Bank of New York Mellon Corp lowered its stake in The Providence Service Corporation (NASDAQ:PRSC) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 134,857 shares of the company’s stock after selling 4,998 shares during the quarter. Bank of New York Mellon Corp owned about 1.00% of The Providence Service worth $7,293,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. AJO LP raised its position in The Providence Service by 783.3% in the 2nd quarter. AJO LP now owns 142,996 shares of the company’s stock worth $7,237,000 after purchasing an additional 126,807 shares during the period. Ameriprise Financial Inc. grew its stake in The Providence Service by 82.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 169,560 shares of the company’s stock worth $8,582,000 after acquiring an additional 76,380 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in The Providence Service by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 936,513 shares of the company’s stock worth $47,397,000 after acquiring an additional 61,649 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in The Providence Service by 74.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 143,120 shares of the company’s stock worth $7,243,000 after acquiring an additional 61,241 shares in the last quarter. Finally, Shell Asset Management Co. bought a new position in The Providence Service in the 3rd quarter worth about $2,554,000. Institutional investors and hedge funds own 95.34% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. TheStreet upgraded shares of The Providence Service from a “c+” rating to a “b” rating in a research note on Tuesday, November 7th. Zacks Investment Research raised shares of The Providence Service from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Barrington Research reissued an “outperform” rating and set a $67.00 target price on shares of The Providence Service in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $67.00.
In related news, Director Richard A. Kerley sold 3,500 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.07, for a total transaction of $206,745.00. Following the transaction, the director now directly owns 33,152 shares in the company, valued at $1,958,288.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Coliseum Capital Management, L sold 314,605 shares of The Providence Service stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $56.07, for a total transaction of $17,639,902.35. The disclosure for this sale can be found here. 18.93% of the stock is owned by company insiders.
The Providence Service Corporation (PRSC) opened at $64.34 on Friday. The Providence Service Corporation has a fifty-two week low of $35.65 and a fifty-two week high of $65.47. The stock has a market cap of $861.40, a price-to-earnings ratio of -42.61, a price-to-earnings-growth ratio of 2.63 and a beta of 0.89.
The Providence Service (NASDAQ:PRSC) last issued its earnings results on Tuesday, November 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The firm had revenue of $409.50 million during the quarter, compared to analysts’ expectations of $407.00 million. The Providence Service had a net margin of 4.91% and a return on equity of 6.29%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 earnings per share. analysts predict that The Providence Service Corporation will post 1.35 earnings per share for the current fiscal year.
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The Providence Service Company Profile
The Providence Service Corporation (Providence) is a holding company. The Company, through its subsidiaries, is engaged in the provision of healthcare and workforce development services for public and private sector entities. The Company’s segments include Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Matrix Investment.
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