HMS Holdings Corp (HMSY) Reaches New 12-Month Low on Disappointing Earnings
HMS Holdings Corp (NASDAQ:HMSY)’s share price hit a new 52-week low on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $14.36 and last traded at $0.00, with a volume of shares. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). HMS Holdings Corp had a return on equity of 9.26% and a net margin of 6.37%. The firm had revenue of $125.70 million for the quarter, compared to the consensus estimate of $147.62 million. During the same period in the previous year, the company posted $0.24 EPS. HMS Holdings Corp’s quarterly revenue was up 2.3% compared to the same quarter last year.
A number of equities analysts have recently issued reports on HMSY shares. Canaccord Genuity started coverage on HMS Holdings Corp in a research report on Tuesday, July 11th. They set a “buy” rating and a $22.00 price target on the stock. Cantor Fitzgerald reissued a “buy” rating and set a $23.00 price target on shares of HMS Holdings Corp in a research report on Tuesday, September 26th. Robert W. Baird reaffirmed a “buy” rating and set a $22.00 price objective on shares of HMS Holdings Corp in a research report on Thursday, August 31st. Zacks Investment Research raised HMS Holdings Corp from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Tuesday, August 1st. Finally, BidaskClub downgraded HMS Holdings Corp from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $22.94.
In other HMS Holdings Corp news, EVP Cynthia Nustad sold 22,907 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $17.64, for a total value of $404,079.48. Following the completion of the sale, the executive vice president now directly owns 73,877 shares in the company, valued at $1,303,190.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Douglas M. Williams sold 13,140 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $17.78, for a total value of $233,629.20. Following the completion of the sale, the insider now owns 121,264 shares of the company’s stock, valued at $2,156,073.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,675 shares of company stock worth $1,602,166. 3.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Asymmetry Capital Management L.P. purchased a new stake in HMS Holdings Corp in the third quarter valued at about $2,818,000. Tygh Capital Management Inc. raised its stake in HMS Holdings Corp by 7.3% in the third quarter. Tygh Capital Management Inc. now owns 376,894 shares of the business services provider’s stock valued at $7,485,000 after buying an additional 25,561 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in HMS Holdings Corp in the third quarter valued at about $8,673,000. Palisade Capital Management LLC NJ raised its stake in HMS Holdings Corp by 5.0% in the third quarter. Palisade Capital Management LLC NJ now owns 1,248,358 shares of the business services provider’s stock valued at $24,792,000 after buying an additional 59,109 shares during the last quarter. Finally, Bridge City Capital LLC raised its stake in HMS Holdings Corp by 8.7% in the third quarter. Bridge City Capital LLC now owns 35,870 shares of the business services provider’s stock valued at $712,000 after buying an additional 2,867 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.
HMS Holdings Corp Company Profile
HMS Holdings Corp. is a holding company. The Company, through its subsidiaries, operates in the United States healthcare insurance benefit cost containment marketplace. It provides coordination of benefits services to government, and private healthcare payers and sponsors. Its payment integrity services ensure that healthcare claims billed are accurate and appropriate.
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