Exchange Traded Concepts LLC Takes $794,000 Position in Maximus, Inc. (NYSE:MMS)

Exchange Traded Concepts LLC bought a new stake in Maximus, Inc. (NYSE:MMS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,642 shares of the health services provider's stock, valued at approximately $794,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Maximus during the 4th quarter worth $71,443,000. SG Capital Management LLC acquired a new stake in shares of Maximus in the fourth quarter valued at about $30,285,000. Federated Hermes Inc. boosted its holdings in Maximus by 74.8% during 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 in the last quarter. Reinhart Partners LLC. grew its position in Maximus by 65.4% during the first quarter. Reinhart Partners LLC. now owns 911,511 shares of the health services provider's stock worth $62,156,000 after buying an additional 360,365 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Maximus during the fourth quarter worth about $22,661,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Maximus Price Performance

Maximus stock traded up $0.95 during trading hours on Tuesday, hitting $69.52. The stock had a trading volume of 332,644 shares, compared to its average volume of 570,454. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.84 and a quick ratio of 1.84. The stock's fifty day moving average is $70.58 and its two-hundred day moving average is $70.93. Maximus, Inc. has a 1-year low of $63.77 and a 1-year high of $93.97. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 13.82 and a beta of 0.62.

Maximus (NYSE:MMS - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The health services provider reported $2.01 earnings per share 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 during the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts predict that Maximus, Inc. will post 6.15 earnings per share for the current fiscal year.

Maximus Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, May 31st. Shareholders of record on Thursday, May 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Thursday, May 15th. Maximus's payout ratio is 23.86%.

Insider Buying and Selling

In other Maximus news, Director Gayathri Rajan sold 7,913 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.38, for a total transaction of $572,742.94. Following the completion of the sale, the director now directly owns 14,205 shares in the company, valued at $1,028,157.90. This represents a 35.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

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

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.