Cornerstone Capital Management Holdings LLC. Cuts Stake in HMS Holdings Corp (HMSY)

Cornerstone Capital Management Holdings LLC. reduced its position in HMS Holdings Corp (NASDAQ:HMSY) by 88.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,347 shares of the business services provider’s stock after selling 141,506 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in HMS were worth $383,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverhead Capital Management LLC boosted its holdings in HMS by 80.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,592 shares of the business services provider’s stock valued at $104,000 after acquiring an additional 2,492 shares during the period. Koch Industries Inc. purchased a new stake in HMS during the 2nd quarter valued at about $197,000. Oppenheimer & Co. Inc. raised its position in HMS by 1.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 10,867 shares of the business services provider’s stock valued at $201,000 after purchasing an additional 200 shares during the last quarter. Pitcairn Co. bought a new position in HMS during the 3rd quarter valued at approximately $203,000. Finally, Amalgamated Bank raised its position in HMS by 3.8% during the 2nd quarter. Amalgamated Bank now owns 11,574 shares of the business services provider’s stock valued at $214,000 after purchasing an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 95.93% of the company’s stock.

HMS Holdings Corp (NASDAQ HMSY) opened at $16.92 on Thursday. HMS Holdings Corp has a 52-week low of $11.01 and a 52-week high of $20.90. The stock has a market capitalization of $1,430.00, a P/E ratio of 58.34, a PEG ratio of 2.85 and a beta of 0.87.

HMS (NASDAQ:HMSY) last announced its earnings results on Friday, November 3rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.03). HMS had a return on equity of 7.93% and a net margin of 4.94%. The firm had revenue of $125.70 million during the quarter, compared to the consensus estimate of $147.62 million. During the same period in the prior year, the company posted $0.24 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. equities analysts anticipate that HMS Holdings Corp will post 0.55 earnings per share for the current year.

HMS declared that its board has authorized a share buyback plan on Friday, November 3rd that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

A number of research analysts have commented on HMSY shares. Robert W. Baird reaffirmed a “buy” rating on shares of HMS in a research report on Sunday, November 19th. Canaccord Genuity reaffirmed a “buy” rating and set a $22.00 price target on shares of HMS in a research report on Monday, October 30th. Jefferies Group reaffirmed a “neutral” rating on shares of HMS in a research report on Sunday, November 5th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $16.00 price target on shares of HMS in a research report on Sunday, November 19th. Finally, Zacks Investment Research lowered HMS from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $20.39.

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HMS Company Profile

HMS Holdings Corp. is a holding company. The Company, through its subsidiaries, operates in the United States healthcare insurance benefit cost containment marketplace. It provides coordination of benefits services to government, and private healthcare payers and sponsors. Its payment integrity services ensure that healthcare claims billed are accurate and appropriate.

Institutional Ownership by Quarter for HMS (NASDAQ:HMSY)

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