DAVENPORT & Co LLC Grows Stake in Maximus, Inc. (NYSE:MMS)

DAVENPORT & Co LLC lifted its stake in shares of Maximus, Inc. (NYSE:MMS - Free Report) by 21.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 40,000 shares of the health services provider's stock after acquiring an additional 6,958 shares during the period. DAVENPORT & Co LLC owned approximately 0.07% of Maximus worth $2,969,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in Maximus in the 3rd quarter worth approximately $25,000. UMB Bank n.a. increased its position in Maximus by 79.8% during the 4th quarter. UMB Bank n.a. now owns 356 shares of the health services provider's stock valued at $27,000 after buying an additional 158 shares in the last quarter. Eastern Bank bought a new stake in shares of Maximus during the fourth quarter valued at approximately $29,000. R Squared Ltd purchased a new stake in shares of Maximus during the fourth quarter valued at $54,000. Finally, GAMMA Investing LLC lifted its position in Maximus by 150.6% during the third quarter. GAMMA Investing LLC now owns 862 shares of the health services provider's stock valued at $80,000 after purchasing an additional 518 shares during the period. Institutional investors own 97.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Raymond James upgraded Maximus from a "market perform" rating to an "outperform" rating and set a $90.00 price target for the company in a research note on Thursday, January 2nd. StockNews.com raised Maximus from a "hold" rating to a "buy" rating in a research note on Thursday.

Insider Buying and Selling at Maximus

In other Maximus news, insider Michelle F. Link sold 2,208 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $73.83, for a total transaction of $163,016.64. Following the completion of the transaction, the insider now owns 6,567 shares in the company, valued at $484,841.61. This trade represents a 25.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Raymond B. Ruddy bought 3,490 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $71.46 per share, for a total transaction of $249,395.40. Following the completion of the transaction, the director now directly owns 112,520 shares in the company, valued at approximately $8,040,679.20. This represents a 3.20 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 7,063 shares of company stock valued at $502,017 in the last 90 days. Insiders own 1.60% of the company's stock.

Maximus Price Performance

MMS stock traded down $0.14 during trading on Friday, reaching $69.86. The company's stock had a trading volume of 1,378,914 shares, compared to its average volume of 679,035. The company's fifty day moving average is $74.73 and its 200-day moving average is $83.32. Maximus, Inc. has a 1 year low of $68.30 and a 1 year high of $93.97. The company has a market capitalization of $3.99 billion, a P/E ratio of 15.02 and a beta of 0.72. The company has a quick ratio of 1.49, a current ratio of 1.72 and a debt-to-equity ratio of 0.82.

Maximus (NYSE:MMS - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The health services provider reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.22. Maximus had a return on equity of 21.95% and a net margin of 5.28%. On average, research analysts expect that Maximus, Inc. will post 6.05 earnings per share for the current fiscal year.

Maximus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Saturday, February 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Friday, February 14th. Maximus's payout ratio is currently 25.81%.

About Maximus

Maximus, Inc operates as a provider of government services in the United States and internationally. It operates through three segments: U.S. Federal Services, U.S. 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.