Maximus director Raymond B. Ruddy bought $249,395 worth of Bi Investing.com stock

Raymond (NS:) B. Ruddy, CEO of Maximus, Inc. (NISE:NISE:), recently bought 3,490 shares of the company’s stock. The transaction dated December 12, 2024 is valued at approximately $249,395, with a price per share of $71.46. The buy comes as the stock is trading near its 52-week low of $70.00, with InvestingPro analysis indicating that the stock is currently undervalued. Following this acquisition, Ruddi holds a total of 112,520.04 shares directly in the company, which boasts a perfect Piotroski score of 9 and has maintained a dividend payout for 20 consecutive years. InvestingPro subscribers have access to 10+ additional exclusive insights about Maximus, including detailed valuation metrics and financial health indicators. This transaction was filed on Form 4 with the Securities and Exchange Commission.

In other recent news, Makimus reported a significant development. The company posted a strong fiscal year in 2024, with organic revenue growth of 8.8% and record adjusted earnings per share (EPS) of $6.11. Free cash flow also saw a significant increase, reaching over $400 million, almost double the previous year.

However, Maximus’ contract with the US Department of Health and Human Services, Centers for Medicare and Medicaid Services (CMS) to operate the Contact Center has been cancelled. This contract was for the services that Maximus is currently contracted to provide, with option periods extending through 2031.

On the financial side, Maximus increased its share buyback program by $200 million, following the completion of its previous $200 million share buyback authorization. The company’s CEO Bruce Caswell said that this decision is in line with the company’s strategic approach to share buybacks and reflects their confidence in the company’s future.

Regarding the audit, Maximus has terminated Ernst & Young LLP as its independent registered public accounting firm and appointed KPMG LLP to assume audit responsibilities for the fiscal year ending September 30, 2025. Ultimately, Maximus anticipates that revenue for fiscal 2025 will be be in between $5.25 billion and $5.425 billion, with adjusted earnings per share forecast to be in the range of $5.70 to $6.00 per share.

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