Summit Global Investments Makes New $710,000 Investment in Maximus, Inc. (NYSE:MMS)

Summit Global Investments purchased a new position in shares of Maximus, Inc. (NYSE:MMS) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 8,279 shares of the health services provider’s stock, valued at approximately $710,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MMS. Rise Advisors LLC raised its holdings in Maximus by 1,445.0% in the 1st quarter. Rise Advisors LLC now owns 309 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 289 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Maximus by 224.5% during the second quarter. GAMMA Investing LLC now owns 344 shares of the health services provider’s stock worth $29,000 after purchasing an additional 238 shares during the last quarter. Blue Trust Inc. raised its stake in Maximus by 201.5% during the second quarter. Blue Trust Inc. now owns 392 shares of the health services provider’s stock worth $33,000 after acquiring an additional 262 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Maximus in the fourth quarter valued at approximately $52,000. Finally, LRI Investments LLC acquired a new stake in shares of Maximus in the first quarter valued at approximately $93,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Maximus Price Performance

Shares of Maximus stock traded up $0.56 on Tuesday, hitting $89.69. The company had a trading volume of 608,324 shares, compared to its average volume of 351,283. The company has a market cap of $5.45 billion, a PE ratio of 23.26 and a beta of 0.75. Maximus, Inc. has a 52 week low of $72.39 and a 52 week high of $93.97. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.53 and a quick ratio of 1.53. The business has a 50-day simple moving average of $88.27 and a 200-day simple moving average of $84.94.

Maximus (NYSE:MMS) last released its earnings results on Wednesday, August 7th. The health services provider reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.27. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Maximus had a net margin of 4.58% and a return on equity of 18.02%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 EPS. Research analysts expect that Maximus, Inc. will post 5.79 EPS for the current fiscal year.

Maximus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, August 31st. Investors of record on Thursday, August 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 1.34%. Maximus’s dividend payout ratio (DPR) is presently 31.50%.

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.