Avantax Advisory Services Inc. Sells 15,775 Shares of Maximus, Inc. (NYSE:MMS)

Key Points

• Avantax Advisory Services Inc. has reduced its holdings in Maximus, Inc. by 82.6%, selling 15,775 shares and leaving it with 3,322 shares valued at approximately $227,000.
• Institutional investors own 97.21% of Maximus stock, with several firms recently adjusting their positions, including Advisors Preferred LLC acquiring a new stake valued at about $3.96 million.
• Maximus recently announced a quarterly dividend of $0.30, representing an annualized dividend yield of 1.5%, with the payout ratio standing at 23.86%.

Avantax Advisory Services Inc. lessened its position in shares of Maximus, Inc. (NYSE:MMS - Free Report) by 82.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,322 shares of the health services provider's stock after selling 15,775 shares during the period. Avantax Advisory Services Inc.'s holdings in Maximus were worth $227,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Advisors Preferred LLC acquired a new stake in shares of Maximus in the first quarter valued at approximately $3,958,000. Legato Capital Management LLC raised its position in shares of Maximus by 26.3% in the first quarter. Legato Capital Management LLC now owns 40,570 shares of the health services provider's stock valued at $2,766,000 after buying an additional 8,436 shares in the last quarter. KLP Kapitalforvaltning AS raised its position in shares of Maximus by 4.9% in the first quarter. KLP Kapitalforvaltning AS now owns 25,600 shares of the health services provider's stock valued at $1,746,000 after buying an additional 1,200 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Maximus in the first quarter valued at approximately $2,115,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Maximus in the first quarter valued at approximately $1,747,000. Institutional investors own 97.21% of the company's stock.

Insider Buying and Selling at Maximus

In other Maximus news, Director Gayathri Rajan sold 7,913 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.38, for a total value of $572,742.94. Following the completion of the sale, the director owned 14,205 shares in the company, valued at approximately $1,028,157.90. This trade represents a 35.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Maximus from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

Maximus Price Performance

Shares of NYSE MMS opened at $81.31 on Friday. The firm's 50-day moving average price is $71.73 and its 200-day moving average price is $70.45. Maximus, Inc. has a 1-year low of $63.77 and a 1-year high of $93.94. The firm has a market capitalization of $4.58 billion, a P/E ratio of 14.97 and a beta of 0.60. The company has a current ratio of 2.27, a quick ratio of 1.84 and a debt-to-equity ratio of 0.91.

Maximus (NYSE:MMS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The health services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.77. Maximus had a net margin of 5.83% and a return on equity of 24.44%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business earned $1.74 earnings per share. The business's quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Maximus, Inc. will post 6.15 earnings per share for the current fiscal year.

Maximus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, August 31st. Investors of record on Friday, August 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 15th. Maximus's dividend payout ratio is currently 23.86%.

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.

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