Royal Bank of Canada Lowers Position in Maximus, Inc. (MMS)
Royal Bank of Canada cut its holdings in Maximus, Inc. (NYSE:MMS) by 94.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,066 shares of the health services provider’s stock after selling 184,890 shares during the quarter. Royal Bank of Canada’s holdings in Maximus were worth $631,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in MMS. Vanguard Group Inc. raised its holdings in Maximus by 2.4% in the second quarter. Vanguard Group Inc. now owns 5,669,026 shares of the health services provider’s stock worth $355,052,000 after purchasing an additional 130,839 shares in the last quarter. FMR LLC raised its holdings in Maximus by 10.4% in the second quarter. FMR LLC now owns 4,658,584 shares of the health services provider’s stock worth $291,767,000 after purchasing an additional 438,025 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Maximus by 8.6% in the second quarter. Victory Capital Management Inc. now owns 3,100,903 shares of the health services provider’s stock worth $194,210,000 after purchasing an additional 244,823 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Maximus by 11.0% in the second quarter. Bank of New York Mellon Corp now owns 1,281,035 shares of the health services provider’s stock worth $80,230,000 after purchasing an additional 126,939 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Maximus by 1.1% in the second quarter. Northern Trust Corp now owns 1,175,219 shares of the health services provider’s stock worth $73,603,000 after purchasing an additional 12,977 shares in the last quarter. 97.58% of the stock is owned by institutional investors.
A number of brokerages have commented on MMS. Canaccord Genuity reduced their target price on shares of Maximus from $62.00 to $61.00 and set a “hold” rating for the company in a report on Friday. BidaskClub downgraded shares of Maximus from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Zacks Investment Research downgraded shares of Maximus from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Robert W. Baird reiterated a “hold” rating and issued a $64.00 target price on shares of Maximus in a report on Friday, September 1st. Finally, Maxim Group set a $66.00 target price on shares of Maximus and gave the stock a “hold” rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $63.00.
Maximus, Inc. (NYSE MMS) opened at $63.09 on Friday. Maximus, Inc. has a fifty-two week low of $48.86 and a fifty-two week high of $66.96. The stock has a market cap of $4,123.01, a PE ratio of 20.45, a PEG ratio of 1.93 and a beta of 1.32.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.045 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.18 annualized dividend and a dividend yield of 0.29%. Maximus’s dividend payout ratio (DPR) is currently 5.66%.
In related news, General Counsel David Francis sold 2,000 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $58.89, for a total value of $117,780.00. Following the transaction, the general counsel now owns 13,716 shares in the company, valued at approximately $807,735.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Bruce Caswell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $60.50, for a total transaction of $484,000.00. Following the completion of the transaction, the president now owns 35,904 shares in the company, valued at approximately $2,172,192. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,403 shares of company stock worth $8,387,641. Corporate insiders own 3.10% of the company’s stock.
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Maximus Company Profile
MAXIMUS, Inc provides business process services (BPS) to government health and human services agencies. The Company operates through three segments: U.S. Federal Services, Health Services and Human Services. The U.S. Federal Services segment provides BPS and program management for large government programs, independent health review and appeals services for both the United States Federal Government, and state-based programs and technology solutions for civilian federal programs.
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