Tower Research Capital LLC TRC Has $284,000 Position in Maximus Inc. (MMS)
Tower Research Capital LLC TRC boosted its stake in shares of Maximus Inc. (NYSE:MMS) by 51,180.0% during the second quarter, Holdings Channel reports. The institutional investor owned 5,128 shares of the company’s stock after buying an additional 5,118 shares during the period. Tower Research Capital LLC TRC’s holdings in Maximus were worth $284,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in MMS. Glenmede Trust Co. NA increased its position in shares of 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 in the last quarter. Apex Capital Management increased its position in shares of 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 in the last quarter. Virginia Retirement System purchased a new position in shares of Maximus during the first quarter valued at about $1,527,000. Icon Advisers Inc. Co. increased its position in shares of Maximus by 39.8% in the first quarter. Icon Advisers Inc. Co. now owns 22,500 shares of the company’s stock valued at $1,184,000 after buying an additional 6,400 shares in the last quarter. Finally, Allegis Investment Advisors LLC increased its position in shares of Maximus by 32.1% in the first quarter. Allegis Investment Advisors LLC now owns 19,920 shares of the company’s stock valued at $1,049,000 after buying an additional 4,837 shares in the last quarter. 99.00% of the stock is owned by hedge funds and other institutional investors.
Shares of Maximus Inc. (NYSE:MMS) opened at 57.00 on Thursday. The stock’s 50 day moving average is $58.45 and its 200 day moving average is $55.43. The firm has a market cap of $3.70 billion, a PE ratio of 23.29 and a beta of 1.12. Maximus Inc. has a 12 month low of $45.15 and a 12 month high of $69.85.
Maximus (NYSE:MMS) last released its earnings results on Thursday, August 4th. The company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.04. The company had revenue of $617.10 million for the quarter, compared to analysts’ expectations of $625.62 million. Maximus had a return on equity of 23.89% and a net margin of 6.91%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 EPS. Analysts forecast that Maximus Inc. will post $2.65 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Monday, August 15th were paid a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Thursday, August 11th. Maximus’s payout ratio is 7.32%.
MMS has been the subject of several analyst reports. Jefferies Group lifted their price target on shares of Maximus from $63.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, May 31st. KeyCorp assumed coverage on shares of 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 downgraded shares of Maximus from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Finally, Maxim Group boosted their target price on shares of Maximus from $71.00 to $74.00 and gave the stock 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 given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $63.00.
In related news, General Counsel David Francis sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $58.69, for a total value of $88,035.00. Following the sale, the general counsel now directly owns 21,936 shares in the company, valued at approximately $1,287,423.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul R. Lederer sold 500 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $59.15, for a total value of $29,575.00. Following the completion of the sale, the director now owns 74,674 shares in the company, valued at $4,416,967.10. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.
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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