Verdence Capital Advisors LLC Makes New $361,000 Investment in Maximus, Inc. (NYSE:MMS)

Verdence Capital Advisors LLC purchased a new stake in shares of Maximus, Inc. (NYSE:MMS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,840 shares of the health services provider's stock, valued at approximately $361,000.

A number of other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Maximus by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,525,159 shares of the health services provider's stock worth $142,109,000 after acquiring an additional 21,532 shares during the period. Van Berkom & Associates Inc. lifted its stake in shares of Maximus by 8.5% in the fourth quarter. Van Berkom & Associates Inc. now owns 1,256,418 shares of the health services provider's stock worth $93,792,000 after acquiring an additional 98,264 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Maximus by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,000,664 shares of the health services provider's stock worth $74,700,000 after acquiring an additional 71,598 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Maximus by 2.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 722,172 shares of the health services provider's stock worth $54,748,000 after acquiring an additional 16,772 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Maximus by 8.2% in the fourth quarter. Bank of New York Mellon Corp now owns 570,740 shares of the health services provider's stock worth $42,606,000 after acquiring an additional 43,421 shares during the period. 97.21% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Activity

In other news, CEO Bruce Caswell acquired 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average price of $70.64 per share, with a total value of $247,240.00. Following the acquisition, the chief executive officer now owns 275,929 shares in the company, valued at $19,491,624.56. The trade was a 1.28 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Raymond B. Ruddy acquired 3,490 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $71.46 per share, with a total value of $249,395.40. Following the acquisition, the director now owns 112,520 shares in the company, valued at $8,040,679.20. The trade was a 3.20 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 7,008 shares of company stock valued at $497,835 in the last ninety days. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MMS. Raymond James raised Maximus from a "market perform" rating to an "outperform" rating and set a $90.00 price objective on the stock in a research note on Thursday, January 2nd. StockNews.com downgraded Maximus from a "buy" rating to a "hold" rating in a report on Friday, February 14th.

Maximus Stock Up 4.8 %

NYSE MMS traded up $3.25 on Friday, reaching $71.26. The company had a trading volume of 871,938 shares, compared to its average volume of 477,070. The stock has a market capitalization of $4.03 billion, a P/E ratio of 15.33 and a beta of 0.71. The company's fifty day moving average is $72.77 and its 200 day moving average is $80.22. Maximus, Inc. has a 52-week low of $63.77 and a 52-week high of $93.97. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.82.

Maximus (NYSE:MMS - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The health services provider reported $1.61 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Maximus, Inc. will post 6.15 earnings per share for the current fiscal year.

Maximus Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Saturday, February 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, February 14th. Maximus's dividend payout ratio is presently 25.81%.

Maximus Company Profile

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.