Maximus Stock Price, News & Analysis

Maximus (NYSE: MMS) will release its financial results for the third quarter and fiscal year ending September 30, 2021, on November 18, 2021, at 6:30 a.m. ET. A conference call will follow at 9:00 a.m. ET, which will be open to the public via webcast and phone. The company, with a workforce of over 34,000, focuses on enhancing government services across multiple countries, including the US, Canada, Australia, and the UK. For further details, interested parties can access information through the investor relations website.

Maximus has secured a $323 million contract with the Securities and Exchange Commission (SEC), expanding its support for the EDGAR system. This 10-year contract involves enhancing IT infrastructure, digital transformation, agile software development, and cybersecurity services. As the incumbent through the acquisition of Attain, Maximus will maintain comprehensive EDGAR application operations and filer support. This contract underscores Maximus's role in helping agencies achieve critical IT modernization goals.

Maximus (NYSE:MMS) has officially received approval from the U.S. Department of Education to transfer the servicing of 5.6 million student loan accounts from Navient. The transition, set for year-end, will see these accounts moved to Maximus's servicing arm, Aidvantage. Approximately 800 former Navient employees will join Maximus to facilitate this process. The deal emphasizes Maximus's commitment to enhancing borrower experience and fulfilling Federal Student Aid's mission.

Maximus (NYSE: MMS) has announced a quarterly cash dividend of $0.28 per share, scheduled for payment on November 30, 2021. Shareholders of record by November 15, 2021 will receive this dividend. Established in 1975, Maximus provides essential government services globally, with around 34,000 employees. Their mission focuses on enhancing government engagement with citizens across various health and human services programs.

Navient (Nasdaq:NAVI) and Maximus (NYSE:MMS) have signed a definitive agreement to transfer U.S. Department of Education-owned student loan servicing from Navient to Maximus, pending approval from the Department. This transition aims to maintain service quality for borrowers. Once finalized, Navient will exit the loan servicing program as planned, with many employees transferring to Maximus to ensure continuity. The contract novation aims for completion starting October 1, 2021, enhancing Maximus's capabilities in federal student loan servicing.

Peter B. Pond has announced his retirement from the Maximus Board of Directors, where he has served since 1997 and as Chair since 2001. The Board has appointed John J. Haley as the new Chair and Anne K. Altman as Vice Chair. Pond's leadership was pivotal in Maximus's expansion into nine countries and growth to over 34,000 employees. His legacy includes a focus on diversity, equity, and governance. The current board comprises eight directors, with significant representation of women and people of color. Maximus continues to enhance government services.

Maximus (NYSE: MMS) reported record revenue of $1.24 billion for Q3 FY2021, a 38% increase year-over-year, fueled by COVID-19 response initiatives. The operating income margin improved to 11.2%, with diluted EPS at $1.51. The company raised its FY2021 revenue forecast to $4.2-$4.25 billion and EPS to $4.65-$4.75 due to strong performance. Notably, COVID-19 related services contributed approximately $460 million for Q3. A quarterly dividend of $0.28 per share was declared, payable August 31, 2021.

Maximus (NYSE: MMS) has secured two contracts totaling $151 million from the IRS, reinforcing a partnership that dates back to 1991. The first contract, valued at $76 million, will enhance Masterfile System Programming Support Services, including the implementation of the American Recovery Plan. The second $75 million contract focuses on Technology Integration Office support, including a pivotal shift to cloud infrastructure. This collaboration aims to support over 160 million individual taxpayers and improve IRS technology.

Maximus (NYSE: MMS) will release its financial results for the three and nine months ended June 30, 2021, on August 5, 2021, at 6:30 a.m. ET. A conference call will follow at 9:00 a.m. ET, accessible via webcast or by phone. Maximus, since 1975, has focused on Helping Government Serve the People® through business process management solutions for government agencies worldwide. The company employs over 34,000 individuals across various countries.