Maximus Inc. (MMS) Stake Boosted by Nordea Investment Management AB
Nordea Investment Management AB boosted its stake in shares of Maximus Inc. (NYSE:MMS) by 211.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,286 shares of the company’s stock after buying an additional 6,981 shares during the period. Nordea Investment Management AB’s holdings in Maximus were worth $570,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its stake in Maximus by 466.7% in the fourth quarter. Stifel Financial Corp now owns 774,940 shares of the company’s stock valued at $18,767,000 after buying an additional 638,182 shares during the period. Summit Creek Advisors LLC boosted its stake in Maximus by 18.0% in the first quarter. Summit Creek Advisors LLC now owns 408,687 shares of the company’s stock valued at $21,513,000 after buying an additional 62,305 shares during the period. Moody Aldrich Partners LLC purchased a new stake in Maximus during the first quarter valued at approximately $779,000. Glenmede Trust Co. NA boosted its stake in Maximus by 24.3% in the first quarter. Glenmede Trust Co. NA now owns 756,851 shares of the company’s stock valued at $39,839,000 after buying an additional 147,979 shares during the period. Finally, Apex Capital Management boosted its stake in Maximus by 19.9% in the first quarter. Apex Capital Management now owns 284,692 shares of the company’s stock valued at $14,986,000 after buying an additional 47,304 shares during the period. 99.00% of the stock is owned by institutional investors.
Maximus Inc. (NYSE:MMS) traded down 1.62% on Friday, reaching $55.75. The company’s stock had a trading volume of 595,821 shares. Maximus Inc. has a 12 month low of $45.15 and a 12 month high of $69.85. The stock’s 50 day moving average price is $58.89 and its 200 day moving average price is $55.21. The company has a market cap of $3.62 billion, a P/E ratio of 22.78 and a beta of 1.12.
Maximus (NYSE:MMS) last released its earnings results on Thursday, August 4th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.04. Maximus had a return on equity of 23.89% and a net margin of 6.91%. The firm earned $617.10 million during the quarter, compared to analysts’ expectations of $625.62 million. During the same period in the prior year, the company earned $0.62 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Maximus Inc. will post $2.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Monday, August 15th were paid a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 0.32%. The ex-dividend date was Thursday, August 11th. Maximus’s payout ratio is presently 7.32%.
MMS has been the subject of several research reports. Wells Fargo & Co. reissued a “buy” rating on shares of Maximus in a research note on Tuesday, May 24th. Jefferies Group lifted their target price on Maximus from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, May 31st. KeyCorp initiated coverage on Maximus in a research note on Thursday, June 30th. They issued an “overweight” rating and a $63.00 target price for the company. Zacks Investment Research cut Maximus from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Finally, Maxim Group lifted their target price on Maximus from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Maximus has a consensus rating of “Buy” and an average target price of $63.00.
In other news, CEO Richard A. Montoni sold 25,000 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were 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 directly owns 620,282 shares in the company, valued at $36,410,553.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David Francis sold 1,500 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $58.69, for a total transaction of $88,035.00. Following the transaction, the general counsel now owns 21,936 shares of the company’s stock, valued at $1,287,423.84. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.
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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