DnB Asset Management AS acquired a new position in shares of HMS Holdings Corp (NASDAQ:HMSY) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 228,601 shares of the business services provider’s stock, valued at approximately $3,875,000.
Several other large investors also recently modified their holdings of HMSY. Riverhead Capital Management LLC increased its stake in HMS by 80.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,592 shares of the business services provider’s stock valued at $104,000 after buying an additional 2,492 shares during the last quarter. Zions Bancorporation acquired a new stake in HMS in the 3rd quarter valued at $116,000. Koch Industries Inc. acquired a new stake in HMS in the 2nd quarter valued at $197,000. Oppenheimer & Co. Inc. increased its stake in HMS by 1.9% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 10,867 shares of the business services provider’s stock valued at $201,000 after buying an additional 200 shares during the last quarter. Finally, Pitcairn Co. acquired a new stake in HMS in the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 95.93% of the company’s stock.
Several brokerages have issued reports on HMSY. Cantor Fitzgerald reiterated a “buy” rating and issued a $23.00 price target on shares of HMS in a research note on Tuesday, September 26th. BidaskClub upgraded shares of HMS from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Canaccord Genuity lowered their price target on shares of HMS from $22.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, November 6th. Wells Fargo & Co reiterated an “outperform” rating and issued a $20.00 price target (down from $25.50) on shares of HMS in a research note on Wednesday, November 29th. Finally, Zacks Investment Research lowered shares of HMS from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. HMS presently has an average rating of “Buy” and an average target price of $20.39.
HMS Holdings Corp (NASDAQ:HMSY) opened at $17.83 on Friday. The firm has a market cap of $1,499.21, a PE ratio of 61.48, a PEG ratio of 2.62 and a beta of 0.88. HMS Holdings Corp has a 52 week low of $11.01 and a 52 week high of $20.90.
HMS (NASDAQ:HMSY) last released its quarterly earnings data on Friday, November 3rd. The business services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.03). The firm had revenue of $125.70 million for the quarter, compared to analyst estimates of $147.62 million. HMS had a return on equity of 7.93% and a net margin of 4.94%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share. equities research analysts forecast that HMS Holdings Corp will post 0.55 EPS for the current year.
HMS declared that its board has authorized a stock repurchase program on Friday, November 3rd that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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HMS Holdings Corp. is a holding company. The Company, through its subsidiaries, operates in the United States healthcare insurance benefit cost containment marketplace. It provides coordination of benefits services to government, and private healthcare payers and sponsors. Its payment integrity services ensure that healthcare claims billed are accurate and appropriate.
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