) traded down 0.44% during mid-day trading on Tuesday, reaching $50.07. 6,581 shares of the company’s stock were exchanged. The stock has a market cap of $676.00 million, a price-to-earnings ratio of 10.42 and a beta of 0.95. The stock’s 50-day moving average is $50.45 and its 200-day moving average is $45.67. The Providence Service Corporation has a 52-week low of $34.88 and a 52-week high of $54.99.

The Providence Service Corporation (NASDAQ:PRSC) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.10. The Providence Service Corporation had a net margin of 4.11% and a return on equity of 6.94%. The firm had revenue of $407.98 million during the quarter, compared to analysts’ expectations of $392.71 million. During the same period in the previous year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts expect that The Providence Service Corporation will post $1.39 EPS for the current year.

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A number of analysts have weighed in on the stock. Barrington Research increased their price target on shares of The Providence Service Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 10th. ValuEngine raised shares of The Providence Service Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub downgraded shares of The Providence Service Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded shares of The Providence Service Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $55.50.

The Providence Service Corporation Company Profile

The Providence Service Corporation (Providence) is a holding company. The Company, through its subsidiaries, is engaged in the provision of healthcare and workforce development services for public and private sector entities. The Company’s segments include Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Matrix Investment.

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Institutional Ownership by Quarter for The Providence Service Corporation (NASDAQ:PRSC)

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