Maximus, Inc. (MMS) shareholders
MMSNYSEServices-Business Services, NECFiscal year ends September 30
Financials through Q3 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026Score 22/3051% below fair value
$64.71−0.16 (-0.25%)
Close on Nov 13, 2026Market cap $3.39BP/E 9.6Yield 1.85%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
100.0%
56M of 52M shares
Institutional holders
351
55 new, 73 sold out
Net institutional buying
-1M
In Q2 2026
Insider trades, 12 months
6 buys · 3 sales
Net sold $248.73K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 7,429,468 | 12.30% | 13G (passive) amendment | Dec 31, 2024 |
| FMR LLC Joint filing with Abigail P. Johnson (10.60%) | 5,544,432 | 10.60% | 13G (passive) amendment | Jun 30, 2026 |
| Vanguard Portfolio Management | 3,523,165 | 6.45% | 13G (passive) | Mar 31, 2026 |
| Vanguard Capital Management | 2,857,086 | 5.23% | 13G (passive) | Mar 31, 2026 |
| Fuller & Thaler Asset Management, Inc. | 2,702,710 | 5.14% | 13G (passive) | Jun 30, 2026 |
| Dimensional Fund Advisors LP | 2,666,222 | 5.10% | 13G (passive) | Sep 30, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of MMS | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 7,443,930 | 14.22% | $400.19M | −75,697 | 0.01% |
| FMR LLC | 5,544,432 | 10.59% | $298.07M | −2,633,941 | 0.01% |
| Vanguard Portfolio Management LLC | 3,388,533 | 6.47% | $182.17M | −83,103 | 0.01% |
| Fuller & Thaler Asset Management, Inc. | 2,702,710 | 5.16% | $145.30M | +621,244 | 0.40% |
| State Street Corp | 2,566,033 | 4.90% | $137.95M | +107,141 | 0.00% |
| Vanguard Capital Management LLC | 2,366,161 | 4.52% | $127.20M | −71,475 | 0.00% |
| Dimensional Fund Advisors LP | 2,354,118 | 4.50% | $126.56M | +246,840 | 0.02% |
| Reinhart Partners, LLC. | 1,982,415 | 3.79% | $106.58M | +1,127,346 | 2.43% |
| Geode Capital Management, LLC | 1,577,117 | 3.01% | $84.80M | +79,438 | 0.00% |
| Van Berkom & Associates Inc. | 1,088,046 | 2.08% | $58.49M | −1,256,334 | 1.88% |
| Allianz Asset Management GmbH | 951,702 | 1.82% | $55.27M | +56,773 | 0.05% |
| Boston Partners | 910,040 | 1.74% | $49.24M | +240,987 | 0.04% |
| Stephens Investment Management Group LLC | 854,785 | 1.63% | $45.95M | +138,396 | 0.49% |
| Qube Research & Technologies Ltd | 782,546 | 1.49% | $42.07M | +384,427 | 0.04% |
| River Road Asset Management, LLC | 759,899 | 1.45% | $40.85M | −66,325 | 0.45% |
| Sio Capital Management, LLC | 715,267 | 1.37% | $38.45M | −53,558 | 6.36% |
| Charles Schwab Investment Management Inc | 703,314 | 1.34% | $37.81M | −13,606 | 0.01% |
| Northern Trust Corp | 699,692 | 1.34% | $37.62M | +6,664 | 0.00% |
| Norges Bank | 695,683 | 1.33% | $37.40M | New | 0.00% |
| Prudential Financial Inc | 683,912 | 1.31% | $36.77M | +662,785 | 0.04% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 351 | 56M | 100.0% | 55 / 141 | 115 / 73 | 9M | 10M |
| Q1 2026 | 375 | 57M | 100.0% | 63 / 118 | 150 / 68 | 12M | 9M |
| Q4 2025 | 386 | 59M | 100.0% | 64 / 125 | 144 / 55 | 9M | 5M |
| Q3 2025 | 384 | 56M | 100.0% | 52 / 147 | 132 / 39 | 4M | 6M |
