Morgan Stanley reduced its stake in The Providence Service Corporation (NASDAQ:PRSC) by 43.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 36,443 shares of the company’s stock after selling 27,653 shares during the period. Morgan Stanley owned approximately 0.27% of The Providence Service Corporation worth $1,619,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its position in The Providence Service Corporation by 11.4% in the first quarter. BNP Paribas Arbitrage SA now owns 2,256 shares of the company’s stock valued at $100,000 after buying an additional 231 shares during the last quarter. Mason Street Advisors LLC boosted its position in The Providence Service Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,849 shares of the company’s stock valued at $127,000 after buying an additional 187 shares during the last quarter. Globeflex Capital L P boosted its position in The Providence Service Corporation by 18,235.3% in the first quarter. Globeflex Capital L P now owns 3,117 shares of the company’s stock valued at $139,000 after buying an additional 3,100 shares during the last quarter. Acadian Asset Management LLC purchased a new position in The Providence Service Corporation during the first quarter valued at $176,000. Finally, Louisiana State Employees Retirement System purchased a new position in The Providence Service Corporation during the first quarter valued at $222,000. 93.14% of the stock is currently owned by hedge funds and other institutional investors.

The Providence Service Corporation (PRSC) traded up 1.02% on Friday, reaching $52.36. The company had a trading volume of 33,401 shares. The Providence Service Corporation has a 12-month low of $34.89 and a 12-month high of $54.99. The stock’s 50 day moving average price is $50.92 and its 200-day moving average price is $46.75. The stock has a market capitalization of $706.91 million, a PE ratio of 10.90 and a beta of 0.99.

The Providence Service Corporation (NASDAQ:PRSC) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.22 by $0.10. The business had revenue of $407.98 million for the quarter, compared to analysts’ expectations of $392.71 million. The Providence Service Corporation had a net margin of 4.11% and a return on equity of 6.94%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. Equities analysts expect that The Providence Service Corporation will post $1.44 earnings per share for the current fiscal year.

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PRSC has been the topic of a number of research analyst reports. Barrington Research increased their target price on The Providence Service Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 10th. ValuEngine raised The Providence Service Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub cut The Providence Service Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research cut The Providence Service Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $55.50.

About The Providence Service Corporation

The Providence Service Corporation (Providence) is a holding company. The Company, through its subsidiaries, is engaged in the provision of healthcare and workforce development services for public and private sector entities. The Company’s segments include Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Matrix Investment.

Institutional Ownership by Quarter for The Providence Service Corporation (NASDAQ:PRSC)

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