Globeflex Capital L P increased its holdings in shares of The Providence Service Co. (NASDAQ:PRSC) by 3.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,651 shares of the company’s stock after purchasing an additional 554 shares during the period. Globeflex Capital L P owned 0.11% of The Providence Service worth $1,454,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRSC. Altshuler Shaham Ltd acquired a new stake in The Providence Service in the third quarter valued at approximately $27,000. Nisa Investment Advisors LLC acquired a new stake in The Providence Service in the third quarter valued at approximately $42,000. PNC Financial Services Group Inc. boosted its stake in The Providence Service by 15.3% in the second quarter. PNC Financial Services Group Inc. now owns 829 shares of the company’s stock valued at $65,000 after acquiring an additional 110 shares in the last quarter. Bank of Montreal Can boosted its stake in The Providence Service by 193.3% in the second quarter. Bank of Montreal Can now owns 1,613 shares of the company’s stock valued at $125,000 after acquiring an additional 1,063 shares in the last quarter. Finally, First Mercantile Trust Co. acquired a new stake in The Providence Service in the second quarter valued at approximately $144,000.
Several equities research analysts have weighed in on the stock. Barrington Research raised their target price on shares of The Providence Service from $104.00 to $152.00 and gave the company an “outperform” rating in a research note on Monday, November 9th. TheStreet upgraded shares of The Providence Service from a “c+” rating to an “a-” rating in a research note on Friday, November 13th. Finally, Zacks Investment Research downgraded shares of The Providence Service from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The Providence Service presently has a consensus rating of “Buy” and an average target price of $123.00.
NASDAQ:PRSC opened at $136.82 on Monday. The Providence Service Co. has a 12 month low of $40.40 and a 12 month high of $138.68. The firm has a fifty day simple moving average of $119.36 and a 200-day simple moving average of $91.97. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.94 billion, a P/E ratio of -2,279.95 and a beta of 0.84.
The Providence Service (NASDAQ:PRSC) last issued its earnings results on Wednesday, November 11th. The company reported $2.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $1.27. The Providence Service had a net margin of 0.23% and a return on equity of 17.59%. The firm had revenue of $320.60 million during the quarter, compared to analysts’ expectations of $341.98 million. The business’s revenue for the quarter was down 18.5% on a year-over-year basis. Equities analysts forecast that The Providence Service Co. will post 5 EPS for the current year.
The Providence Service Profile
The Providence Service Corporation provides healthcare services in the United States. It operates through Non-Emergency Medical Transportation Services (NET Services) and Matrix Investment segments. The NET Services segment offers non-emergency medical transportation services for Medicaid or Medicare eligible members, whose limited mobility or financial resources hinder their ability to access necessary healthcare and social services.
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