Nuveen LLC Acquires New Stake in Maximus, Inc. $MMS

Key Points

• Nuveen LLC purchased 272,564 shares of Maximus, Inc. for approximately $18.6 million, increasing its stake to about 0.48% of the company.
• Maximus reported $2.16 earnings per share for its most recent quarter, exceeding estimates by $0.77, while revenue was approximately $1.35 billion.
• The company declared a quarterly dividend of $0.30, providing an annualized yield of 1.4%, with an ex-dividend date of August 15th.

Nuveen LLC acquired a new position in Maximus, Inc. (NYSE:MMS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 272,564 shares of the health services provider's stock, valued at approximately $18,586,000. Nuveen LLC owned approximately 0.48% of Maximus at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. boosted its position in 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 in the last quarter. GAMMA Investing LLC boosted its position in 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 in the last quarter. NBC Securities Inc. boosted its position in Maximus by 114,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,150 shares of the health services provider's stock worth $78,000 after purchasing an additional 1,149 shares in the last quarter. Blue Trust Inc. boosted its position in 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 in the last quarter. Finally, LRI Investments LLC boosted its position in Maximus by 44.1% in the 4th quarter. LRI Investments LLC now owns 1,638 shares of the health services provider's stock worth $122,000 after purchasing an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.

Insider Activity

In related news, Director Gayathri Rajan sold 7,913 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.38, for a total value of $572,742.94. Following the completion of the transaction, the director directly owned 14,205 shares of the company's stock, valued at approximately $1,028,157.90. This represents a 35.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Maximus Price Performance

Shares of NYSE:MMS traded down $1.0940 during midday trading on Monday, reaching $85.9060. 457,306 shares of the company's stock traded hands, compared to its average volume of 651,893. Maximus, Inc. has a 1 year low of $63.77 and a 1 year high of $93.94. The company has a market cap of $4.84 billion, a P/E ratio of 15.82 and a beta of 0.60. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.27 and a current ratio of 2.27. The company has a fifty day simple moving average of $74.84 and a two-hundred day simple moving average of $71.16.

Maximus (NYSE:MMS - Get Free Report) last announced its earnings results on Thursday, August 7th. The health services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.77. Maximus had a return on equity of 24.44% and a net margin of 5.83%.The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm posted $1.74 EPS. The business's revenue was up 2.5% on a year-over-year basis. Maximus has set its FY 2025 guidance at 7.350-7.550 EPS. Equities analysts predict that Maximus, Inc. will post 6.15 EPS for the current fiscal year.

Maximus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, August 31st. Stockholders of record on Friday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. Maximus's dividend payout ratio (DPR) is 22.10%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Maximus from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $90.00.

Maximus 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.