Maximus Stock Price, News & Analysis

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.

Maximus (NYSE: MMS) has declared a quarterly cash dividend of $0.28 per share, set to be paid on August 31, 2021. Shareholders of record as of August 13, 2021 will receive this dividend, reflecting the company's ongoing commitment to returning value to its investors. Maximus, founded in 1975, provides vital government services globally, focusing on enhancing government program outcomes and operational efficiency. With a workforce exceeding 34,000, the company serves multiple countries including the US, UK, and Australia.

Maximus (NYSE: MMS) clarifies confusion surrounding its identity, as some media outlets mistakenly report it as a privately-held Canadian agriculture technology firm. This error follows Ingersoll Rand's (NYSE: IR) announcement of an acquisition involving the Canadian company. Maximus has been delivering government services globally since 1975, focusing on enhancing citizen engagement with government agencies. It operates with over 34,000 employees across multiple countries, aiming to improve government program outcomes.

Maximus (NYSE: MMS) has completed its acquisition of Veterans Evaluation Services, Inc. (VES), enhancing its government services portfolio. This strategic move allows Maximus to expand its independent clinical assessments business at the Federal level, particularly with the U.S. Department of Veterans Affairs (VA). The acquisition, funded by $1.1 billion and $400 million term loans, is expected to contribute $160M to $175M in revenue over the next four months, although it may slightly dilute earnings per share initially. Long-term, the acquisition aims to bolster Maximus's position in health and disability assessments.

Maximus (NYSE: MMS) has partnered with CNSI to provide operation services for Medicaid Management Information System (MMIS) claims processing and management services. This collaboration, part of the National Association of State Procurement Officials (NASPO) cooperative contracts, aims to enhance operational effectiveness for state health programs. Maximus will assist with claims adjudication using CNSI’s evoBrix X™ platform and deliver call center services to Medicaid members and providers. The partnership highlights both organizations' commitment to improving service delivery within government programs.

Maximus (NYSE: MMS) reported a 17.3% revenue increase to $959.3 million for Q2 FY2021, driven largely by COVID-19 response initiatives. Operating income was $113 million with an 11.8% margin. The company raised its fiscal 2021 guidance, projecting revenues between $4.0 billion and $4.2 billion and EPS of $4.20 to $4.40, including contributions from recent acquisitions. The U.S. Services Segment experienced a 45% revenue boost, while the U.S. Federal Services Segment's revenue declined due to the Census contract. A quarterly dividend of $0.28 per share is scheduled for May 28, 2021.