Kornitzer Capital Management Inc. KS trimmed its holdings in HMS Holdings Corp (NASDAQ:HMSY) by 51.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 61,590 shares of the business services provider’s stock after selling 65,740 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in HMS were worth $2,123,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HMSY. Scout Investments Inc. increased its holdings in HMS by 64.1% in the 2nd quarter. Scout Investments Inc. now owns 225,021 shares of the business services provider’s stock worth $7,288,000 after buying an additional 87,864 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of HMS during the 2nd quarter valued at about $212,000. Louisiana State Employees Retirement System grew its stake in shares of HMS by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the business services provider’s stock valued at $1,086,000 after purchasing an additional 600 shares during the period. OLD National Bancorp IN bought a new stake in shares of HMS during the 2nd quarter valued at about $352,000. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of HMS by 4.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 33,997 shares of the business services provider’s stock valued at $1,101,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 96.50% of the company’s stock.
A number of equities research analysts have issued reports on the company. ValuEngine downgraded HMS from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded HMS from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research note on Tuesday, November 5th. Svb Leerink restated an “outperform” rating and set a $50.00 price target on shares of HMS in a research note on Monday, August 5th. Credit Suisse Group cut their price target on HMS from $45.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, Guggenheim downgraded HMS from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. HMS has an average rating of “Buy” and an average price target of $40.76.
Shares of HMS stock traded up $0.39 during trading hours on Friday, reaching $27.17. 590,200 shares of the stock traded hands, compared to its average volume of 580,870. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 2.31 and a beta of 1.16. HMS Holdings Corp has a one year low of $24.43 and a one year high of $40.67. The company has a 50 day moving average price of $33.14 and a 200 day moving average price of $33.52. The company has a quick ratio of 6.72, a current ratio of 6.68 and a debt-to-equity ratio of 0.31.
HMS (NASDAQ:HMSY) last issued its quarterly earnings data on Friday, November 1st. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The business had revenue of $146.82 million for the quarter, compared to analysts’ expectations of $165.79 million. HMS had a return on equity of 14.28% and a net margin of 16.69%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. Sell-side analysts anticipate that HMS Holdings Corp will post 1.06 earnings per share for the current year.
In other news, Director William F. Miller III sold 2,766 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $37.11, for a total transaction of $102,646.26. Following the sale, the director now directly owns 67,542 shares of the company’s stock, valued at approximately $2,506,483.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Scott Sherman sold 35,896 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $38.83, for a total value of $1,393,841.68. Following the sale, the chief financial officer now directly owns 213,661 shares in the company, valued at $8,296,456.63. The disclosure for this sale can be found here. Insiders have sold a total of 220,656 shares of company stock worth $8,376,626 over the last ninety days. Insiders own 2.87% of the company’s stock.
HMS Company Profile
HMS Holdings Corp., through its subsidiaries, provides cost containment solutions in the United States healthcare marketplace. The company offers coordination of benefits services to government and commercial healthcare payers to ensure that the correct party pays the claim; and population management solutions that provide risk-bearing organizations with intelligence across their member populations to identify risks, and enhance patient engagement and outcomes, as well as payment integrity, care management and consumer engagement, and analytical solutions.
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