Welcome to our dedicated page for Maximus news (Ticker: MMS), a resource for investors and traders seeking the latest updates and insights on Maximus stock.
Maximus, Inc. (NYSE: MMS) is frequently in the news as a strategic partner to government and a provider of tech-enabled government services. Company announcements focus on contracts with U.S. federal agencies, U.S. states, and selected international programs, as well as updates on financial performance, capital allocation, and technology capabilities. This news page aggregates those disclosures so readers can follow how Maximus’ government-focused business evolves over time.
News about Maximus often highlights new or renewed contracts and program awards. Recent examples include agreements to support state-based health insurance marketplaces, such as enrollment and premium billing services for the Massachusetts Health Connector, and a renewed contract with Pennsylvania’s Department of Human Services to administer the Pennsylvania Enrollment Assistance Program, including expanded support for Children’s Health Insurance Program recipients. Federal sector news has featured a Joint Cyber Command & Control Readiness contract with the U.S. Air Force, covering engineering analysis, software modification, maintenance, and enhancement of cyber command and control systems.
Investors and observers can also find earnings releases and financial updates here. Maximus regularly reports segment performance for U.S. Federal Services, U.S. Services, and Outside the U.S., along with commentary on clinical program volumes, technology initiatives, margins, and free cash flow. The company also issues announcements on dividends and stock purchase program authorizations, reflecting its capital deployment approach.
Technology and cybersecurity developments are another recurring theme. Maximus has reported achieving Cybersecurity Maturity Model Certification (CMMC) Level 2, underscoring its ability to meet U.S. Department of Defense cybersecurity standards. Other news covers digital solutions such as member portals, multichannel engagement tools, and AI-based training for contact center staff. For anyone tracking MMS news, this page offers a centralized view of contract wins, program milestones, financial results, and technology-related updates tied to the company’s role in public sector service delivery.
Maximus (NYSE: MMS) has been awarded a five-year, $263 million contract by the Pennsylvania Department of Human Services to provide enhanced application and enrollment services for long-term services and supports. This contract extends Maximus's role as an independent enrollment broker, which it has held since 2016. The company will assist eligible Pennsylvania residents in receiving home and community-based services, focusing on seniors and people with disabilities.
Key aspects of the contract include:
- Streamlining the Medicaid waiver application process
- Implementing digital solutions to improve service efficiency
- Providing choice counseling for plan and provider selection
- Supporting applicants with appeals and grievances processes
Maximus has previously reduced the application process from 90 to 26 days and maintains a 98% customer satisfaction score.
Maximus (NYSE: MMS) has been awarded a $20 million contract from the Office of Personnel Management (OPM) to serve as the Contact Center Services Provider for the new Postal Service Health Benefits Program. This program will provide health insurance to eligible Postal Service employees, annuitants, and their families starting in 2025.
Maximus will lead customer support efforts, answering calls and emails for OPM's enhanced customer service platform. The company will utilize its Total Experience Management (TXM) solution, including advanced telephony, customer relationship management, and call quality reporting tools. This new program will replace FEHB coverage for eligible groups and is part of Maximus' expertise in implementing and modernizing public-facing programs.
Maximus (NYSE: MMS) reported strong fiscal year 2024 third quarter results, with revenue increasing 10.6% to $1.31 billion. The company raised its FY24 guidance for the third consecutive time, with revenue expected to range between $5.25 billion and $5.35 billion. Diluted earnings per share were $1.46, while adjusted diluted EPS reached $1.74. All three segments contributed to organic growth of 11.2%, with the U.S. Federal Services Segment being the primary driver. The company's net debt to EBITDA ratio improved to 1.5 times. Maximus declared a quarterly cash dividend of $0.30 per share, payable on August 31, 2024. The company's strong performance was attributed to favorable tailwinds and efficient delivery at scale across its operations.
Maximus has released the fourth episode of their DE&I podcast, 'ERGs Unplugged,' featuring members of its Black Alliance Employee Resource Group (ERG). The episode highlights personal perspectives on the impact and importance of the ERG in fostering diversity, equity, and inclusion within the company. The discussion emphasizes Maximus' commitment to creating an inclusive workplace through active engagement and support of its ERGs. For further details on their DE&I initiatives, visit Maximus.com/DEI.
Maximus (NYSE: MMS) has announced that its Board of Directors has approved a quarterly cash dividend of $0.30 per share. This dividend will be payable on August 31, 2024, to shareholders who are on record as of August 15, 2024. Maximus is recognized as a leading provider of government services worldwide.
Maximus (NYSE: MMS) has announced that it will release its financial results for the three and nine months ending June 30, 2024, after market close on August 7, 2024. The company will host a conference call on August 8 at 9:00 a.m. ET to discuss the results. Shareholders can submit questions for management by emailing IR@maximus.com up to one hour prior to the call. The call will be accessible to the public via webcast or phone, and a recording will be available on the company's investor website.
Maximus has released the third episode of its DE&I podcast, ERGs Unplugged, focusing on the LGBTQIA+ community. In this episode, members of the PRISM Employee Resource Group (ERG), Avery Springe and Taran Neiderman, share their personal and professional experiences within the group. Avery discusses how involvement with PRISM enabled him to advocate for gender-neutral bathrooms across all states. Taran emphasizes the importance of support in being one's true self, which PRISM facilitated for them. This episode highlights Maximus' commitment to diversity, equity, and inclusion. Additional DE&I information is available on their website.
Maximus (NYSE: MMS) has been awarded an $87 million, five-year task order by the IRS to deliver comprehensive development and modernization services. This task order, part of the IRS's Enterprise Development, Operations Services (EDOS) contract, aims to enhance the financial management systems of the IRS. Maximus will support the IRS Internal Management Division, providing General Ledger support and aiding in compliance and enforcement programs. The task order builds on a longstanding partnership, including previous work on the IRS Master File system. Maximus will design, develop, and maintain various IT services, contributing to improved taxpayer services and accountability.
Maximus (NYSE:MMS), a global leader in government services, announced that its Board of Directors has authorized an expansion of the company's stock repurchase program, adding up to $200 million. This new authorization includes the remaining $6 million from the existing program. Maximus plans to buy back shares based on market conditions and corporate needs. The company has already repurchased 538,978 shares for approximately $44.5 million since March 31, 2024. CEO Bruce Caswell emphasized that this move aligns with the company's disciplined capital allocation strategy aimed at benefiting shareholders.
Maximus (NYSE: MMS) announced that the Maximus Foundation will issue over $2 million in grants to 209 nonprofit organizations nationwide. Each nonprofit will receive $10,000 to advance community development, youth programs, and healthcare services. The Foundation, established in 2000, has awarded over $15 million in total grants to date. Starting in 2025, the Foundation will shift from annual to multi-year, unrestricted grants, focusing initially on food insecurity and food equity. This strategic change aims to provide more stability and capacity for nonprofits.