Maximus (MMS)
Runs tech-enabled health, human-services, clinical, and technology programs for governments.
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Runs government health, human-services, clinical, customer-service, and technology programs across U.S. federal, state and local, and selected international markets. Revenue comes from transaction-based, cost-plus, fixed-price, and time-and-materials contracts, with federal agencies providing most of the business.
Runs tech-enabled public-service programs across the U.S. and selected international markets through the U.S. Federal Services, U.S. Services, and Outside the U.S. segments. Federal work spans program operations, clinical assessments and appeals, student-loan servicing support, and advanced technology solutions. State and local work covers health-benefit eligibility and enrollment, long-term-care assessments, employment services, and systems oversight.
Earns revenue through performance-based, cost-plus, fixed-price, and time-and-materials contracts. Large contact centers, transaction-heavy administration, clinical networks, and government technology delivery underpin execution. International operations serve the U.K., Canada, and the Middle East after portfolio divestitures narrowed the footprint.
Revenue is concentrated in U.S. government work, with a small number of federal agencies and large states contributing substantial segment revenue. Program volumes, public funding, regulation, and contract renewals shape results; nearly all government contracts can be modified or terminated for convenience.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jan 2, 2025 | Raymond James | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $57.0M · Total debt $1.73B · Total assets $4.37B · Shareholders' equity $1.74B
- Revenue
- $1.28B
- Operating income
- $161.4M
- Net income
- $103.6M
HistoryDividendAnnual yield
| Institutions | 107.62% | 56.35M shares | |
|---|---|---|---|
| 356 holders · as of Jun 30, 2026 | |||
| Insiders | 1.82% | 953.2K shares | |
| 14 holders · as of Apr 28, 2026 | |||
| Adds to | 109.44% | ||
52.36M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 109.44%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 14.22% | 7.44M | as of Jun 30, 2026 |
FMR LLCInstitution | 10.59% | 5.54M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.47% | 3.39M | as of Jun 30, 2026 |
Fuller & Thaler Asset Management, Inc.Institution | 5.16% | 2.70M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.90% | 2.57M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 17, 2026 | Jan Madsen | director | −742 | $72.25 |
| Feb 10, 2026 | Bruce Caswell | director, officer: CEO & President | +3,175 | $78.45 |
| Feb 9, 2026 | David Mutryn | officer: Chief Financial Officer | +1,000 | $75.63 |
| Dec 3, 2025 | Michelle F. Link | officer: Chief of Human Resources | −4,039 | $86.84 |
| Nov 28, 2025 | Michael J. Warren | director | +14 | $86.11 |
- Accenture
Scaled public-sector consulting and managed-services rival.
- Leidos
Health, civil, and federal modernization peer.
- Booz Allen Hamilton
Federal tech and civil-government modernization rival.
- Conduent
State healthcare BPS and eligibility-processing rival.
- CGI
Government IT and BPS rival across North America and Europe.
- CACI
Federal IT and systems-integration competitor.
- Science Applications International
U.S. government IT and civilian mission-support peer.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Maximus | $55.49 | −0.86% | $2.94B | 8.3 | 6.7 | 0.6 | −5.2% |
| Accenture | $183.05 | −1.64% | $113.89B | 14.9 | 12.8 | 1.6 | +5.6% |
| Leidos | $123.81 | −3.45% | $16.13B | 12.0 | 10.3 | 0.9 | +7.2% |
| Booz Allen Hamilton | $76.22 | −1.51% | $9.31B | 12.1 | 12.2 | 0.8 | −4.2% |
| Conduent | $1.64 | +0.31% | $252.8M | — | — | 0.1 | −29.7% |
| CGI | $68.49 | −1.34% | $14.84B | 12.1 | 10.7 | 1.3 | −1.7% |
| CACI | $619.98 | −2.04% | $13.98B | 26.2 | 18.9 | 1.5 | +17.6% |
| Science Applications International | $130.16 | −2.40% | $5.64B | 15.6 | 12.7 | 0.8 | +6.3% |
| Median | 13.5 | 12.5 | 0.9 | +5.6% |