Citigroup began coverage on shares of HMS (NASDAQ:HMSY) in a research note released on Thursday, The Fly reports. The firm issued a neutral rating on the business services provider’s stock.
Other equities research analysts have also recently issued reports about the company. Canaccord Genuity reiterated a buy rating and issued a $22.00 price objective on shares of HMS in a report on Monday, October 30th. Cantor Fitzgerald reiterated a buy rating and issued a $23.00 price objective on shares of HMS in a report on Tuesday, September 26th. Robert W. Baird restated a buy rating and set a $17.00 target price on shares of HMS in a report on Friday, November 10th. BidaskClub upgraded HMS from a sell rating to a hold rating in a report on Wednesday, December 20th. Finally, Jefferies Group restated a neutral rating on shares of HMS in a report on Sunday, November 5th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $20.39.
Shares of HMS (NASDAQ:HMSY) traded up $0.17 during trading on Thursday, hitting $17.38. The company had a trading volume of 469,000 shares, compared to its average volume of 478,350. HMS has a 1 year low of $11.01 and a 1 year high of $20.90. The stock has a market cap of $1,461.37, a price-to-earnings ratio of 59.93, a PEG ratio of 2.56 and a beta of 0.88.
HMS declared that its board has approved a share repurchase plan on Friday, November 3rd that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC raised its position in HMS by 80.4% in the second quarter. Riverhead Capital Management LLC now owns 5,592 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 2,492 shares during the period. Zions Bancorporation purchased a new stake in HMS in the third quarter valued at approximately $116,000. Pitcairn Co. purchased a new stake in HMS in the third quarter valued at approximately $203,000. Oppenheimer & Co. Inc. raised its position in HMS by 1.9% in the second 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 period. Finally, Hartford Investment Management Co. purchased a new stake in HMS in the third quarter valued at approximately $228,000. Hedge funds and other institutional investors own 95.93% of the company’s stock.
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.
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