Kornitzer Capital Management Inc. KS Sells 102,615 Shares of HMS Holdings Corp (NASDAQ:HMSY)
Kornitzer Capital Management Inc. KS lowered its stake in HMS Holdings Corp (NASDAQ:HMSY) by 44.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,330 shares of the business services provider’s stock after selling 102,615 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.15% of HMS worth $4,124,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC bought a new stake in HMS during the 1st quarter valued at $25,000. Steward Partners Investment Advisory LLC bought a new stake in HMS during the 2nd quarter valued at $35,000. Financial Gravity Wealth Inc. bought a new stake in HMS during the 1st quarter valued at $46,000. Quadrant Capital Group LLC increased its stake in HMS by 97.4% during the 1st quarter. Quadrant Capital Group LLC now owns 1,601 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 790 shares in the last quarter. Finally, Globeflex Capital L P bought a new stake in HMS during the 1st quarter valued at $115,000. Institutional investors own 95.74% of the company’s stock.
A number of equities analysts have issued reports on the stock. Credit Suisse Group lifted their price objective on shares of HMS from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. KeyCorp assumed coverage on shares of HMS in a report on Monday, June 24th. They set a “sector weight” rating and a $31.86 price objective on the stock. Zacks Investment Research downgraded shares of HMS from a “buy” rating to a “hold” rating in a report on Friday, May 10th. BidaskClub raised shares of HMS from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Leerink Swann assumed coverage on shares of HMS in a report on Monday, August 5th. They set an “outperform” rating and a $50.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $42.10.
HMS (NASDAQ:HMSY) last posted its quarterly earnings data on Friday, August 2nd. The business services provider reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.18. The company had revenue of $168.20 million for the quarter, compared to analysts’ expectations of $158.25 million. HMS had a net margin of 16.08% and a return on equity of 15.22%. HMS’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 earnings per share. Analysts expect that HMS Holdings Corp will post 1.08 earnings per share for the current fiscal year.
In other HMS news, Chairman William C. Lucia sold 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $31.04, for a total value of $37,248.00. Following the completion of the sale, the chairman now owns 143,632 shares of the company’s stock, valued at $4,458,337.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Greg D. Aunan sold 32,741 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $37.50, for a total value of $1,227,787.50. Following the completion of the sale, the senior vice president now directly owns 61,791 shares of the company’s stock, valued at approximately $2,317,162.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 561,876 shares of company stock worth $20,353,627. 2.87% of the stock is owned by company insiders.
HMS Company Profile
HMS Holdings Corp., through its subsidiaries, provides cost containment solutions in the United States healthcare marketplace. The company offers coordination of benefits services to government and commercial healthcare payers to ensure that the correct party pays the claim; and population management solutions that provide risk-bearing organizations with intelligence across their member populations to identify risks, and enhance patient engagement and outcomes, as well as payment integrity, care management and consumer engagement, and analytical solutions.
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