The Providence Service Corporation (PRSC) Position Reduced by Fmr LLC

FMR LLC cut its position in The Providence Service Corporation (NASDAQ:PRSC) by 67.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 297,580 shares of the company’s stock after selling 619,959 shares during the period. FMR LLC owned about 2.20% of The Providence Service Corporation worth $13,224,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Arizona State Retirement System increased its position in shares of The Providence Service Corporation by 1.6% in the first quarter. Arizona State Retirement System now owns 6,385 shares of the company’s stock worth $284,000 after buying an additional 100 shares during the period. Thrivent Financial for Lutherans increased its position in shares of The Providence Service Corporation by 2.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,520 shares of the company’s stock worth $248,000 after buying an additional 180 shares during the period. Mason Street Advisors LLC increased its position in shares of The Providence Service Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,849 shares of the company’s stock worth $127,000 after buying an additional 187 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of The Providence Service Corporation by 11.4% in the first quarter. BNP Paribas Arbitrage SA now owns 2,256 shares of the company’s stock worth $100,000 after buying an additional 231 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in shares of The Providence Service Corporation by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 16,903 shares of the company’s stock worth $751,000 after buying an additional 1,048 shares during the period. 93.06% of the stock is currently owned by institutional investors.

Shares of The Providence Service Corporation (PRSC) traded up 1.91% during midday trading on Wednesday, hitting $51.33. The stock had a trading volume of 51,138 shares. The stock’s 50 day moving average price is $50.46 and its 200 day moving average price is $45.75. The firm has a market cap of $693.01 million, a price-to-earnings ratio of 10.68 and a beta of 0.95. The Providence Service Corporation has a 12 month low of $34.88 and a 12 month high of $54.99.

The Providence Service Corporation (NASDAQ:PRSC) last issued its earnings results on Tuesday, August 8th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.10. The company had revenue of $407.98 million for the quarter, compared to the consensus estimate of $392.71 million. The Providence Service Corporation had a return on equity of 6.94% and a net margin of 4.11%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. On average, equities analysts forecast that The Providence Service Corporation will post $1.39 EPS for the current fiscal year.

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A number of brokerages recently weighed in on PRSC. BidaskClub downgraded shares of The Providence Service Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine upgraded The Providence Service Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Barrington Research upped their price target on The Providence Service Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research cut The Providence Service Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $55.50.

About The Providence Service Corporation

The Providence Service Corporation (Providence) is a holding company. The Company, through its subsidiaries, is engaged in the provision of healthcare and workforce development services for public and private sector entities. The Company’s segments include Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Matrix Investment.

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

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