Maximus (NYSE:MMS) Shares Gap Up – Here’s What Happened

Maximus, Inc. (NYSE:MMS) shares gapped up before the market opened on Wednesday . The stock had previously closed at $72.89, but opened at $76.00. Maximus shares last traded at $75.14, with a volume of 91,134 shares changing hands.

Maximus Trading Down 0.3 %

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.49 and a quick ratio of 1.49. The stock’s 50-day moving average is $87.49 and its two-hundred day moving average is $87.86. The company has a market cap of $4.38 billion, a P/E ratio of 14.42 and a beta of 0.77.

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 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Friday, November 15th. Maximus’s dividend payout ratio is 24.00%.

Insider Buying and Selling at Maximus

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

Institutional Investors Weigh In On Maximus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in shares of Maximus by 277.0% in the third quarter. Assenagon Asset Management S.A. now owns 878,894 shares of the health services provider’s stock valued at $81,878,000 after acquiring an additional 645,760 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Maximus by 942.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 323,300 shares of the health services provider’s stock valued at $27,707,000 after purchasing an additional 292,300 shares during the period. Millennium Management LLC lifted its holdings in Maximus by 150.4% in the 2nd quarter. Millennium Management LLC now owns 406,075 shares of the health services provider’s stock worth $34,801,000 after purchasing an additional 243,890 shares in the last quarter. Sio Capital Management LLC bought a new position in Maximus in the 3rd quarter worth approximately $14,453,000. Finally, Algert Global LLC bought a new position in Maximus in the 2nd quarter worth approximately $12,424,000. Institutional investors own 97.21% of the company’s stock.

Maximus Company 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.