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Fuller & Thaler Asset Management, Inc., a California corporation, reports beneficial ownership of common stock of MAXIMUS, INC.. The firm holds 2,702,709.97 shares, representing 5.14% of the common stock outstanding. Fuller & Thaler has sole voting power over 2,655,263.97 shares and sole dispositive power over 2,702,709.97 shares, with no shared voting or dispositive power reported.
FMR LLC and Abigail P. Johnson report updated passive ownership in MAXIMUS INC common stock on an amended Schedule 13G. As of June 30, 2026, they beneficially owned 5,544,431.76 shares, representing 10.6% of the common stock. FMR LLC holds sole voting power over 4,624,665.54 shares and sole dispositive power over 5,544,431.76 shares, with no shared voting or dispositive power reported. One or more other persons have rights to receive dividends or sale proceeds from these shares, but no such person holds more than five percent of the class. The filing identifies relevant subsidiaries in an attached Exhibit 99 and is signed under powers of attorney on behalf of FMR LLC and Abigail P. Johnson.
Maximus, Inc. reported fiscal 2026 third quarter revenue of $1.28 billion, compared with $1.35 billion a year earlier, in line with internal expectations. Operating margin was 12.6% and adjusted EBITDA margin 15.0%. Net income was $103.6 million, with diluted EPS of $1.95 and adjusted diluted EPS of $2.22, both modestly higher than the prior-year period.
U.S. Federal Services generated $721 million of revenue with an operating margin of 18.6%; guidance for this segment’s full‑year margin is now 16.5%–17.0% after a temporary contractual modification effective July 1 through December 31, 2026. U.S. Services revenue was $418 million with a 10.8% margin, and Outside the U.S. revenue was $140 million with a 0.9% margin, with management still targeting breakeven for the year.
Year‑to‑date signed awards totaled $1.25 billion, with $1.35 billion pending and a total sales pipeline of $50.4 billion. At June 30, 2026, gross debt was $1.65 billion and net leverage 2.0x. Operating cash flow in the quarter was an outflow of $125 million and free cash flow an outflow of $137 million, with DSO at 98 days but improved collections in July. The company repurchased 0.75 million shares for $50.4 million and declared a quarterly dividend of $0.33 per share. Fiscal 2026 guidance calls for revenue of $5.2–$5.35 billion, adjusted EBITDA margin of about 13.7%, adjusted diluted EPS of $7.90–$8.20, and free cash flow of $425–$475 million, with interest expense estimated at $88 million and a tax rate of 24.0%–24.5%.
Maximus, Inc. entered into a Second Amendment to its Amended and Restated Credit Agreement with JPMorgan Chase Bank and other lenders, adding new term B loans in an aggregate principal amount of $325,000,000 called Tranche B-1 Term Loans. These loans share the same terms as the existing term B loans under the Credit Agreement. The company plans to use the proceeds to repay revolving loans outstanding under the Credit Agreement, repurchase its capital stock, fund working capital, and pay fees and expenses related to the amendment.
Maximus, Inc. reported slightly lower revenue but stronger profitability for the quarter ended March 31, 2026. Quarterly revenue was $1.31 billion, down from $1.36 billion a year ago, while net income edged up to $98.1 million and diluted EPS rose to $1.80 from $1.69.
For the first six months, revenue declined 4.1% to $2.65 billion, but net income increased to $192.0 million from $137.8 million as gross margin improved to 24.9% and operating margin to 11.1%. Adjusted EBITDA for the six months reached $358.4 million, reflecting lower cost of revenue, divestiture gains, and a capitalized software impairment charge of $6.9 million.
The U.S. Federal Services segment expanded operating margin to 17.0% despite modest revenue declines, while U.S. Services and Outside the U.S. saw revenue and margin pressure, with the international segment posting an operating loss. Operating cash flow was negative $54.9 million, driven partly by delayed collections on a large U.S. federal contract, and days sales outstanding increased. Maximus repurchased about 1.8 million shares for $142.0 million, ended with a Consolidated Net Total Leverage Ratio of 1.75x, and the board declared a quarterly dividend of $0.33 per share.
Maximus reported fiscal Q2 2026 results and raised full-year earnings guidance while authorizing a large new share repurchase program. Revenue was $1.31 billion versus $1.36 billion a year earlier, but profitability improved, with diluted EPS of $1.80 and adjusted diluted EPS of $2.07 compared to $1.69 and $2.01.
Adjusted EBITDA margin rose to 14.4%, supported by efficiency gains and AI-enabled automation. The company now expects full-year adjusted EBITDA margin of about 14.2% and adjusted EPS between $8.25 and $8.55, while keeping revenue guidance at $5.2–$5.35 billion and free cash flow at $450–$500 million.
The Board refreshed the share repurchase authorization up to $400 million after buying 2.0 million shares for roughly $151 million through May 1, 2026, and declared a quarterly dividend of $0.33 per share payable June 1, 2026.
Maximus Inc Schedule 13G shows Vanguard Capital Management beneficially owns 2,857,086 shares of Common Stock, representing 5.23% of the class. The filing states Vanguard has sole voting power over 419,450 shares and sole dispositive power over 2,857,086 shares. The Schedule 13G lists affiliated Vanguard entities in its explanatory comment and is signed on 04/30/2026.
Maximus Inc reported that Vanguard Portfolio Management beneficially owned 3,523,165 shares of Common Stock, representing 6.45% of the class as of 03/31/2026. The filing states Vanguard exercises sole dispositive power over those shares and discloses that ownership is held on behalf of multiple Vanguard-managed accounts and funds.
MAXIMUS, INC. reported initial insider holdings for General Counsel and Corporate Secretary Elizabeth Moellering. She directly holds 5,044.166 shares of common stock. Footnotes describe prior equity awards of restricted stock units that vest over multiple years, each representing the right to receive one share of common stock.
Moellering was granted 1,232 RSUs on April 1, 2024, 1,361 RSUs on November 25, 2024, and 2,850 RSUs on November 24, 2025, each vesting ratably over four years on specified September 30 vesting dates. Dividend equivalent rights accrue on these RSUs when dividends are paid on the common stock.