Bank of America Corp DE Lowers Stock Holdings in Maximus, Inc. (NYSE:MMS)

Bank of America Corp DE trimmed its stake in shares of Maximus, Inc. (NYSE:MMS - Free Report) by 72.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 250,493 shares of the health services provider's stock after selling 644,354 shares during the period. Bank of America Corp DE owned approximately 0.44% of Maximus worth $18,699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Algert Global LLC raised its holdings in shares of Maximus by 12.1% during the fourth quarter. Algert Global LLC now owns 187,017 shares of the health services provider's stock valued at $13,961,000 after purchasing an additional 20,215 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of Maximus during the fourth quarter valued at approximately $1,718,000. AQR Capital Management LLC raised its holdings in shares of Maximus by 189.1% during the fourth quarter. AQR Capital Management LLC now owns 423,298 shares of the health services provider's stock valued at $31,599,000 after purchasing an additional 276,859 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Maximus by 13.2% during the fourth quarter. Northern Trust Corp now owns 815,133 shares of the health services provider's stock valued at $60,850,000 after purchasing an additional 94,858 shares during the last quarter. Finally, Aquatic Capital Management LLC raised its holdings in shares of Maximus by 128.8% during the fourth quarter. Aquatic Capital Management LLC now owns 15,328 shares of the health services provider's stock valued at $1,144,000 after purchasing an additional 8,628 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Maximus Stock Performance

MMS stock traded down $1.33 during midday trading on Friday, reaching $72.36. 456,402 shares of the company's stock traded hands, compared to its average volume of 561,243. Maximus, Inc. has a 52-week low of $63.77 and a 52-week high of $93.97. The stock has a market cap of $4.08 billion, a P/E ratio of 15.56 and a beta of 0.61. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.82. The stock's 50-day moving average is $69.29 and its 200 day moving average is $72.40.

Maximus (NYSE:MMS - Get Free Report) last announced its earnings results on Thursday, May 8th. The health services provider reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.64. Maximus had a net margin of 5.28% and a return on equity of 21.95%. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the prior year, the company earned $1.57 earnings per share. The firm's revenue was up 1.0% on a year-over-year basis. As a group, analysts anticipate that Maximus, Inc. will post 6.15 EPS for the current year.

Maximus Announces Dividend

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

Insider Buying and Selling at Maximus

In related news, Director Jan Madsen sold 2,439 shares of Maximus stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $67.71, for a total transaction of $165,144.69. Following the transaction, the director now owns 18,097 shares in the company, valued at approximately $1,225,347.87. The trade was a 11.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.