Maximus director Gayathri Rajan buys $5,395 in stock
Gayathri Rajan, a director at Maximus, Inc. (NYSE:MMS), a $4.5 billion market cap company trading at an attractive P/E ratio of 14.8, recently acquired shares in the company. According to InvestingPro data, Maximus has maintained dividend payments for 20 consecutive years, currently yielding 1.61%. On November 29, Rajan purchased 73.185 shares of Maximus common stock at an average price of $73.719 per share, totaling approximately $5,395. These shares were acquired through dividend reinvestment, increasing her direct ownership to 18,056.805 shares.
Additionally, Rajan received 7.159 dividend equivalent rights, which are tied to previously awarded restricted stock units. These rights are the economic equivalent of one share of Maximus common stock each and vest proportionately with the related restricted stock units. Following this transaction, Rajan’s direct ownership of derivative securities stands at 1,785.075 shares.
In other recent news, Maximus Inc (NYSE:). has experienced a series of significant developments. The company reported a robust fiscal year 2024 performance, with an organic revenue increase of 8.8% and a record adjusted earnings per share (EPS) of $6.11. Free cash flow also observed a substantial rise, reaching over $400 million, nearly double the previous year’s figure. However, Maximus’s 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 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. In addition, Maximus Inc. has appointed KPMG as its new auditor, following the dismissal of Ernst & Young LLP. This change was approved by the company’s Audit Committee and will take effect for the fiscal year ending September 30, 2025.
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