Alta Capital Management buys $45,683,861 stake in MAXIMUS (MMS)

MAXIMUS (MMS) : Alta Capital Management scooped up 23,194 additional shares in MAXIMUS during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 20, 2016. The investment management firm now holds a total of 765,352 shares of MAXIMUS which is valued at $45,683,861.MAXIMUS makes up approximately 2.73% of Alta Capital Management’s portfolio.

Other Hedge Funds, Including , Wealthtrust-arizona reduced its stake in MMS by selling 18 shares or 4.53% in the most recent quarter. The Hedge Fund company now holds 379 shares of MMS which is valued at $22,623. MAXIMUS makes up approx 0.01% of Wealthtrust-arizona’s portfolio.Eagle Asset Management Inc reduced its stake in MMS by selling 2,154 shares or 0.84% in the most recent quarter. The Hedge Fund company now holds 255,014 shares of MMS which is valued at $15,071,327. MAXIMUS makes up approx 0.10% of Eagle Asset Management Inc’s portfolio. Washington Trust Bank added MMS to its portfolio by purchasing 32 company shares during the most recent quarter which is valued at $1,852. Kistler-tiffany Companies added MMS to its portfolio by purchasing 10 company shares during the most recent quarter which is valued at $579.

MAXIMUS opened for trading at $58.33 and hit $59.21 on the upside on Wednesday, eventually ending the session at $59.1, with a gain of 2.02% or 1.17 points. The heightened volatility saw the trading volume jump to 1,68,107 shares. Company has a market cap of $3,835 M.

On the company’s financial health, MAXIMUS reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.62. The company had revenue of $606.50 million for the quarter, compared to analysts expectations of $600.99 million. The company’s revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

Investors should note that on Jul 12, 2016, MAXIMUS announced a cash dividend of $0.0450. The company’s management has announced Aug 11, 2016 as the ex-dividend date and fixed the record date on Aug 15, 2016. The payable date has been fixed on Aug 31, 2016.

Many Wall Street Analysts have commented on MAXIMUS. KeyBanc Capital Mkts Initiated MAXIMUS on Jul 11, 2016 to “Overweight”, Price Target of the shares are set at $63.

MAXIMUS Inc. provides business process services (BPS) to Government health and human services agencies. The Company is primarily focused on operating Government-sponsored programs such as Medicaid children’s health insurance program (CHIP) health insurance exchanges and other health care reform initiatives Medicare welfare-to-work child support services and other Government programs. It provides health and human services to Governments in the United States Australia Canada the United Kingdom and Saudi Arabia. The Company’s United States federal services business provides various contract vehicles. The Company’s Health Services segment provides a range of business process services as well as related consulting services for state provincial and federal Government programs. The Company’s Human Services segment provides federal national state and county human services agencies with a range of business process services as well as related consulting services.

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