The Providence Service Co. (PRSC) Stake Lessened by State of Tennessee Treasury Department

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State of Tennessee Treasury Department trimmed its position in shares of The Providence Service Co. (NASDAQ:PRSC) by 9.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,174 shares of the company’s stock after selling 859 shares during the quarter. State of Tennessee Treasury Department owned 0.06% of The Providence Service worth $565,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers increased its stake in shares of The Providence Service by 13.9% during the fourth quarter. Rhumbline Advisers now owns 28,267 shares of the company’s stock worth $1,677,000 after acquiring an additional 3,459 shares during the period. Arizona State Retirement System increased its stake in shares of The Providence Service by 219.2% during the fourth quarter. Arizona State Retirement System now owns 18,785 shares of the company’s stock worth $1,115,000 after acquiring an additional 12,900 shares during the period. Pinebridge Investments L.P. increased its stake in shares of The Providence Service by 19.3% during the fourth quarter. Pinebridge Investments L.P. now owns 20,805 shares of the company’s stock worth $1,235,000 after acquiring an additional 3,370 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of The Providence Service by 25.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 40,418 shares of the company’s stock worth $2,398,000 after acquiring an additional 8,118 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of The Providence Service by 13.2% during the fourth quarter. Geode Capital Management LLC now owns 119,927 shares of the company’s stock worth $7,116,000 after acquiring an additional 13,993 shares during the period. Institutional investors and hedge funds own 92.07% of the company’s stock.

Shares of The Providence Service opened at $77.63 on Monday, according to Marketbeat.com. The Providence Service Co. has a twelve month low of $47.80 and a twelve month high of $79.59. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 40.22 and a beta of 0.65.

The Providence Service (NASDAQ:PRSC) last issued its earnings results on Wednesday, May 9th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.18. The Providence Service had a net margin of 3.13% and a return on equity of 8.39%. The company had revenue of $406.05 million for the quarter, compared to analyst estimates of $403.80 million. During the same period in the prior year, the business posted $0.35 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year.

In other The Providence Service news, Director Kristi Meints sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $68.57, for a total transaction of $685,700.00. Following the transaction, the director now directly owns 45,936 shares in the company, valued at $3,149,831.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Coliseum Capital Management, L sold 29,100 shares of the company’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $74.78, for a total transaction of $2,176,098.00. The disclosure for this sale can be found here. Insiders have sold 432,896 shares of company stock worth $31,962,534 over the last 90 days. 13.83% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of The Providence Service from a “hold” rating to a “buy” rating in a research note on Saturday, June 16th. ValuEngine lowered shares of The Providence Service from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $67.00.

The Providence Service Company Profile

The Providence Service Corporation, through its subsidiaries, provides healthcare and workforce development services in the United States and internationally. It operates in two segments, Non-Emergency Transportation Services (NET Services) and Workforce Development Services (WD Services). The NET Services segment offers non-emergency medical transportation services for Medicaid or Medicare eligible members, whose limited mobility or financial resources hinder their ability to access necessary healthcare and social services.

Institutional Ownership by Quarter for The Providence Service (NASDAQ:PRSC)

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