Maximus (NYSE:MMS – Get Free Report) posted its earnings results on Wednesday. The health services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.05), Briefing.com reports. Maximus had a net margin of 3.30% and a return on equity of 14.46%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business posted $1.40 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Maximus updated its FY24 guidance to $5.05-5.35 EPS.
Maximus Stock Performance
NYSE:MMS opened at $82.29 on Friday. The company has a fifty day simple moving average of $76.68 and a two-hundred day simple moving average of $80.48. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 31.29 and a beta of 0.73. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.70. Maximus has a 52 week low of $59.73 and a 52 week high of $89.69.
Maximus Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th will be paid a $0.30 dividend. This is an increase from Maximus’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.46%. Maximus’s payout ratio is 45.63%.
Analyst Ratings Changes
Insiders Place Their Bets
In other Maximus news, insider Teresa Weipert sold 1,444 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $74.68, for a total value of $107,837.92. Following the completion of the transaction, the insider now owns 5,493 shares in the company, valued at $410,217.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Teresa Weipert sold 1,444 shares of Maximus stock in a transaction on Friday, September 29th. The shares were sold at an average price of $74.68, for a total transaction of $107,837.92. Following the completion of the sale, the insider now directly owns 5,493 shares of the company’s stock, valued at approximately $410,217.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael J. Warren sold 1,880 shares of Maximus stock in a transaction on Friday, September 15th. The stock was sold at an average price of $79.84, for a total transaction of $150,099.20. Following the sale, the director now directly owns 2,010 shares of the company’s stock, valued at $160,478.40. The disclosure for this sale can be found here. Insiders sold a total of 28,259 shares of company stock worth $2,120,083 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.
Institutional Investors Weigh In On Maximus
Institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. purchased a new stake in shares of Maximus during the 1st quarter worth $35,000. Captrust Financial Advisors lifted its position in Maximus by 14.9% in the second quarter. Captrust Financial Advisors now owns 1,303 shares of the health services provider’s stock valued at $81,000 after acquiring an additional 169 shares during the last quarter. Covestor Ltd lifted its position in Maximus by 92.8% in the first quarter. Covestor Ltd now owns 1,604 shares of the health services provider’s stock valued at $120,000 after acquiring an additional 772 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Maximus in the fourth quarter valued at $123,000. Finally, Rockefeller Capital Management L.P. lifted its position in Maximus by 57.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,394 shares of the health services provider’s stock valued at $175,000 after acquiring an additional 878 shares during the last quarter. 99.30% of the stock is owned by hedge funds and other institutional investors.
Maximus, Inc provides business process services (BPS) to government health and human services programs. It operates through three segments: U.S. Services, U.S. Federal Services, and Outside the U.S. The U.S. Services segment offers program eligibility support and enrollment; centralized multilingual customer contact centers, multichannel, and digital self-service options for enrollment; application assistance and independent health plan choice counseling; beneficiary outreach, education, eligibility, enrollment, and redeterminations; and person-centered independent disability, long-term sick, and other health assessments.
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