The Providence Service (NASDAQ:PRSC) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

Separately, ValuEngine lowered shares of The Providence Service from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd.

Shares of NASDAQ:PRSC opened at $59.24 on Friday. The Providence Service has a 12 month low of $57.50 and a 12 month high of $83.90. The firm has a market cap of $799.30 million, a P/E ratio of 30.44 and a beta of 0.67.

The Providence Service (NASDAQ:PRSC) last announced its quarterly earnings results on Wednesday, November 7th. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.30. The Providence Service had a net margin of 1.80% and a return on equity of 8.71%. The firm had revenue of $421.32 million for the quarter, compared to analyst estimates of $404.90 million. During the same period last year, the business earned $0.32 EPS. The Providence Service’s revenue for the quarter was up 2.9% compared to the same quarter last year.

Large investors have recently made changes to their positions in the stock. WINTON GROUP Ltd grew its position in The Providence Service by 13.2% during the 2nd quarter. WINTON GROUP Ltd now owns 9,055 shares of the company’s stock worth $711,000 after purchasing an additional 1,053 shares during the last quarter. ClariVest Asset Management LLC grew its position in The Providence Service by 177.5% during the 2nd quarter. ClariVest Asset Management LLC now owns 13,288 shares of the company’s stock worth $1,043,000 after purchasing an additional 8,500 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in The Providence Service by 156.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 17,070 shares of the company’s stock worth $1,341,000 after purchasing an additional 10,424 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in The Providence Service by 13.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 66,523 shares of the company’s stock worth $5,226,000 after purchasing an additional 7,750 shares during the last quarter. Finally, BlackRock Inc. grew its position in The Providence Service by 4.7% during the 2nd quarter. BlackRock Inc. now owns 1,675,549 shares of the company’s stock worth $131,615,000 after purchasing an additional 75,923 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

The Providence Service Company Profile

The Providence Service Corporation, through its subsidiaries, provides healthcare and workforce development services in the United States and internationally. It operates in two segments, Non-Emergency Transportation Services (NET Services) and Workforce Development Services (WD Services). The NET Services segment offers non-emergency medical transportation services for Medicaid or Medicare eligible members, whose limited mobility or financial resources hinder their ability to access necessary healthcare and social services.

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