The Providence Service (NASDAQ:PRSC) Raised to Buy at BidaskClub

The Providence Service (NASDAQ:PRSC) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday, BidAskClub reports.

Shares of The Providence Service stock opened at $69.90 on Friday. The stock has a market capitalization of $849.22 million, a P/E ratio of 30.61 and a beta of 0.78. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $61.02 and a two-hundred day moving average price of $60.54. The Providence Service has a 12-month low of $46.53 and a 12-month high of $75.61.

The Providence Service (NASDAQ:PRSC) last announced its earnings results on Wednesday, August 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.13). The company had revenue of $363.91 million for the quarter, compared to the consensus estimate of $364.40 million. The Providence Service had a positive return on equity of 9.33% and a negative net margin of 1.14%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 EPS.

In other The Providence Service news, CEO R Carter Pate acquired 1,000 shares of The Providence Service stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $57.97 per share, with a total value of $57,970.00. Following the completion of the transaction, the chief executive officer now owns 24,317 shares of the company’s stock, valued at $1,409,656.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin M. Dotts acquired 864 shares of The Providence Service stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $57.80 per share, with a total value of $49,939.20. Following the completion of the transaction, the chief financial officer now directly owns 864 shares of the company’s stock, valued at approximately $49,939.20. The disclosure for this purchase can be found here. 11.62% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Nuveen Asset Management LLC bought a new stake in shares of The Providence Service in the second quarter valued at approximately $10,735,000. Wedge Capital Management L L P NC boosted its position in shares of The Providence Service by 0.7% in the second quarter. Wedge Capital Management L L P NC now owns 273,416 shares of the company’s stock valued at $15,678,000 after acquiring an additional 1,788 shares during the period. WINTON GROUP Ltd boosted its position in shares of The Providence Service by 3.7% in the second quarter. WINTON GROUP Ltd now owns 7,621 shares of the company’s stock valued at $437,000 after acquiring an additional 269 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of The Providence Service in the second quarter valued at approximately $488,000. Finally, JPMorgan Chase & Co. boosted its position in shares of The Providence Service by 69.6% in the second quarter. JPMorgan Chase & Co. now owns 38,575 shares of the company’s stock valued at $2,210,000 after acquiring an additional 15,825 shares during the period.

About The Providence Service

The Providence Service Corporation provides healthcare services in the United States. It operates through Non-Emergency 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.

Featured Story: Blockchain

Receive News & Ratings for The Providence Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Providence Service and related companies with MarketBeat.com's FREE daily email newsletter.