In recent transactions involving Maximus, Inc. (NYSE:MMS), a $4.51 billion market cap company with a perfect Piotroski Score of 9 according to InvestingPro, Director Warren Michael J. acquired shares valued at approximately $1,220. On November 29, 2024, Warren purchased 16.555 shares of the company's common stock at a price of $73.72 each. This acquisition was made through dividend reinvestment, leveraging Maximus's consistent 20-year dividend payment history and current 1.61% yield, increasing his direct ownership to 4,084.685 shares.
Additionally, Warren acquired 36.189 dividend equivalent rights, which are tied to previously awarded restricted stock units. These rights are equivalent to owning an equal number of Maximus common shares and will vest in proportion with the related RSUs. Following these transactions, Warren's total direct holdings in Maximus stand at 9,023.09 shares. For comprehensive analysis of Maximus's valuation and financial health metrics, access the detailed Pro Research Report available on InvestingPro.
In other recent news, Maximus Inc (NYSE:MMS). reported robust growth in fiscal year 2024, with an 8.8% increase in organic revenue and a record adjusted earnings per share of $6.11. The company's free cash flow also saw a substantial rise, reaching over $400 million, nearly double the previous year's figure. Looking ahead, Maximus projects fiscal 2025 revenue to be between $5.275 billion and $5.425 billion, with an adjusted EPS forecasted to be in the range of $5.70 to $6.00 per share.
In a significant development, Maximus appointed KPMG as its new auditor, following the dismissal of Ernst & Young. This change, approved by the company's Audit Committee, is set to take effect for the fiscal year ending September 30, 2025.
However, the company also faces a setback as its contract with the U.S. Department of Health and Human Services, Centers for Medicare and Medicaid Services (CMS) for Contact Center Operations was cancelled. This contract was intended for services that Maximus is currently contracted to provide, with option periods extending up to 2031. Despite these recent developments, Maximus maintains its focus on delivering efficient government services and continues to manage its growth trajectory.
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