Maximus director Gayathri Rajan buys $5,417 in stock

Gayathri Rajan, a director at Maximus, Inc. (NYSE:MMS), recently acquired 81.284 shares of the company’s common stock, valued at approximately $5,417. The shares were purchased at a price of $66.643 each. This transaction was part of a dividend reinvestment plan. Following this acquisition, Rajan now holds a total of 18,138.089 shares directly. The purchase comes as Maximus trades near its 52-week low of $63.77, with a current dividend yield of 1.78%. The company has maintained dividend payments for 21 consecutive years, demonstrating strong shareholder returns. InvestingPro analysis suggests the stock is currently undervalued, with 8 additional key insights available to subscribers.

In addition to the stock purchase, Rajan accrued 8.213 dividend equivalent rights on previously awarded restricted stock units (RSUs), which vest in proportion with the RSUs they are associated with. These rights are the economic equivalent of one share of Maximus common stock each. This brings Rajan’s total holdings of such derivative securities to 1,793.288 shares. Trading at a P/E ratio of 14.47 with a market capitalization of $3.81 billion, Maximus continues to show strong fundamentals. Discover comprehensive dividend analysis and valuation metrics with InvestingPro’s detailed research reports.

In other recent news, MAXIMUS, Inc. has announced a $200 million increase in its stock repurchase program. This decision follows the completion of a previous $200 million buyback authorization, indicating the company’s ongoing commitment to maximizing shareholder value. Bruce Caswell, President and CEO, highlighted that this move aligns with the company’s strategic capital allocation approach. The buyback program allows for flexibility in how shares are acquired, though it does not mandate a specific number of shares to be repurchased.

In related developments, Raymond (NSE:RYMD) James has upgraded MAXIMUS’s stock rating from Market Perform to Outperform, with a new price target of $90. Analyst Brian Gesuale cited a compelling valuation as a key reason for the upgrade, noting the stock’s trading discount compared to its historical peer group. Gesuale emphasized that MAXIMUS has overcome significant hurdles, including contract recompetes and divestitures, positioning the company for potential growth. The analyst also pointed to upcoming projects like the Census 2030 and TSA initiatives as catalysts. These recent developments reflect a positive outlook for MAXIMUS, as both the buyback program and analyst upgrade suggest confidence in the company’s future performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.