| Q2 2025 | 378 | 57M | 100.0% | 60 / 142 | 127 / 36 | 4M | 4M |
| Q1 2025 | 355 | 57M | 100.0% | 58 / 116 | 142 / 54 | 5M | 11M |
| Q4 2024 | 353 | 63M | 100.0% | 65 / 134 | 117 / 78 | 12M | 8M |
| Q3 2024 | 371 | 59M | 100.0% | 52 / 146 | 116 / 33 | 13M | 6M |
| Q2 2024 | 355 | 59M | 100.0% | 52 / 131 | 119 / 42 | 4M | 4M |
| Q1 2024 | 349 | 60M | 100.0% | 57 / 134 | 100 / 50 | 4M | 4M |
| Q4 2023 | 344 | 60M | 100.0% | 63 / 102 | 128 / 34 | 4M | 4M |
| Q3 2023 | 322 | 60M | 100.0% | 52 / 83 | 135 / 32 | 3M | 3M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
409 funds held MMS in Q2 2026, 45% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of MMS | Value | % of fund | As of |
|---|---|---|---|---|---|
| Undiscovered Managers Behavioral Value Fund | 2,199,625 | 4.20% | $118.25M | 1.31% | Jun 30, 2026 |
| iShares Core S&P Mid-Cap ETF | 1,796,367 | 3.43% | $96.57M | 0.08% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 1,668,873 | 3.19% | $89.72M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 1,413,465 | 2.70% | $75.99M | 0.09% | Jun 30, 2026 |
| Fidelity Low-Priced Stock Fund | 1,374,019 | 2.62% | $82.78M | 0.33% | Jul 31, 2026 |
| Vanguard Small-Cap Index Fund | 1,206,393 | 2.30% | $64.86M | 0.03% | Jun 30, 2026 |
| Strategic Advisers Fidelity U.S. Total Stock Fund | 1,102,039 | 2.10% | $68.25M | 0.03% | May 31, 2026 |
| Vanguard Small-Cap Value Index Fund | 763,293 | 1.46% | $41.03M | 0.06% | Jun 30, 2026 |
| Fidelity Series Value Discovery Fund | 712,877 | 1.36% | $42.95M | 0.24% | Jul 31, 2026 |
| Fidelity Small Cap Index Fund | 602,369 | 1.15% | $36.29M | 0.11% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 601,904 | 1.15% | $32.36M | 0.03% | Jun 30, 2026 |
| Vanguard Explorer Fund | 501,918 | 0.96% | $30.24M | 0.14% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 451,505 | 0.86% | $24.27M | 0.17% | Jun 30, 2026 |
| U.S. Targeted Value Portfolio | 426,760 | 0.82% | $25.71M | 0.15% | Jul 31, 2026 |
| Vanguard Strategic Equity Fund | 373,527 | 0.71% | $20.08M | 0.17% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Bruce Caswell | CEO & President, Director | 328,013 | 0.63% | Feb 11, 2026 |
| Elizabeth Moellering | General Counsel and Corp. Sec. | 4,382 | 0.01% | Oct 2, 2026 |
| Theresa D. Golinvaux | Principal Accounting Officer | 12,349 | 0.02% | Oct 2, 2026 |
| Ilene R. Baylinson | General Mgr - Health & Human | 21,689 | 0.04% | Oct 2, 2026 |
| Michelle F. Link | Chief of Human Resources | 13,881 | 0.03% | Oct 2, 2026 |
| David Mutryn | Chief Financial Officer | 35,614 | 0.07% | Oct 2, 2026 |
| John Thomas Martinez | Chief Legal Officer | 22,641 | 0.04% | Dec 2, 2025 |
| Jan Madsen | Director | 20,795 | 0.04% | Mar 17, 2026 |
| Michael J. Warren | Director | 17,839 | 0.03% | Mar 12, 2026 |
| Anne K. Altman | Director | 35,142 | 0.07% | Mar 12, 2026 |
| Gayathri Rajan | Director | 16,705 | 0.03% | Mar 12, 2026 |
| John J. Haley | Director | 151,012 | 0.29% | Mar 12, 2026 |
| Richard A. Montoni | Director | 157,335 | 0.30% | Mar 2, 2026 |
