The Providence Service (PRSC) Stock Rating Upgraded by BidaskClub

The Providence Service (NASDAQ:PRSC) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

The Providence Service stock opened at $67.81 on Friday. The Providence Service has a fifty-two week low of $52.58 and a fifty-two week high of $83.90. The stock has a market cap of $861.81 million, a P/E ratio of 38.67 and a beta of 0.63.

The Providence Service (NASDAQ:PRSC) last released its quarterly earnings results on Tuesday, August 7th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.08. The Providence Service had a net margin of 2.22% and a return on equity of 7.49%. The business had revenue of $411.79 million for the quarter.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sawgrass Asset Management LLC purchased a new position in The Providence Service in the second quarter valued at about $673,000. Principal Financial Group Inc. boosted its stake in The Providence Service by 2.7% in the first quarter. Principal Financial Group Inc. now owns 88,494 shares of the company’s stock valued at $6,118,000 after acquiring an additional 2,302 shares during the last quarter. ClariVest Asset Management LLC boosted its stake in The Providence Service by 177.5% in the second quarter. ClariVest Asset Management LLC now owns 13,288 shares of the company’s stock valued at $1,043,000 after acquiring an additional 8,500 shares during the last quarter. KBC Group NV boosted its stake in The Providence Service by 51.2% in the second quarter. KBC Group NV now owns 23,372 shares of the company’s stock valued at $1,836,000 after acquiring an additional 7,919 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new position in The Providence Service in the second quarter valued at about $3,454,000. Hedge funds and other institutional investors own 95.46% of the company’s stock.

The Providence Service Company Profile

The Providence Service Corporation, through its subsidiaries, provides healthcare and workforce development services in the United States and internationally. It operates in two segments, Non-Emergency Transportation Services (NET Services) and Workforce Development Services (WD Services). The NET Services segment offers non-emergency medical transportation services for Medicaid or Medicare eligible members, whose limited mobility or financial resources hinder their ability to access necessary healthcare and social services.

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