MAXIMUS (NYSE:MMS) PT Raised to $77.00 at Canaccord Genuity

MAXIMUS (NYSE:MMS) had its price target increased by Canaccord Genuity from $72.00 to $77.00 in a report published on Tuesday morning, BenzingaRatingsTable reports. Canaccord Genuity currently has a hold rating on the health services provider’s stock.

Several other equities research analysts also recently commented on MMS. Wells Fargo & Co reissued a market perform rating and issued a $83.00 price objective on shares of MAXIMUS in a report on Friday, August 9th. ValuEngine downgraded MAXIMUS from a buy rating to a hold rating in a report on Friday, June 28th. Finally, Zacks Investment Research raised MAXIMUS from a hold rating to a buy rating and set a $75.00 price objective for the company in a report on Monday, May 27th.

Shares of MMS opened at $75.92 on Tuesday. The stock has a market capitalization of $4.88 billion, a P/E ratio of 22.33, a P/E/G ratio of 2.05 and a beta of 0.88. MAXIMUS has a twelve month low of $60.00 and a twelve month high of $80.83. The company has a 50 day moving average of $73.74 and a 200-day moving average of $72.41.

MAXIMUS (NYSE:MMS) last issued its quarterly earnings results on Thursday, August 8th. The health services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $730.70 million during the quarter, compared to analysts’ expectations of $754.81 million. MAXIMUS had a net margin of 8.44% and a return on equity of 20.72%. The business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. Equities research analysts forecast that MAXIMUS will post 3.73 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Wednesday, August 14th. MAXIMUS’s payout ratio is presently 29.41%.

In other news, Vice Chairman Richard A. Montoni sold 35,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $74.68, for a total value of $2,613,800.00. Following the completion of the sale, the insider now owns 377,874 shares of the company’s stock, valued at approximately $28,219,630.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Richard A. Montoni sold 12,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $74.07, for a total value of $888,840.00. Following the completion of the sale, the insider now directly owns 377,874 shares of the company’s stock, valued at approximately $27,989,127.18. The disclosure for this sale can be found here. In the last three months, insiders sold 48,000 shares of company stock valued at $3,575,540. 2.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 6 Meridian lifted its holdings in MAXIMUS by 2.3% during the 2nd quarter. 6 Meridian now owns 7,045 shares of the health services provider’s stock valued at $511,000 after purchasing an additional 157 shares during the last quarter. Signaturefd LLC lifted its holdings in MAXIMUS by 19.6% during the 2nd quarter. Signaturefd LLC now owns 1,145 shares of the health services provider’s stock valued at $83,000 after purchasing an additional 188 shares during the last quarter. Chatham Capital Group Inc. lifted its holdings in MAXIMUS by 0.7% during the 1st quarter. Chatham Capital Group Inc. now owns 32,850 shares of the health services provider’s stock valued at $2,332,000 after purchasing an additional 241 shares during the last quarter. Cambiar Investors LLC lifted its holdings in MAXIMUS by 0.4% during the 2nd quarter. Cambiar Investors LLC now owns 70,399 shares of the health services provider’s stock valued at $5,107,000 after purchasing an additional 256 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in MAXIMUS by 0.4% during the 2nd quarter. First Trust Advisors LP now owns 72,679 shares of the health services provider’s stock valued at $5,272,000 after purchasing an additional 273 shares during the last quarter. 94.53% of the stock is owned by institutional investors.

About MAXIMUS

MAXIMUS, Inc provides business process services (BPS) to government health and human services programs worldwide. The company's Health Services segment offers various BPS, appeals, and assessments for state, provincial, and national government programs, including Medicaid, Children's Health Insurance Program, Affordable Care Act, Health Insurance British Columbia, Health Assessment Advisory Service contract, and Preadmission Screening and Resident Reviews.

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