Charles Schwab Investment Management Inc. Decreases Stake in Maximus, Inc. (NYSE:MMS)

Charles Schwab Investment Management Inc. cut its holdings in Maximus, Inc. (NYSE:MMS) by 6.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 935,106 shares of the health services provider’s stock after selling 65,558 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.65% of Maximus worth $63,765,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MMS. Franklin Resources Inc. boosted its stake in shares of Maximus by 21.8% in the fourth quarter. Franklin Resources Inc. now owns 6,176 shares of the health services provider’s stock valued at $461,000 after buying an additional 1,104 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Maximus by 36.1% in the fourth quarter. Wells Fargo & Company MN now owns 34,148 shares of the health services provider’s stock valued at $2,549,000 after buying an additional 9,055 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Maximus by 5.4% in the fourth quarter. Bank of Montreal Can now owns 15,863 shares of the health services provider’s stock valued at $1,184,000 after buying an additional 812 shares in the last quarter. Invesco Ltd. boosted its position in Maximus by 19.6% during the fourth quarter. Invesco Ltd. now owns 250,594 shares of the health services provider’s stock worth $18,707,000 after purchasing an additional 41,019 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Maximus during the fourth quarter worth $1,169,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Maximus

In other news, Director Gayathri Rajan sold 7,913 shares of the business’s 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 $1,028,157.90. The trade was a 35.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Maximus from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th.

Maximus Stock Down 1.2%

MMS opened at $84.61 on Friday. The business’s fifty day moving average is $72.76 and its two-hundred day moving average is $70.68. 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 market cap of $4.77 billion, a price-to-earnings ratio of 15.58 and a beta of 0.60. Maximus, Inc. has a one year low of $63.77 and a one year high of $93.94.

Maximus (NYSE:MMS) last posted its earnings results on Thursday, August 7th. The health services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.77. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.29 billion. Maximus had a return on equity of 24.44% and a net margin of 5.83%. Maximus’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.74 earnings per share. Analysts anticipate that Maximus, Inc. will post 6.15 EPS for the current fiscal year.

Maximus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, August 31st. Stockholders of record on Friday, August 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 15th. Maximus’s payout ratio is 22.10%.

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.