California State Teachers Retirement System increased its stake in shares of MAXIMUS, Inc. (NYSE:MMS) by 1.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 99,137 shares of the health services provider’s stock after acquiring an additional 1,184 shares during the period. California State Teachers Retirement System’s holdings in MAXIMUS were worth $7,659,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pictet Asset Management Ltd. purchased a new position in MAXIMUS in the 3rd quarter valued at $34,666,000. Stifel Financial Corp boosted its holdings in shares of MAXIMUS by 18.8% in the third quarter. Stifel Financial Corp now owns 4,919 shares of the health services provider’s stock valued at $381,000 after acquiring an additional 780 shares in the last quarter. State Street Corp boosted its holdings in shares of MAXIMUS by 1.2% in the third quarter. State Street Corp now owns 2,098,193 shares of the health services provider’s stock valued at $162,106,000 after acquiring an additional 24,553 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of MAXIMUS by 1.5% in the third quarter. Voya Investment Management LLC now owns 141,671 shares of the health services provider’s stock valued at $10,946,000 after acquiring an additional 2,049 shares in the last quarter. Finally, Tygh Capital Management Inc. acquired a new position in shares of MAXIMUS during the third quarter worth about $6,202,000. 94.95% of the stock is currently owned by hedge funds and other institutional investors.
In related news, General Counsel David Francis sold 6,496 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $77.43, for a total value of $502,985.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond B. Ruddy sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $79.89, for a total transaction of $1,997,250.00. Following the completion of the sale, the director now owns 156,852 shares of the company’s stock, valued at approximately $12,530,906.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,496 shares of company stock worth $4,398,575. Corporate insiders own 2.20% of the company’s stock.
MAXIMUS (NYSE:MMS) last released its quarterly earnings data on Tuesday, November 19th. The health services provider reported $0.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). MAXIMUS had a return on equity of 21.09% and a net margin of 8.34%. The business had revenue of $754.97 million during the quarter, compared to analysts’ expectations of $756.40 million. During the same quarter in the previous year, the company posted $0.71 EPS. The company’s revenue was up 35.2% compared to the same quarter last year. Research analysts expect that MAXIMUS, Inc. will post 4.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, November 14th. This is a boost from MAXIMUS’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.50%. MAXIMUS’s dividend payout ratio is 30.11%.
Several research firms recently issued reports on MMS. Wells Fargo & Co reissued a “market perform” rating and set a $83.00 price target on shares of MAXIMUS in a report on Friday, August 9th. ValuEngine raised MAXIMUS from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Finally, Canaccord Genuity lifted their price objective on MAXIMUS from $72.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, August 13th.
MAXIMUS, Inc provides business process services (BPS) to government health and human services programs worldwide. The company's Health Services segment offers various BPS, appeals, and assessments for state, provincial, and national government programs, including Medicaid, Children's Health Insurance Program, Affordable Care Act, Health Insurance British Columbia, Health Assessment Advisory Service contract, and Preadmission Screening and Resident Reviews.
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