Maximus, Inc. (NYSE:MMS) Sees Significant Drop in Short Interest

Maximus, Inc. (NYSE:MMS) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 1,010,000 shares, a drop of 25.2% from the June 15th total of 1,350,000 shares. Based on an average daily trading volume, of 306,800 shares, the days-to-cover ratio is presently 3.3 days. Approximately 1.7% of the company’s shares are short sold.

A number of equities analysts have issued reports on the company. Canaccord Genuity increased their target price on Maximus from $79.00 to $95.00 and gave the stock a “hold” rating in a report on Thursday, April 22nd. Raymond James cut Maximus from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $110.00 to $105.00 in a report on Monday, June 28th.

Shares of NYSE MMS opened at $87.69 on Thursday. The company has a market cap of $5.39 billion, a PE ratio of 20.02 and a beta of 0.81. The firm has a 50-day moving average of $89.94. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.57 and a quick ratio of 1.57. Maximus has a fifty-two week low of $64.30 and a fifty-two week high of $96.05.

Maximus (NYSE:MMS) last announced its quarterly earnings data on Thursday, May 6th. The health services provider reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.47. The company had revenue of $959.30 million during the quarter, compared to analysts’ expectations of $846.71 million. Maximus had a return on equity of 21.38% and a net margin of 7.31%. Maximus’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS. On average, sell-side analysts anticipate that Maximus will post 4.34 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 31st. Stockholders of record on Friday, August 13th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, August 12th. Maximus’s payout ratio is 33.04%.

In other Maximus news, Vice Chairman Richard A. Montoni sold 11,000 shares of the stock in a transaction dated Thursday, June 17th. The stock was sold at an average price of $90.34, for a total transaction of $993,740.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond B. Ruddy sold 10,180 shares of the stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $91.48, for a total value of $931,266.40. Following the transaction, the director now owns 128,467 shares of the company’s stock, valued at approximately $11,752,161.16. The disclosure for this sale can be found here. Insiders have sold a total of 58,000 shares of company stock worth $5,301,200 in the last ninety days. 1.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. ExodusPoint Capital Management LP bought a new position in Maximus during the fourth quarter worth about $1,076,000. Envestnet Asset Management Inc. grew its holdings in Maximus by 11.8% during the first quarter. Envestnet Asset Management Inc. now owns 86,560 shares of the health services provider’s stock worth $7,707,000 after purchasing an additional 9,131 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Maximus by 1.8% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 329,979 shares of the health services provider’s stock worth $23,949,000 after purchasing an additional 5,865 shares during the period. Chatham Capital Group Inc. grew its holdings in Maximus by 4.8% during the first quarter. Chatham Capital Group Inc. now owns 32,814 shares of the health services provider’s stock worth $2,922,000 after purchasing an additional 1,497 shares during the period. Finally, Glassman Wealth Services grew its holdings in Maximus by 250.9% during the first quarter. Glassman Wealth Services now owns 48,952 shares of the health services provider’s stock worth $4,359,000 after purchasing an additional 35,000 shares during the period. Institutional investors own 93.52% of the company’s stock.

About Maximus

Maximus, Inc provides business process services (BPS) to government health and human services programs worldwide. It operates through three segments: U.S. Services, U.S. Federal Services, and Outside the U.S. The U.S. Services segment offers various BPS solutions, such as program administration, appeals and assessments, and related consulting works for U.S.

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