Envestnet Asset Management Inc. Boosts Holdings in Maximus, Inc. (NYSE:MMS)

Envestnet Asset Management Inc. lifted its position in Maximus, Inc. (NYSE:MMS - Free Report) by 16.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,387 shares of the health services provider's stock after buying an additional 3,707 shares during the period. Envestnet Asset Management Inc.'s holdings in Maximus were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Maximus during the fourth quarter valued at $71,443,000. SG Capital Management LLC purchased a new stake in Maximus in the fourth quarter worth about $30,285,000. Federated Hermes Inc. raised its stake in shares of Maximus by 74.8% in the fourth quarter. Federated Hermes Inc. now owns 882,953 shares of the health services provider's stock worth $65,912,000 after buying an additional 377,705 shares during the period. Reinhart Partners LLC. lifted its position in shares of Maximus by 65.4% during the 1st quarter. Reinhart Partners LLC. now owns 911,511 shares of the health services provider's stock valued at $62,156,000 after buying an additional 360,365 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Maximus during the 4th quarter valued at approximately $22,661,000. Hedge funds and other institutional investors own 97.21% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Maximus

In other news, Director Gayathri Rajan sold 7,913 shares of Maximus stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.38, for a total value of $572,742.94. Following the sale, the director directly owned 14,205 shares of the company's stock, valued at approximately $1,028,157.90. The trade was a 35.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

Maximus Price Performance

MMS stock traded down $1.02 during trading on Friday, reaching $72.84. The company's stock had a trading volume of 509,770 shares, compared to its average volume of 422,065. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.87. The company's fifty day moving average is $71.31 and its 200-day moving average is $70.50. The company has a market capitalization of $4.10 billion, a P/E ratio of 14.48 and a beta of 0.60. Maximus, Inc. has a 1 year low of $63.77 and a 1 year high of $93.94.

Maximus (NYSE:MMS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The health services provider reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.64. Maximus had a return on equity of 23.37% and a net margin of 5.56%. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the previous year, the firm earned $1.57 EPS. The firm's revenue was up 1.0% compared to the same quarter last year. On average, research analysts expect that Maximus, Inc. will post 6.15 earnings per share for the current fiscal year.

Maximus Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, August 31st. Shareholders of record on Friday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 15th. Maximus's dividend 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.