Stock Traders Purchase High Volume of Call Options on HMS (HMSY)
HMS Holdings Corp (NASDAQ:HMSY) was the recipient of some unusual options trading on Monday. Investors acquired 1,000 call options on the company. This represents an increase of 1,567% compared to the average volume of 60 call options.
HMSY has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $23.00 price target on shares of HMS in a research report on Tuesday, September 26th. Canaccord Genuity reiterated a “buy” rating and issued a $22.00 price target on shares of HMS in a research report on Monday, October 30th. Jefferies Group reiterated a “neutral” rating on shares of HMS in a research report on Sunday, November 5th. Zacks Investment Research lowered HMS from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Finally, Robert W. Baird reissued a “buy” rating and issued a $17.00 price objective on shares of HMS in a research note on Friday, November 10th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $20.39.
A number of large investors have recently added to or reduced their stakes in HMSY. Bank of New York Mellon Corp lifted its stake in HMS by 49.7% in the third quarter. Bank of New York Mellon Corp now owns 1,723,768 shares of the business services provider’s stock valued at $34,235,000 after buying an additional 572,442 shares during the period. Kornitzer Capital Management Inc. KS acquired a new position in HMS in the third quarter valued at about $8,673,000. Citadel Advisors LLC increased its holdings in shares of HMS by 274.2% in the second quarter. Citadel Advisors LLC now owns 370,454 shares of the business services provider’s stock worth $6,854,000 after acquiring an additional 271,448 shares in the last quarter. DnB Asset Management AS bought a new stake in shares of HMS in the fourth quarter worth about $3,875,000. Finally, Koch Industries Inc. bought a new stake in shares of HMS in the second quarter worth about $197,000. 95.93% of the stock is currently owned by hedge funds and other institutional investors.
HMS (NASDAQ:HMSY) last issued its quarterly earnings results on Friday, November 3rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $125.70 million for the quarter, compared to analyst estimates of $147.62 million. During the same period last year, the company earned $0.24 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. equities research analysts predict that HMS will post 0.55 earnings per share for the current fiscal year.
HMS declared that its board has authorized a stock repurchase plan on Friday, November 3rd that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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HMS Company Profile
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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