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MCLEAN, VA – Maximus, Inc. (NYSE:MMS), a leading provider of government services worldwide with a market capitalization of $3.88 billion, announced the results of its Annual Meeting of Shareholders held today. According to InvestingPro data, the company maintains a "GOOD" overall financial health score, supported by strong liquidity metrics. The company reported a high turnout with over 89% of the outstanding common stock represented.
At the meeting, shareholders voted on several key issues, including the election of directors and the approval of executive compensation. Eight directors were elected to serve one-year terms, with Anne K. Altman, Bruce L. Caswell, John J. Haley, Jan D. Madsen, Richard A. Montoni, Gayathri Rajan, Raymond (NSE:RYMD) B. Ruddy, and Michael J. Warren all securing their positions for the coming year. The election saw a majority of votes cast in favor of each nominee, with the least votes against being for Jan D. Madsen and the most against for Raymond B. Ruddy. Trading at a P/E ratio of 14.76 and currently showing potential upside according to InvestingPro’s Fair Value analysis, the company has maintained dividend payments for 21 consecutive years, demonstrating strong corporate governance.
In addition to the board elections, shareholders ratified the appointment of KPMG LLP as the company’s independent registered public accounting firm for the fiscal year 2025. The advisory vote on executive compensation also passed, indicating shareholder approval of the company’s executive pay practices.
The voting outcomes reflect shareholder confidence in both the company’s governance and its financial oversight. The approval of KPMG LLP as the auditor underscores the trust in the firm’s ability to provide an accurate and independent assessment of Maximus’s financial health.
The company’s commitment to transparency and good governance is further evidenced by the high shareholder participation and the detailed reporting of vote outcomes. This SEC filing-based press release statement provides a clear view of the company’s adherence to corporate governance standards and its responsiveness to shareholder inputs.
In other recent news, MAXIMUS, Inc. has announced an increase in its stock buyback program by $200 million. This decision follows the completion of a previous $200 million authorization and reflects the company’s strategic approach to capital allocation. Bruce Caswell, President and CEO, emphasized that the move aligns with MAXIMUS’s commitment to maximizing shareholder value. The buyback program allows for various acquisition methods, including open market transactions and privately negotiated deals, though it does not specify a set number of shares to be purchased or an expiration date.
Additionally, Raymond James has upgraded MAXIMUS’s stock rating from Market Perform to Outperform. Analyst Brian Gesuale highlighted a compelling valuation as a reason for the upgrade, noting that the stock is trading at a discount compared to its historical peer group. Gesuale pointed out that MAXIMUS has overcome several significant challenges, such as the CCO contract and VA contract recompete. He identified potential growth catalysts, including the Census 2030 and TSA projects, and set a price target of $90.00, indicating confidence in the company’s future performance. These recent developments suggest a positive outlook for MAXIMUS as it navigates past operational hurdles and positions itself for growth.
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