Published On: Sat, Sep 17th, 2016

The Providence Service Corp. (PRSC) Upgraded to “Hold” at Zacks Investment Research

The Providence Service Corp. (NASDAQ:PRSC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.
According to Zacks, “Providence Service Corporation provides human services and non-emergency transportation (NET) management services to children, adolescents, young adults, and families. The Company focuses on providing its social services in the client’s home or in community-based settings. It provides its NET management services through local transportation providers. The company’s services are reimbursed by government programs such as welfare, juvenile justice, Medicaid or corrections. Providence Service Corporation is based in Tucson, Arizona. “
The Providence Service Corp. (NASDAQ:PRSC) opened at 47.60 on Friday. The firm has a 50 day moving average price of $46.18 and a 200 day moving average price of $48.08. The stock has a market capitalization of $690.15 million, a P/E ratio of 11.57 and a beta of 0.99. The Providence Service Corp. has a 52 week low of $41.80 and a 52 week high of $56.92.

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The Providence Service Corp. (NASDAQ:PRSC) last posted its earnings results on Monday, August 1st. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The company earned $450.60 million during the quarter, compared to analyst estimates of $433.38 million. The Providence Service Corp. had a return on equity of 10.13% and a net margin of 3.51%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 earnings per share. Equities research analysts predict that The Providence Service Corp. will post $2.58 earnings per share for the current year.
In other The Providence Service Corp. news, CEO James M. Lindstrom acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The stock was acquired at an average cost of $46.61 per share, with a total value of $116,525.00. Following the acquisition, the chief executive officer now directly owns 26,153 shares of the company’s stock, valued at approximately $1,218,991.33. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David Casey Shackelton acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The stock was acquired at an average cost of $46.85 per share, with a total value of $93,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 13,319 shares in the company, valued at $623,995.15. The disclosure for this purchase can be found here. Insiders own 14.40% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Mason Street Advisors LLC acquired a new position in shares of The Providence Service Corp. during the second quarter worth about $107,000. BNP Paribas Arbitrage SA raised its position in shares of The Providence Service Corp. by 84.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,832 shares of the company’s stock worth $172,000 after buying an additional 1,756 shares during the period. Capital Fund Management S.A. acquired a new position in shares of The Providence Service Corp. during the second quarter worth about $211,000. AHL Partners LLP acquired a new position in shares of The Providence Service Corp. during the second quarter worth about $223,000. Finally, Thrivent Financial for Lutherans raised its position in shares of The Providence Service Corp. by 2.8% in the second quarter. Thrivent Financial for Lutherans now owns 5,960 shares of the company’s stock worth $267,000 after buying an additional 160 shares during the period. 97.25% of the stock is owned by institutional investors and hedge funds.
The Providence Service Corp. Company Profile
The Providence Service Corporation is a holding company. The Company, through its subsidiaries, provides critical healthcare and workforce development services. It operates in over two industry sectors, including the United States healthcare and global workforce development, through its three operating segments: Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Health Assessment Services (HA Services).

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