Maximus (NYSE:MMS) Stock Price Down 7% – Here’s What Happened

Maximus, Inc. (NYSE:MMS)’s share price fell 7% on Thursday . The stock traded as low as $81.76 and last traded at $81.78. 966,672 shares changed hands during mid-day trading, an increase of 168% from the average session volume of 360,138 shares. The stock had previously closed at $87.95.

Maximus Price Performance

The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.61. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 16.60 and a beta of 0.77. The company has a fifty day simple moving average of $89.02 and a two-hundred day simple moving average of $88.11.

Maximus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, November 30th. Shareholders of record on Friday, November 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.52%. The ex-dividend date is Friday, November 15th. Maximus’s dividend payout ratio (DPR) is 25.16%.

Insider Activity

In other news, insider Michelle F. Link sold 1,363 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $92.56, for a total value of $126,159.28. Following the sale, the insider now directly owns 6,567 shares in the company, valued at $607,841.52. This represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Maximus

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. lifted its position in Maximus by 2.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,479 shares of the health services provider’s stock worth $544,000 after buying an additional 149 shares during the period. Swiss National Bank lifted its position in Maximus by 0.5% during the first quarter. Swiss National Bank now owns 120,407 shares of the health services provider’s stock worth $10,102,000 after buying an additional 600 shares during the period. Sei Investments Co. raised its holdings in shares of Maximus by 3.8% in the 1st quarter. Sei Investments Co. now owns 33,413 shares of the health services provider’s stock worth $2,803,000 after purchasing an additional 1,215 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Maximus by 12.0% in the 1st quarter. Russell Investments Group Ltd. now owns 28,557 shares of the health services provider’s stock worth $2,396,000 after purchasing an additional 3,059 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Maximus by 4.8% in the 1st quarter. ProShare Advisors LLC now owns 13,914 shares of the health services provider’s stock worth $1,167,000 after purchasing an additional 640 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

About Maximus

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.