New York State Common Retirement Fund decreased its holdings in shares of HMS Holdings Corp (NASDAQ:HMSY) by 12.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,000 shares of the business services provider’s stock after selling 12,811 shares during the quarter. New York State Common Retirement Fund owned 0.11% of HMS worth $1,768,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Riverhead Capital Management LLC increased its stake in shares of HMS by 80.4% in the second 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 period. Koch Industries Inc. acquired a new position in shares of HMS in the second quarter valued at approximately $197,000. Oppenheimer Co. Inc. increased its stake in shares of HMS by 1.9% in the second 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 period. Pitcairn Co. acquired a new position in shares of HMS in the third quarter valued at approximately $203,000. Finally, Amalgamated Bank increased its stake in shares of HMS by 3.8% in the second quarter. Amalgamated Bank now owns 11,574 shares of the business services provider’s stock valued at $214,000 after buying an additional 419 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised HMS from a “sell” rating to a “hold” rating in a research note on Friday, January 5th. Citigroup assumed coverage on HMS in a research note on Thursday, January 4th. They issued a “neutral” rating for the company. BidaskClub raised HMS from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Wells Fargo Co reaffirmed an “outperform” rating and issued a $20.00 price objective (down previously from $25.50) on shares of HMS in a research note on Wednesday, November 29th. Finally, Cantor Fitzgerald cut HMS from an “overweight” rating to a “neutral” rating in a report on Monday, November 20th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $20.39.
Shares of HMS Holdings Corp (HMSY) opened at $17.54 on Wednesday. HMS Holdings Corp has a twelve month low of $11.01 and a twelve month high of $20.90. The company has a market capitalization of $1,499.21, a P/E ratio of 60.48, a P/E/G ratio of 2.62 and a beta of 0.88.
HMS (NASDAQ:HMSY) last posted its quarterly earnings results on Friday, November 3rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). The business had revenue of $125.70 million for the quarter, compared to the consensus estimate of $147.62 million. HMS had a return on equity of 7.93% and a net margin of 4.94%. HMS’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. equities analysts expect that HMS Holdings Corp will post 0.55 EPS for the current fiscal year.
HMS declared that its board has initiated a share repurchase program on Friday, November 3rd that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board 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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