Zurcher Kantonalbank Zurich Cantonalbank Raises Position in MAXIMUS, Inc. (NYSE:MMS)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of MAXIMUS, Inc. (NYSE:MMS) by 13.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,094 shares of the health services provider’s stock after purchasing an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MAXIMUS were worth $297,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MMS. Geode Capital Management LLC grew its stake in MAXIMUS by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 976,831 shares of the health services provider’s stock valued at $63,581,000 after buying an additional 103,638 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of MAXIMUS by 4.4% during the 1st quarter. Wells Fargo & Company MN now owns 653,828 shares of the health services provider’s stock valued at $46,409,000 after purchasing an additional 27,504 shares in the last quarter. Rice Hall James & Associates LLC grew its position in shares of MAXIMUS by 2.5% during the 1st quarter. Rice Hall James & Associates LLC now owns 521,877 shares of the health services provider’s stock valued at $37,043,000 after purchasing an additional 12,855 shares in the last quarter. Boston Partners grew its position in shares of MAXIMUS by 2.5% during the 1st quarter. Boston Partners now owns 391,366 shares of the health services provider’s stock valued at $27,779,000 after purchasing an additional 9,603 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of MAXIMUS during the 1st quarter valued at $23,766,000. Institutional investors own 93.65% of the company’s stock.

In related news, Vice Chairman Richard A. Montoni sold 12,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $74.07, for a total transaction of $888,840.00. Following the transaction, the insider now owns 377,874 shares in the company, valued at $27,989,127.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Richard A. Montoni sold 35,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $74.68, for a total transaction of $2,613,800.00. Following the transaction, the insider now owns 377,874 shares in the company, valued at approximately $28,219,630.32. The disclosure for this sale can be found here. Insiders have sold 48,000 shares of company stock worth $3,575,540 in the last quarter. 2.20% of the stock is owned by corporate insiders.

Shares of MMS stock traded up $0.60 during mid-day trading on Tuesday, reaching $78.50. The stock had a trading volume of 5,025 shares, compared to its average volume of 321,290. The stock’s 50-day moving average price is $74.14 and its two-hundred day moving average price is $72.51. MAXIMUS, Inc. has a 52-week low of $60.00 and a 52-week high of $80.83. The firm has a market capitalization of $4.94 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 2.08 and a beta of 0.88.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, August 14th. MAXIMUS’s dividend payout ratio is currently 29.41%.

A number of analysts have recently issued reports on MMS shares. Zacks Investment Research raised shares of 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. Canaccord Genuity boosted their price objective on shares of MAXIMUS from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. Wells Fargo & Co restated a “market perform” rating and issued a $83.00 price objective on shares of MAXIMUS in a research report on Friday, August 9th. Finally, ValuEngine cut shares of MAXIMUS from a “buy” rating to a “hold” rating in a research report on Friday, June 28th.

MAXIMUS Profile

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.

Further Reading: The Discount Rate – What You Need to Know

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Institutional Ownership by Quarter for MAXIMUS (NYSE:MMS)

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