HMS Holdings Corp (HMSY) Position Increased by Rhumbline Advisers
Rhumbline Advisers boosted its holdings in shares of HMS Holdings Corp (NASDAQ:HMSY) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 167,052 shares of the business services provider’s stock after purchasing an additional 3,870 shares during the quarter. Rhumbline Advisers owned about 0.20% of HMS worth $3,318,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of HMSY. Riverhead Capital Management LLC increased its stake in HMS by 80.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,592 shares of the business services provider’s stock worth $104,000 after acquiring an additional 2,492 shares during the last quarter. Koch Industries Inc. bought a new stake in HMS in the 2nd quarter worth approximately $197,000. Oppenheimer & Co. Inc. increased its stake in HMS by 1.9% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 10,867 shares of the business services provider’s stock worth $201,000 after acquiring an additional 200 shares during the last quarter. Pitcairn Co. bought a new stake in HMS in the 3rd quarter worth approximately $203,000. Finally, Amalgamated Bank increased its stake in HMS by 3.8% in the 2nd quarter. Amalgamated Bank now owns 11,574 shares of the business services provider’s stock worth $214,000 after acquiring an additional 419 shares during the last quarter. 96.27% of the stock is currently owned by institutional investors.
In related news, Chairman William C. Lucia sold 29,894 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $20.00, for a total transaction of $597,880.00. Following the completion of the transaction, the chairman now owns 222,745 shares in the company, valued at approximately $4,454,900. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by insiders.
HMS Holdings Corp (NASDAQ HMSY) opened at $16.39 on Friday. The company has a market capitalization of $1,415.97, a P/E ratio of 32.38, a PEG ratio of 2.80 and a beta of 0.87. HMS Holdings Corp has a 1-year low of $11.01 and a 1-year high of $20.90.
HMS (NASDAQ:HMSY) last posted its quarterly earnings data on Friday, November 3rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.03). HMS had a net margin of 4.94% and a return on equity of 7.93%. The business had revenue of $125.70 million for the quarter, compared to analysts’ expectations of $147.62 million. During the same quarter in the previous year, the firm earned $0.24 EPS. HMS’s revenue was up 2.3% compared to the same quarter last year. analysts expect that HMS Holdings Corp will post 0.55 earnings per share for the current year.
HMS declared that its board has initiated a share buyback plan on Friday, November 3rd that allows the company to buyback $50.00 million in shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
A number of research firms have issued reports on HMSY. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $20.00 price objective (down previously from $25.50) on shares of HMS in a research note on Wednesday, November 29th. BidaskClub upgraded HMS from a “sell” rating to a “hold” rating in a report on Wednesday. Cantor Fitzgerald reiterated a “hold” rating and issued a $16.00 target price on shares of HMS in a report on Sunday, November 19th. Canaccord Genuity dropped their target price on HMS from $22.00 to $17.00 and set a “buy” rating for the company in a report on Monday, November 6th. Finally, Jefferies Group reiterated a “neutral” rating on shares of HMS in a report on Sunday, November 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. HMS has an average rating of “Buy” and a consensus target price of $20.39.
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HMS Holdings Corp. is a holding company. The Company, through its subsidiaries, operates in the United States healthcare insurance benefit cost containment marketplace. It provides coordination of benefits services to government, and private healthcare payers and sponsors. Its payment integrity services ensure that healthcare claims billed are accurate and appropriate.
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