Sio Capital Management LLC Makes New Investment in Maximus, Inc. (NYSE:MMS)

Sio Capital Management LLC bought a new stake in shares of Maximus, Inc. (NYSE:MMS) during the third quarter, HoldingsChannel reports. The firm bought 155,142 shares of the health services provider’s stock, valued at approximately $14,453,000. Maximus makes up approximately 5.7% of Sio Capital Management LLC’s holdings, making the stock its 3rd largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Maximus by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,977 shares of the health services provider’s stock valued at $98,904,000 after purchasing an additional 79,092 shares in the last quarter. Van Berkom & Associates Inc. increased its position in shares of 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 valued at $98,257,000 after acquiring an additional 8,811 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Maximus by 12.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 929,066 shares of the health services provider’s stock worth $86,552,000 after acquiring an additional 102,350 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Maximus by 277.0% in the 3rd 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. Finally, Allspring Global Investments Holdings LLC boosted its stake in Maximus by 1.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 705,400 shares of the health services provider’s stock valued at $65,715,000 after purchasing an additional 8,667 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Maximus Stock Performance

Shares of NYSE MMS opened at $72.50 on Friday. The firm’s 50-day moving average price is $87.17 and its 200-day moving average price is $87.75. Maximus, Inc. has a 52-week low of $71.75 and a 52-week high of $93.97. The company has a market cap of $4.37 billion, a PE ratio of 14.50 and a beta of 0.77. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.59.

Maximus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, November 30th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.66%. Maximus’s dividend payout ratio is presently 24.00%.

Insider Buying and Selling

In related news, insider Michelle F. Link sold 1,363 shares of the firm’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 transaction, the insider now directly owns 6,567 shares of the company’s stock, valued at approximately $607,841.52. This trade represents a 17.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Maximus from a “buy” rating to a “hold” rating in a research note on Thursday.

Maximus 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.