Dimensional Fund Advisors LP lowered its stake in shares of Maximus Inc. (NYSE:MMS) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 683,846 shares of the company’s stock after selling 54,502 shares during the period. Dimensional Fund Advisors LP owned approximately 1.05% of Maximus worth $37,860,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Arizona State Retirement System raised its stake in Maximus by 5.0% in the first quarter. Arizona State Retirement System now owns 35,631 shares of the company’s stock valued at $1,876,000 after buying an additional 1,700 shares in the last quarter. Mount Lucas Management LP increased its stake in shares of Maximus by 10.4% in the first quarter. Mount Lucas Management LP now owns 9,073 shares of the company’s stock valued at $478,000 after buying an additional 853 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Maximus by 2.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 103,228 shares of the company’s stock valued at $5,434,000 after buying an additional 2,177 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Maximus by 3.3% in the first quarter. Envestnet Asset Management Inc. now owns 55,305 shares of the company’s stock valued at $2,911,000 after buying an additional 1,754 shares during the period. Finally, Makaira Partners LLC purchased a new stake in shares of Maximus during the first quarter valued at approximately $23,251,000. 99.00% of the stock is owned by institutional investors and hedge funds.
Maximus Inc. (NYSE:MMS) opened at 54.18 on Wednesday. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 22.14 and a beta of 1.15. The stock’s 50 day moving average is $56.66 and its 200 day moving average is $55.99. Maximus Inc. has a 52 week low of $45.15 and a 52 week high of $69.85.
Maximus (NYSE:MMS) last issued its earnings results on Thursday, August 4th. The company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.04. The business had revenue of $617.10 million for 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 firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 earnings per share. Equities research analysts expect that Maximus Inc. will post $2.65 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Tuesday, November 15th will be issued a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 0.33%. Maximus’s payout ratio is 7.32%.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Maximus from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. KeyCorp assumed coverage on shares of Maximus in a research note on Monday, July 11th. They issued a “buy” rating on the stock. Finally, Maxim Group upped their price objective on shares of Maximus from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Maximus has a consensus rating of “Buy” and a consensus price target of $63.00.
In other Maximus news, President Bruce Caswell sold 30,000 shares of the company’s stock in a transaction on 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 transaction, the president now directly owns 39,386 shares in the company, valued at $2,322,986.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel David Francis sold 1,500 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $58.91, for a total transaction of $88,365.00. Following the completion of the transaction, the general counsel now owns 23,436 shares in the company, valued at $1,380,614.76. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.
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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