Convergence Investment Partners LLC lessened its holdings in The Providence Service Co. (NASDAQ:PRSC) by 51.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,211 shares of the company’s stock after selling 11,828 shares during the period. Convergence Investment Partners LLC owned approximately 0.09% of The Providence Service worth $881,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Trexquant Investment LP increased its position in The Providence Service by 13.4% in the first quarter. Trexquant Investment LP now owns 5,903 shares of the company’s stock worth $408,000 after purchasing an additional 696 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in The Providence Service by 17.6% in the first quarter. Cubist Systematic Strategies LLC now owns 4,709 shares of the company’s stock worth $326,000 after purchasing an additional 706 shares during the last quarter. Great West Life Assurance Co. Can increased its position in The Providence Service by 5.7% in the first quarter. Great West Life Assurance Co. Can now owns 15,125 shares of the company’s stock worth $1,045,000 after purchasing an additional 822 shares during the last quarter. California Public Employees Retirement System increased its position in The Providence Service by 2.7% in the first quarter. California Public Employees Retirement System now owns 44,478 shares of the company’s stock worth $3,075,000 after purchasing an additional 1,178 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. increased its position in The Providence Service by 12.9% in the first quarter. BW Gestao de Investimentos Ltda. now owns 11,846 shares of the company’s stock worth $819,000 after purchasing an additional 1,350 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.
Shares of PRSC opened at $66.60 on Friday. The firm has a market capitalization of $821.97 million, a P/E ratio of 36.88 and a beta of 0.70. The Providence Service Co. has a fifty-two week low of $50.51 and a fifty-two week high of $83.90.
The Providence Service (NASDAQ:PRSC) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.05 by $0.08. The company had revenue of $411.79 million during the quarter. The Providence Service had a net margin of 2.22% and a return on equity of 7.49%.
Several equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of The Providence Service from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 22nd. ValuEngine upgraded shares of The Providence Service from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 21st. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $67.00.
In other The Providence Service news, Director Coliseum Capital Management, L sold 29,100 shares of The Providence Service stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $74.78, for a total transaction of $2,176,098.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 422,896 shares of company stock valued at $31,276,834 over the last ninety days. 13.83% of the stock is owned by insiders.
About The Providence Service
The Providence Service Corporation, through its subsidiaries, provides healthcare and workforce development services in the United States and internationally. It operates in two segments, Non-Emergency Transportation Services (NET Services) and Workforce Development Services (WD Services). 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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