Alliancebernstein L.P. Buys 1,200 Shares of The Providence Service Corporation (PRSC)

Alliancebernstein L.P. boosted its stake in shares of The Providence Service Corporation (NASDAQ:PRSC) by 8.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,823 shares of the company’s stock after purchasing an additional 1,200 shares during the period. Alliancebernstein L.P. owned 0.11% of The Providence Service Corporation worth $750,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Comerica Bank boosted its position in The Providence Service Corporation by 13.4% during the second quarter. Comerica Bank now owns 55,856 shares of the company’s stock valued at $2,949,000 after purchasing an additional 6,602 shares during the last quarter. Credit Suisse AG boosted its position in The Providence Service Corporation by 14.3% during the first quarter. Credit Suisse AG now owns 24,731 shares of the company’s stock valued at $1,098,000 after purchasing an additional 3,101 shares during the last quarter. Neuberger Berman Group LLC boosted its position in The Providence Service Corporation by 4.6% during the second quarter. Neuberger Berman Group LLC now owns 557,471 shares of the company’s stock valued at $28,214,000 after purchasing an additional 24,639 shares during the last quarter. Eagle Boston Investment Management Inc. boosted its position in The Providence Service Corporation by 2.4% during the second quarter. Eagle Boston Investment Management Inc. now owns 213,870 shares of the company’s stock valued at $10,823,000 after purchasing an additional 5,091 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in The Providence Service Corporation by 10.4% during the second quarter. Prudential Financial Inc. now owns 120,179 shares of the company’s stock valued at $6,082,000 after purchasing an additional 11,352 shares during the last quarter. 93.35% of the stock is owned by hedge funds and other institutional investors.

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Shares of The Providence Service Corporation (PRSC) opened at 55.60 on Wednesday. The stock has a 50 day moving average price of $54.17 and a 200-day moving average price of $49.99. The firm has a market capitalization of $750.66 million, a PE ratio of 11.57 and a beta of 0.97. The Providence Service Corporation has a 52-week low of $34.88 and a 52-week high of $57.62.

The Providence Service Corporation (NASDAQ:PRSC) last released its earnings results on Tuesday, August 8th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.10. The company had revenue of $407.98 million during the quarter, compared to analyst estimates of $392.71 million. The Providence Service Corporation had a return on equity of 6.94% and a net margin of 4.11%. The Providence Service Corporation’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. Equities analysts forecast that The Providence Service Corporation will post $1.44 EPS for the current year.

Several brokerages recently commented on PRSC. Barrington Research increased their price target on The Providence Service Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 10th. BidaskClub cut The Providence Service Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine cut The Providence Service Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 7th.

The Providence Service Corporation 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.

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

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