Synovus Financial Corp Sells 1,408 Shares of Maximus, Inc. (NYSE:MMS)

Synovus Financial Corp trimmed its position in shares of Maximus, Inc. (NYSE:MMS) by 20.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,377 shares of the health services provider’s stock after selling 1,408 shares during the quarter. Synovus Financial Corp’s holdings in Maximus were worth $501,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Maximus by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,525,159 shares of the health services provider’s stock worth $142,109,000 after buying an additional 21,532 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Maximus by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,153,977 shares of the health services provider’s stock worth $98,904,000 after buying an additional 79,092 shares during the last quarter. Van Berkom & Associates Inc. grew its stake in Maximus by 0.8% during the second quarter. Van Berkom & Associates Inc. now owns 1,146,524 shares of the health services provider’s stock worth $98,257,000 after buying an additional 8,811 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Maximus by 12.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 929,066 shares of the health services provider’s stock worth $86,552,000 after buying an additional 102,350 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Maximus by 277.0% during the third quarter. Assenagon Asset Management S.A. now owns 878,894 shares of the health services provider’s stock worth $81,878,000 after buying an additional 645,760 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Insider Transactions at Maximus

In related news, Director Raymond B. Ruddy bought 3,490 shares of Maximus stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $71.46 per share, for a total transaction of $249,395.40. Following the completion of the transaction, the director now owns 112,520 shares of the company’s stock, valued at approximately $8,040,679.20. This trade represents a 3.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michelle F. Link sold 2,208 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $73.83, for a total transaction of $163,016.64. Following the completion of the transaction, the insider now owns 6,567 shares in the company, valued at $484,841.61. This represents a 25.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Maximus from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th.

Maximus Price Performance

Shares of MMS stock opened at $70.20 on Wednesday. Maximus, Inc. has a 1 year low of $69.72 and a 1 year high of $93.97. The firm’s 50 day moving average is $82.19 and its 200-day moving average is $86.52. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 14.04 and a beta of 0.73. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.59.

Maximus Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, November 30th. Stockholders of record on Friday, November 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.71%. Maximus’s payout ratio is 24.00%.

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.