The Providence Service Corporation (PRSC) Stake Increased by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in The Providence Service Corporation (NASDAQ:PRSC) by 3.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 655,699 shares of the company’s stock after buying an additional 22,834 shares during the period. Vanguard Group Inc. owned 4.86% of The Providence Service Corporation worth $29,139,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PRSC. Kestrel Investment Management Corp bought a new stake in The Providence Service Corporation during the first quarter valued at about $6,004,000. Prudential Financial Inc. boosted its stake in The Providence Service Corporation by 78.0% in the first quarter. Prudential Financial Inc. now owns 108,827 shares of the company’s stock valued at $4,836,000 after buying an additional 47,700 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in The Providence Service Corporation by 45.7% in the first quarter. Ameriprise Financial Inc. now owns 93,180 shares of the company’s stock valued at $4,141,000 after buying an additional 29,215 shares during the last quarter. Neumeier Poma Investment Counsel LLC boosted its stake in The Providence Service Corporation by 8.7% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 272,595 shares of the company’s stock valued at $12,114,000 after buying an additional 21,825 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in The Providence Service Corporation by 707.0% in the first quarter. JPMorgan Chase & Co. now owns 24,831 shares of the company’s stock valued at $1,103,000 after buying an additional 21,754 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.

The Providence Service Corporation (NASDAQ:PRSC) traded up 0.26% on Friday, reaching $51.10. 12,162 shares of the company’s stock traded hands. The Providence Service Corporation has a 52 week low of $34.88 and a 52 week high of $54.99. The firm has a 50-day moving average price of $50.52 and a 200-day moving average price of $45.83. The stock has a market capitalization of $689.90 million, a price-to-earnings ratio of 10.64 and a beta of 0.95.

The Providence Service Corporation (NASDAQ:PRSC) last issued its earnings results on Tuesday, August 8th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.10. The company had revenue of $407.98 million during the quarter, compared to analysts’ expectations of $392.71 million. The Providence Service Corporation had a return on equity of 6.94% and a net margin of 4.11%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 EPS. On average, analysts predict that The Providence Service Corporation will post $1.44 earnings per share for the current year.

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PRSC has been the topic of several recent analyst reports. Zacks Investment Research cut shares of The Providence Service Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. ValuEngine raised shares of The Providence Service Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub lowered shares of The Providence Service Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Barrington Research raised their target price on shares of The Providence Service Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The Providence Service Corporation has an average rating of “Hold” and an average target price of $55.50.

About The Providence Service Corporation

The Providence Service Corporation (Providence) is a holding company. The Company, through its subsidiaries, is engaged in the provision of healthcare and workforce development services for public and private sector entities. The Company’s segments include Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Matrix Investment.

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Institutional Ownership by Quarter for The Providence Service Corporation (NASDAQ:PRSC)

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