New York State Teachers Retirement System Trims Stock Position in Maximus, Inc. (NYSE:MMS)

New York State Teachers Retirement System reduced its position in shares of Maximus, Inc. (NYSE:MMS - Free Report) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,468 shares of the health services provider's stock after selling 10,689 shares during the period. New York State Teachers Retirement System owned about 0.13% of Maximus worth $4,942,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Maximus in the fourth quarter valued at $71,443,000. SG Capital Management LLC purchased a new stake in Maximus in the fourth quarter valued at $30,285,000. Federated Hermes Inc. lifted its position in Maximus by 74.8% in the fourth quarter. Federated Hermes Inc. now owns 882,953 shares of the health services provider's stock valued at $65,912,000 after acquiring an additional 377,705 shares during the last quarter. Reinhart Partners LLC. raised its holdings in shares of Maximus by 65.4% in the first 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 during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Maximus in the fourth quarter valued at about $22,661,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Maximus Stock Performance

Shares of NYSE:MMS traded down $0.77 on Monday, reaching $71.29. The company's stock had a trading volume of 304,075 shares, compared to its average volume of 572,564. The stock's 50-day moving average is $71.18 and its two-hundred day moving average is $70.95. Maximus, Inc. has a 52-week low of $63.77 and a 52-week high of $93.97. 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 has a market capitalization of $4.02 billion, a P/E ratio of 14.17 and a beta of 0.61.

Maximus (NYSE:MMS - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The health services provider reported $2.01 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the business posted $1.57 earnings per share. The business's revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Maximus, Inc. will post 6.15 EPS for the current year.

Maximus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, August 31st. Shareholders of record on Friday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.68%. Maximus's payout ratio is currently 23.86%.

Insiders Place Their Bets

In other Maximus news, Director Gayathri Rajan sold 7,913 shares of the company's stock in a transaction dated 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 directly owned 14,205 shares in the company, valued at approximately $1,028,157.90. This represents a 35.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company's stock.

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.