State of Wisconsin Investment Board cut its position in MAXIMUS, Inc. (NYSE:MMS) by 0.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 207,400 shares of the health services provider’s stock after selling 800 shares during the quarter. State of Wisconsin Investment Board’s holdings in MAXIMUS were worth $12,882,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. raised its holdings in MAXIMUS by 411.7% in the first quarter. Meeder Asset Management Inc. now owns 1,612 shares of the health services provider’s stock worth $108,000 after buying an additional 1,297 shares during the last quarter. Ostrum Asset Management purchased a new position in MAXIMUS in the first quarter worth about $109,000. We Are One Seven LLC raised its holdings in MAXIMUS by 241.3% in the first quarter. We Are One Seven LLC now owns 2,017 shares of the health services provider’s stock worth $135,000 after buying an additional 1,426 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in MAXIMUS in the first quarter worth about $205,000. Finally, First National Bank of Omaha purchased a new position in MAXIMUS in the first quarter worth about $225,000. 96.19% of the stock is owned by institutional investors and hedge funds.

In other MAXIMUS news, Director Russell A. Beliveau sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $61.91, for a total transaction of $61,910.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul R. Lederer sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $64.05, for a total transaction of $480,375.00. Following the sale, the director now directly owns 62,535 shares of the company’s stock, valued at $4,005,366.75. The disclosure for this sale can be found here. 2.48% of the stock is owned by insiders.

MMS has been the subject of several research reports. First Analysis raised shares of MAXIMUS from an “equal” rating to a “weight” rating and boosted their price objective for the company from $73.00 to $81.00 in a report on Tuesday, May 8th. Zacks Investment Research raised shares of MAXIMUS from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Thursday, May 10th. Finally, Canaccord Genuity decreased their price objective on shares of MAXIMUS from $65.00 to $64.00 and set a “hold” rating for the company in a report on Friday, May 11th. Four equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $71.00.

MMS opened at $65.09 on Friday. MAXIMUS, Inc. has a twelve month low of $58.89 and a twelve month high of $72.71. The company has a market cap of $4.07 billion, a PE ratio of 21.48, a P/E/G ratio of 2.44 and a beta of 1.16.

MAXIMUS (NYSE:MMS) last released its quarterly earnings data on Thursday, August 9th. The health services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.09. MAXIMUS had a net margin of 9.28% and a return on equity of 21.51%. The firm had revenue of $597.90 million during the quarter, compared to analysts’ expectations of $591.91 million. During the same period in the previous year, the company earned $0.86 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. analysts anticipate that MAXIMUS, Inc. will post 3.24 EPS for the current fiscal year.

MAXIMUS announced that its Board of Directors has approved a share buyback plan on Monday, June 25th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the health services provider to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th will be issued a dividend of $0.045 per share. The ex-dividend date is Tuesday, August 14th. This represents a $0.18 annualized dividend and a dividend yield of 0.28%. MAXIMUS’s payout ratio is 5.94%.

MAXIMUS Company Profile

MAXIMUS, Inc provides business process services (BPS) to government health and human services programs in the United States, the United Kingdom, Australia, Canada, Singapore, and Saudi Arabia. The company's Health Services segment offers various BPS, appeals, and assessments, as well as related consulting services for state, provincial, and national government programs comprising Medicaid, Children's Health Insurance Program, the Affordable Care Act, Health Insurance British Columbia, the Health Assessment Advisory Service, and Preadmission Screening and Resident Reviews.

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Institutional Ownership by Quarter for MAXIMUS (NYSE:MMS)

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