Bank of America Corp DE Sells 644,354 Shares of Maximus, Inc. (NYSE:MMS)

Bank of America Corp DE lowered its position in shares of Maximus, Inc. (NYSE:MMS - Free Report) by 72.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 250,493 shares of the health services provider's stock after selling 644,354 shares during the quarter. Bank of America Corp DE owned about 0.44% of Maximus worth $18,699,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. raised its position in shares of Maximus by 79.8% in the 4th quarter. UMB Bank n.a. now owns 356 shares of the health services provider's stock worth $27,000 after purchasing an additional 158 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of Maximus by 65.9% in the 4th quarter. V Square Quantitative Management LLC now owns 453 shares of the health services provider's stock worth $34,000 after purchasing an additional 180 shares during the last quarter. R Squared Ltd purchased a new position in shares of Maximus in the 4th quarter worth about $54,000. IFP Advisors Inc raised its position in shares of Maximus by 62.4% in the 4th quarter. IFP Advisors Inc now owns 786 shares of the health services provider's stock worth $59,000 after purchasing an additional 302 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Maximus by 109.2% in the 4th quarter. Farther Finance Advisors LLC now owns 820 shares of the health services provider's stock worth $61,000 after purchasing an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Maximus news, Director Jan Madsen sold 2,439 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $67.71, for a total transaction of $165,144.69. Following the completion of the sale, the director now directly owns 18,097 shares in the company, valued at $1,225,347.87. The trade was a 11.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Maximus Stock Down 1.8%

Shares of MMS traded down $1.33 during trading hours on Monday, hitting $72.36. The company had a trading volume of 456,402 shares, compared to its average volume of 562,495. Maximus, Inc. has a 52-week low of $63.77 and a 52-week high of $93.97. The firm has a fifty day moving average price of $69.44 and a 200-day moving average price of $71.91. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 15.56 and a beta of 0.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.72 and a current ratio of 1.72.

Maximus (NYSE:MMS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The health services provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.37 by $0.64. Maximus had a return on equity of 21.95% and a net margin of 5.28%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $1.57 EPS. Maximus's revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that Maximus, Inc. will post 6.15 EPS for the current fiscal year.

Maximus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, May 31st. Investors of record on Thursday, May 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.20 annualized dividend and a yield of 1.66%. Maximus's payout ratio is 23.86%.

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.