Maximus, Inc.

Company Overview:  Maximus, Inc. (NYSE: MMS) provides business process services (BPS) in the health services and human services markets. The Company operates through three segments: U.S. Services, U.S. Federal Services, and Outside the U.S. The U.S. Services segment provides a variety of BPS, such as program administration, appeals and assessments, and related consulting work for United States state and local government programs.

As per our previous “American Tech Report” published on MMS on 25th Octorber 2022, Kalkine provided a ‘Buy’ stance on the stock at USD 56.69 based on ‘Higher ROE, lower balance sheet risk, and upside indicated based on Valuation done, and the stock price has now moved by ~23.74% since then and the price has crossed both the Resistance 1 and Resistance 2 levels.

Noted below are the details of support and resistance levels provided in our previous report:

MMS’s Daily Chart

(Source: Refinitiv, Analysis done by Kalkine Group) 

Considering the resistance, the Fed’s latest announcement, current trading levels, risks associated, and volatile market conditions on the back of rising interest rates, a ‘Sell’ rating is assigned to the “MMS” at the closing market price of USD 70.15 (as of 23 November).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 23^th November 2022. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’