Raymond James Financial Services Advisors Inc. Takes $469,000 Position in HMS Holdings Corp (HMSY)

Raymond James Financial Services Advisors Inc. bought a new position in shares of HMS Holdings Corp (NASDAQ:HMSY) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,613 shares of the business services provider’s stock, valued at approximately $469,000.

Several other hedge funds also recently made changes to their positions in HMSY. Aperio Group LLC increased its position in shares of HMS by 6.1% during the second quarter. Aperio Group LLC now owns 24,658 shares of the business services provider’s stock worth $456,000 after acquiring an additional 1,426 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of HMS by 2.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 19,730 shares of the business services provider’s stock worth $365,000 after acquiring an additional 390 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of HMS by 30.8% during the second quarter. Janney Montgomery Scott LLC now owns 28,441 shares of the business services provider’s stock worth $526,000 after acquiring an additional 6,694 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of HMS by 4.5% during the second quarter. Great West Life Assurance Co. Can now owns 122,272 shares of the business services provider’s stock worth $2,261,000 after acquiring an additional 5,236 shares in the last quarter. Finally, Texas Permanent School Fund increased its position in shares of HMS by 1.2% during the second quarter. Texas Permanent School Fund now owns 61,245 shares of the business services provider’s stock worth $1,133,000 after acquiring an additional 751 shares in the last quarter. Institutional investors own 95.93% of the company’s stock.

Shares of HMS Holdings Corp (NASDAQ HMSY) traded down $0.07 during midday trading on Friday, hitting $16.95. 376,319 shares of the stock were exchanged, compared to its average volume of 602,568. HMS Holdings Corp has a 1 year low of $11.01 and a 1 year high of $20.90. The firm has a market cap of $1,431.10, a P/E ratio of 58.45, a P/E/G ratio of 2.83 and a beta of 0.87.

HMS (NASDAQ:HMSY) last released its earnings results on Friday, November 3rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.03). The company had revenue of $125.70 million for the quarter, compared to analyst estimates of $147.62 million. HMS had a net margin of 4.94% and a return on equity of 7.93%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. analysts predict that HMS Holdings Corp will post 0.55 earnings per share for the current year.

HMS announced that its board has initiated a stock buyback program on Friday, November 3rd that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

A number of research firms recently weighed in on HMSY. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $23.00 target price on shares of HMS in a research report 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 cut their target price on shares of HMS from $22.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, November 6th. Wells Fargo & Co restated an “outperform” rating and set a $20.00 target price (down previously from $25.50) on shares of HMS in a research note on Wednesday, November 29th. Finally, Zacks Investment Research cut shares of HMS from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. HMS has an average rating of “Buy” and a consensus price target of $20.39.

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HMS Company Profile

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.

Institutional Ownership by Quarter for HMS (NASDAQ:HMSY)

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