Bank of New York Mellon Corp Lowers Stock Position in Maximus, Inc. (NYSE:MMS)

Bank of New York Mellon Corp lessened its holdings in Maximus, Inc. (NYSE:MMS - Free Report) by 5.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 540,935 shares of the health services provider's stock after selling 29,805 shares during the period. Bank of New York Mellon Corp owned about 0.96% of Maximus worth $36,886,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Hillsdale Investment Management Inc. lifted its position in shares of Maximus by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 52,400 shares of the health services provider's stock worth $3,912,000 after purchasing an additional 230 shares during the period. UMB Bank n.a. lifted its position in shares of Maximus by 70.2% in the 1st quarter. UMB Bank n.a. now owns 606 shares of the health services provider's stock worth $41,000 after purchasing an additional 250 shares during the period. Bridge City Capital LLC lifted its position in shares of Maximus by 0.9% in the 4th quarter. Bridge City Capital LLC now owns 28,503 shares of the health services provider's stock worth $2,128,000 after purchasing an additional 254 shares during the period. GAMMA Investing LLC lifted its position in shares of Maximus by 67.1% in the 1st quarter. GAMMA Investing LLC now owns 732 shares of the health services provider's stock worth $50,000 after purchasing an additional 294 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Maximus by 32.8% in the 1st quarter. Blue Trust Inc. now owns 1,228 shares of the health services provider's stock worth $84,000 after purchasing an additional 303 shares during the period. Hedge funds and other institutional investors own 97.21% of the company's stock.

Maximus Stock Down 0.8%

NYSE:MMS traded down $0.58 during midday trading on Friday, reaching $70.76. 117,230 shares of the stock traded hands, compared to its average volume of 571,763. Maximus, Inc. has a 12-month low of $63.77 and a 12-month high of $93.97. The business has a 50-day moving average of $71.83 and a two-hundred day moving average of $70.88. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $3.99 billion, a PE ratio of 14.07 and a beta of 0.61.

Maximus (NYSE:MMS - Get Free Report) last posted 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 5.56% and a return on equity of 23.37%. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. Maximus's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts forecast that Maximus, Inc. will post 6.15 earnings per share for the current fiscal year.

Maximus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, August 31st. Shareholders of record on Friday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.70%. Maximus's payout ratio is 23.86%.

Insider Transactions at Maximus

In other Maximus news, Director Gayathri Rajan sold 7,913 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.38, for a total transaction of $572,742.94. Following the transaction, the director owned 14,205 shares in the company, valued at approximately $1,028,157.90. This represents a 35.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Maximus from a "buy" rating to a "hold" rating in a research 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.