Teacher Retirement System of Texas raised its position in Maximus Inc. (NYSE:MMS) by 13.8% during the second quarter, Holdings Channel reports. The fund owned 9,136 shares of the company’s stock after buying an additional 1,106 shares during the period. Teacher Retirement System of Texas’ holdings in Maximus were worth $506,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Makaira Partners LLC purchased a new position in shares of Maximus during the first quarter worth $23,251,000. Wellington Management Group LLP raised its position in shares of Maximus by 0.7% in the first quarter. Wellington Management Group LLP now owns 1,126,578 shares of the company’s stock worth $59,303,000 after buying an additional 7,330 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Maximus by 67.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,211,350 shares of the company’s stock worth $63,765,000 after buying an additional 488,027 shares during the last quarter. UBS Group AG raised its position in shares of Maximus by 81.4% in the first quarter. UBS Group AG now owns 15,772 shares of the company’s stock worth $831,000 after buying an additional 7,076 shares during the last quarter. Finally, State Street Corp raised its position in shares of Maximus by 0.9% in the first quarter. State Street Corp now owns 2,113,848 shares of the company’s stock worth $111,276,000 after buying an additional 17,949 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.
Shares of Maximus Inc. (NYSE:MMS) traded up 0.53% during mid-day trading on Wednesday, reaching $55.00. 43,451 shares of the company’s stock traded hands. Maximus Inc. has a 12-month low of $45.15 and a 12-month high of $69.85. The stock has a market capitalization of $3.57 billion, a PE ratio of 22.48 and a beta of 1.15. The company’s 50-day moving average price is $57.73 and its 200-day moving average price is $55.78.
Maximus (NYSE:MMS) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The business earned $617.10 million during the quarter, compared to the consensus estimate of $625.62 million. Maximus had a net margin of 6.91% and a return on equity of 23.89%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Analysts anticipate that Maximus Inc. will post $2.65 earnings per share for the current year.
A number of research analysts have recently weighed in on the company. Maxim Group raised their price objective on Maximus from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. KeyCorp assumed coverage on Maximus in a research report on Monday, July 11th. They set a “buy” rating for the company. Finally, Zacks Investment Research lowered Maximus from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $63.00.
In other Maximus news, President Bruce Caswell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $58.98, for a total value of $1,769,400.00. Following the completion of the transaction, the president now owns 39,386 shares in the company, valued at $2,322,986.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Richard A. Montoni sold 25,000 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $58.70, for a total transaction of $1,467,500.00. Following the completion of the transaction, the chief executive officer now owns 620,282 shares of the company’s stock, valued at approximately $36,410,553.40. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.
Maximus Company Profile
MAXIMUS, Inc provides business process services (BPS) to Government health and human services agencies. The Company is primarily focused on operating Government-sponsored programs, such as Medicaid, children’s health insurance program (CHIP), health insurance exchanges and other health care reform initiatives, Medicare, welfare-to-work, child support services and other Government programs.
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