Maximus Stock Price, News & Analysis

Maximus (NYSE: MMS) has announced that its UK subsidiary secured two significant contracts to deliver the Restart program across various regions in the UK, valued at over $960 million USD (£690 million GBP) for four years. This program aims to provide tailored support for long-term unemployed individuals as part of the UK Government's Plan for Jobs. Maximus will invest over £10 million (USD 13 million) into community organizations to enhance services. The company plans to recruit over 1,500 people to support this initiative, solidifying its position as a key employment support provider.

Maximus (NYSE: MMS) announced its agreement to acquire Veterans Evaluation Services, Inc. (VES) for $1.4 billion. VES is a key provider of Medical Disability Examinations for the U.S. Federal Government, especially the Department of Veterans Affairs. This acquisition aligns with Maximus' strategy to increase revenue from clinical business process outsourcing. Expected to close in the third fiscal quarter, it will enhance Maximus' federal market expansion and is projected to generate $160 million to $175 million in revenue for fiscal 2021's last four months.

Maximus (NYSE: MMS) has announced a quarterly cash dividend of $0.28 per share, which will be payable on May 28, 2021, to shareholders on record as of May 14, 2021. The company, founded in 1975, is dedicated to helping government agencies serve citizens by delivering innovative business process management and technology solutions worldwide. Maximus operates in several countries including the US, Australia, Canada, and the UK, with over 34,000 employees committed to enhancing government service efficacy.

Maximus (NYSE: MMS) has appointed Teresa Weipert as the new U.S. Federal Services Segment General Manager, succeeding Thomas Romeo, who is retiring after nearly ten years. Weipert's leadership experience includes roles at IBM and Accenture, focusing on growth in federal and public markets. Under Romeo’s tenure, the segment grew from $80 million to over $1.6 billion in FY 2020, including the acquisition of Attain Federal. The transition aims to align with long-term strategic goals for market expansion and technology enhancement, focusing on digital solutions for federal clients.

On March 1, 2021, Attain, LLC announced a restructuring that separates its divisions into two companies. The federal business will remain under the name Attain, LLC and has been acquired by Maximus (NYSE: MMS). The education, nonprofit, healthcare, and local government division will operate as Attain Partners. This strategic move aims to enhance innovation and growth opportunities for both companies, with Attain Partners set to benefit from increased funding for strategic investments across its sectors.

Maximus (NYSE: MMS) has completed the acquisition of the Federal division of Attain, LLC for $430 million, enhancing its digital transformation strategy. Attain Federal brings advanced technology services like AI and machine learning to support U.S. Federal Government agencies. Expected to generate $120-$140 million in revenue in fiscal 2021, the acquisition aligns with Maximus' growth objectives in the federal market. While slightly dilutive in fiscal 2021 due to one-time expenses, it is projected to be accretive in fiscal 2022.

Maximus (NYSE: MMS) has announced its support for seven state vaccination programs by providing COVID-19 vaccine information and hotline services. The states involved include California, Colorado, New York, and the District of Columbia. The company aims to alleviate the high volume of vaccination requests and manage case backlogs. Maximus has deployed over 4,200 work-from-home agents since December 2020 to facilitate vaccine rollouts, utilizing cloud-based engagement capabilities to promote public confidence in vaccinations.

Maximus (NYSE: MMS) reported strong financial results for Q1 FY2021, with revenue increasing 15.6% to $945.6 million, up from $818.2 million a year earlier. The growth was driven by COVID-response initiatives, contributing approximately $160 million in revenue. Operating income was $87.6 million, reflecting a 9.3% margin. The company raised its fiscal 2021 guidance, expecting revenue between $3.400 billion and $3.525 billion and diluted EPS between $3.55 and $3.75. A quarterly dividend of $0.28 will be payable on February 26, 2021.

Maximus (NYSE: MMS) will release its financial results for the quarter ending December 31, 2020, on February 4, 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, founded in 1975, focuses on helping government agencies improve citizen engagement through innovative solutions.