Bruce Caswell, CEO and President of MAXIMUS, Inc. (NYSE:MMS), recently purchased 3,500 shares of the company's common stock. The shares were acquired at a weighted average price of $70.64, with the total transaction amounting to approximately $247,240. According to InvestingPro analysis, this purchase comes as the stock trades near its 52-week low, with the company showing strong fundamentals including a perfect Piotroski Score of 9 and trading below its Fair Value. This purchase increases Caswell's direct ownership to 275,928.515 shares. The shares were bought in multiple transactions, with prices ranging from $70.15 to $70.95. The company maintains solid financial health with a P/E ratio of 14.06 and has maintained dividend payments for 20 consecutive years. For deeper insights into insider trading patterns and additional ProTips, check out the comprehensive research report available on InvestingPro.
In other recent news, Maximus (NYSE:MMS) has reported a significant increase in its stock repurchase program by $200 million, following the completion of the previous $200 million stock buyback authorization. This decision aligns with Maximus's strategic approach to stock repurchases and reflects their confidence in the company's future. In addition, Maximus reported a strong fiscal year 2024 performance, with an organic revenue increase of 8.8% and a record adjusted earnings per share of $6.11. Free cash flow also saw a substantial rise, reaching over $400 million.
Maximus has also seen notable changes in its auditing responsibilities, dismissing Ernst & Young LLP and appointing KPMG LLP for the fiscal year ending September 30, 2025. However, a contract with the U.S. Department of Health and Human Services for Contact Center Operations was cancelled, which was intended for services that Maximus is currently contracted to provide.
Despite these recent developments, Maximus is projecting 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. These updates are crucial for investors as they provide insight into Maximus's recent activities and future financial trajectory.
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