MAXIMUS, Inc. (NYSE:MMS) reached a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $60.00 and last traded at $61.96, with a volume of 378408 shares trading hands. The stock had previously closed at $63.95.

The health services provider reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.01). MAXIMUS had a net margin of 9.28% and a return on equity of 21.51%. The firm had revenue of $558.50 million during the quarter, compared to the consensus estimate of $587.58 million. During the same period in the previous year, the company posted $0.81 EPS. The firm’s revenue for the quarter was down 10.0% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.57%. The ex-dividend date is Wednesday, November 14th. This is an increase from MAXIMUS’s previous quarterly dividend of $0.05. MAXIMUS’s dividend payout ratio is presently 33.00%.

MMS has been the subject of several recent analyst reports. Canaccord Genuity upped their target price on shares of MAXIMUS from $64.00 to $67.00 and gave the company a “hold” rating in a research note on Wednesday, October 10th. Zacks Investment Research raised shares of MAXIMUS from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th.

In other news, Vice Chairman Richard A. Montoni sold 44,002 shares of the stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $64.99, for a total transaction of $2,859,689.98. Following the completion of the sale, the insider now owns 493,476 shares of the company’s stock, valued at $32,071,005.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel David Francis sold 6,220 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $63.86, for a total transaction of $397,209.20. The disclosure for this sale can be found here. Insiders sold 66,222 shares of company stock valued at $4,307,909 in the last ninety days. Insiders own 2.48% of the company’s stock.

Several hedge funds have recently modified their holdings of MMS. Millennium Management LLC increased its position in shares of MAXIMUS by 194.9% during the first quarter. Millennium Management LLC now owns 51,876 shares of the health services provider’s stock worth $3,462,000 after acquiring an additional 34,286 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of MAXIMUS by 2.4% during the first quarter. Principal Financial Group Inc. now owns 288,467 shares of the health services provider’s stock worth $19,252,000 after acquiring an additional 6,866 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in shares of MAXIMUS by 23.2% during the second quarter. Xact Kapitalforvaltning AB now owns 9,016 shares of the health services provider’s stock worth $560,000 after acquiring an additional 1,700 shares in the last quarter. Amalgamated Bank increased its position in shares of MAXIMUS by 14.2% during the second quarter. Amalgamated Bank now owns 10,564 shares of the health services provider’s stock worth $656,000 after acquiring an additional 1,315 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of MAXIMUS by 18.4% during the second quarter. Bessemer Group Inc. now owns 34,700 shares of the health services provider’s stock worth $2,155,000 after acquiring an additional 5,400 shares in the last quarter. 93.53% of the stock is owned by institutional investors.

The stock has a market capitalization of $4.24 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 2.42 and a beta of 0.97.

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About MAXIMUS (NYSE:MMS)

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.

Further Reading: Coverage Ratio

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