Alta Capital Management Lowers stake in MAXIMUS (MMS)

MAXIMUS (MMS) : Alta Capital Management reduced its stake in MAXIMUS by 1.22% during the most recent quarter end. The investment management company now holds a total of 756,045 shares of MAXIMUS which is valued at $41,325,420 after selling 9,307 shares in MAXIMUS , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.MAXIMUS makes up approximately 2.61% of Alta Capital Management’s portfolio.

Other Hedge Funds, Including , Verus Financial Partners reduced its stake in MMS by selling 88 shares or 0.77% in the most recent quarter. The Hedge Fund company now holds 11,400 shares of MMS which is valued at $623,124. MAXIMUS makes up approx 0.28% of Verus Financial Partners’s portfolio.Legal General Group Plc reduced its stake in MMS by selling 5 shares or 0.03% in the most recent quarter. The Hedge Fund company now holds 15,981 shares of MMS which is valued at $880,713.Advisory Services Network boosted its stake in MMS in the latest quarter, The investment management firm added 276 additional shares and now holds a total of 1,196 shares of MAXIMUS which is valued at $65,302. MAXIMUS makes up approx 0.01% of Advisory Services Network’s portfolio.

MAXIMUS closed down -1.03 points or -1.83% at $55.11 with 3,28,540 shares getting traded on Tuesday. Post opening the session at $55.87, the shares hit an intraday low of $54.92 and an intraday high of $56.28 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, MAXIMUS reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.70. The company had revenue of $617.09 million for the quarter, compared to analysts expectations of $625.08 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.

Many Wall Street Analysts have commented on MAXIMUS. Company shares were Reiterated by Maxim Group on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 74 from a previous price target of $71 .

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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