Maximus, Inc. (MMS) Position Boosted by Convergence Investment Partners LLC
Convergence Investment Partners LLC increased its stake in Maximus, Inc. (NYSE:MMS) by 27.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,621 shares of the health services provider’s stock after acquiring an additional 6,990 shares during the quarter. Convergence Investment Partners LLC owned about 0.05% of Maximus worth $2,104,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. State of Tennessee Treasury Department lifted its stake in shares of Maximus by 50.0% in the second quarter. State of Tennessee Treasury Department now owns 60,000 shares of the health services provider’s stock worth $3,758,000 after acquiring an additional 20,000 shares during the period. Koch Industries Inc. acquired a new position in Maximus in the second quarter valued at approximately $629,000. Mutual of America Capital Management LLC lifted its stake in Maximus by 26.6% in the second quarter. Mutual of America Capital Management LLC now owns 108,053 shares of the health services provider’s stock valued at $6,767,000 after buying an additional 22,713 shares during the period. Virginia Retirement Systems ET AL lifted its stake in Maximus by 3.5% in the second quarter. Virginia Retirement Systems ET AL now owns 46,700 shares of the health services provider’s stock valued at $2,925,000 after buying an additional 1,600 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Maximus by 44.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 9,125 shares of the health services provider’s stock valued at $572,000 after buying an additional 2,812 shares during the period. 94.82% of the stock is currently owned by institutional investors.
In related news, Director Raymond B. Ruddy sold 25,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $62.68, for a total transaction of $1,567,000.00. Following the completion of the sale, the director now owns 227,552 shares in the company, valued at $14,262,959.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Bruce Caswell sold 8,000 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $63.28, for a total value of $506,240.00. Following the sale, the president now owns 35,904 shares of the company’s stock, valued at approximately $2,272,005.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,717 shares of company stock valued at $5,421,835. Corporate insiders own 3.10% of the company’s stock.
Several equities analysts have issued reports on the company. Zacks Investment Research lowered Maximus from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Canaccord Genuity dropped their price target on Maximus from $62.00 to $61.00 and set a “hold” rating on the stock in a research note on Friday, November 10th. Finally, Robert W. Baird reissued a “hold” rating and issued a $64.00 price target on shares of Maximus in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Maximus has an average rating of “Hold” and an average price target of $64.33.
Maximus, Inc. (MMS) traded down $0.41 during midday trading on Tuesday, hitting $68.77. The stock had a trading volume of 375,100 shares, compared to its average volume of 358,619. The company has a market capitalization of $4,506.15, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 2.60 and a beta of 1.35. Maximus, Inc. has a 52-week low of $51.74 and a 52-week high of $70.43.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th were issued a dividend of $0.045 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.18 annualized dividend and a dividend yield of 0.26%. Maximus’s dividend payout ratio is 5.66%.
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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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