CI Investments Inc. cut its holdings in Maximus, Inc. (NYSE:MMS – Get Rating) by 15.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,440 shares of the health services provider's stock after selling 255 shares during the quarter. CI Investments Inc.'s holdings in Maximus were worth $108,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in MMS. Geode Capital Management LLC boosted its stake in Maximus by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,181,461 shares of the health services provider's stock worth $94,153,000 after purchasing an additional 18,561 shares in the last quarter. CX Institutional purchased a new stake in shares of Maximus during the first quarter valued at $243,000. Renaissance Technologies LLC raised its stake in Maximus by 30.8% in the 4th quarter. Renaissance Technologies LLC now owns 100,300 shares of the health services provider's stock worth $7,991,000 after acquiring an additional 23,600 shares during the last quarter. Natixis Advisors L.P. lifted its position in Maximus by 39.3% during the 1st quarter. Natixis Advisors L.P. now owns 45,737 shares of the health services provider's stock worth $3,428,000 after acquiring an additional 12,892 shares during the period. Finally, Millennium Management LLC grew its stake in Maximus by 1,132.0% during the 4th quarter. Millennium Management LLC now owns 419,689 shares of the health services provider's stock valued at $33,437,000 after purchasing an additional 385,622 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.
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Insider Transactions at Maximus
In related news, Director Raymond B. Ruddy purchased 17,341 shares of Maximus stock in a transaction that occurred on Tuesday, June 14th. The stock was bought at an average cost of $57.72 per share, for a total transaction of $1,000,922.52. Following the completion of the transaction, the director now owns 109,030 shares in the company, valued at $6,293,211.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Bruce Caswell purchased 8,300 shares of the stock in a transaction that occurred on Wednesday, June 15th. The shares were purchased at an average cost of $60.32 per share, with a total value of $500,656.00. Following the completion of the acquisition, the chief executive officer now owns 181,017 shares of the company's stock, valued at approximately $10,918,945.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond B. Ruddy acquired 17,341 shares of the business's stock in a transaction on Tuesday, June 14th. The stock was purchased at an average cost of $57.72 per share, with a total value of $1,000,922.52. Following the acquisition, the director now directly owns 109,030 shares of the company's stock, valued at approximately $6,293,211.60. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company's stock.
Maximus Stock Up 1.2 %
NYSE:MMS opened at $60.71 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.47 and a quick ratio of 1.47. The company's fifty day moving average price is $63.41 and its 200-day moving average price is $67.87. Maximus, Inc. has a 1-year low of $56.50 and a 1-year high of $88.13. The firm has a market capitalization of $3.73 billion, a P/E ratio of 20.30 and a beta of 0.72.
Maximus Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Monday, August 15th were issued a $0.28 dividend. The ex-dividend date was Friday, August 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.84%. Maximus's dividend payout ratio (DPR) is presently 37.46%.
Analysts Set New Price Targets
Separately, TheStreet downgraded Maximus from a "b-" rating to a "c+" rating in a report on Tuesday, May 31st.
About Maximus
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Maximus, Inc provides business process services (BPS) to government health and human services programs. It operates through three segments: U.S. Services, U.S. Federal Services, and Outside the U.S. The U.S. Services segment offers various BPS solutions, such as program administration, appeals and assessments, and related consulting works for U.S.
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