| Raymond B. Ruddy | Director | 419,240 | 0.80% | Dec 2, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Michelle F. Link Chief of Human Resources | Oct 1, 2026 | Sale(10b5-1 plan) | −3,208 | $54.23 | $173.97K | 13,881 |
| David Mutryn Chief Financial Officer | Sep 30, 2026 | Tax withholding | −4,749.296 | $53.19 | $252.62K | 35,614 |
| Elizabeth Moellering General Counsel and Corp. Sec. | Sep 30, 2026 | Tax withholding | −712.615 | $53.19 | $37.90K | 4,382 |
| Theresa D. Golinvaux Principal Accounting Officer | Sep 30, 2026 | Tax withholding | −1,243.595 | $53.19 | $66.15K | 12,349 |
| Ilene R. Baylinson General Mgr - Health & Human | Sep 30, 2026 | Tax withholding | −3,944.553 | $53.19 | $209.81K | 21,689 |
| Michelle F. Link Chief of Human Resources | Sep 30, 2026 | Tax withholding | −2,636.979 | $53.19 | $140.26K | 17,089 |
| Jan Madsen Director | Mar 17, 2026 | Sale(10b5-1 plan) | −742 | $72.25 | $53.61K | 20,795 |
| Gayathri Rajan Director | Mar 10, 2026 | Award | +2,246 | – | – | 16,705 |
| Michael J. Warren Director | Mar 10, 2026 | Award | +2,246 | – | – | 17,839 |
| John J. Haley Director | Mar 10, 2026 | Award | +7,009 | – | – | 47,116 |
| Anne K. Altman Director | Mar 10, 2026 | Award | +3,062 | – | – | 35,142 |
| Jan Madsen Director | Mar 10, 2026 | Award | +3,215 | – | – | 21,537 |
| Richard A. Montoni Director | Feb 27, 2026 | Gift | −7,000 | – | – | 45,500 |
| Richard A. Montoni Director | Feb 24, 2026 | Gift | −3,000 | – | – | 52,500 |
| John J. Haley Director | Feb 18, 2026 | Gift | +32,764 | – | – | 32,764 |
| John J. Haley Director | Feb 18, 2026 | Gift | −32,764 | – | – | 0 |
| John J. Haley Director | Feb 10, 2026 | Gift | +32,764 | – | – | 32,764 |
| John J. Haley Director | Feb 10, 2026 | Gift | −32,764 | – | – | 39,971 |
| Bruce Caswell CEO & President, Director | Feb 10, 2026 | Buy | +1,691 | $78.77 | $133.20K | 328,013 |
| Bruce Caswell CEO & President, Director | Feb 10, 2026 | Buy | +1,332 | $78.22 | $104.19K | 326,322 |
| Bruce Caswell CEO & President, Director | Feb 10, 2026 | Buy | +152 | $76.92 | $11.69K | 324,990 |
| David Mutryn Chief Financial Officer | Feb 9, 2026 | Buy | +1,000 | $75.63 | $75.63K | 40,037 |
| Michelle F. Link Chief of Human Resources | Dec 3, 2025 | Sale(10b5-1 plan) | −4,039 | $86.84 | $350.75K | 19,542 |
| Bruce Caswell CEO & President, Director | Dec 2, 2025 | Award | +96,187.39 | – | – | 372,116 |
| Bruce Caswell CEO & President, Director | Dec 2, 2025 | Tax withholding | −47,276.1 | $86.51 | $4.09M | 324,838 |
| Michelle F. Link Chief of Human Resources | Dec 2, 2025 | Award | +7,358.34 | – | – | 26,899 |
| Michelle F. Link Chief of Human Resources | Dec 2, 2025 | Tax withholding | −3,318.61 | $86.51 | $287.09K | 23,581 |
| Bruce Caswell CEO & President, Director | Dec 2, 2025 | Award | +13,391.39 | – | – | 45,076 |
| Bruce Caswell CEO & President, Director | Dec 2, 2025 | Tax withholding | −39,036.75 | $86.51 | $3.38M | 39,037 |
| Theresa D. Golinvaux Principal Accounting Officer | Dec 2, 2025 | Tax withholding | −541.55 | $86.51 | $46.85K | 13,488 |
| Theresa D. Golinvaux Principal Accounting Officer | Dec 2, 2025 | Award | +1,200.77 | – | – | 14,029 |
| Ilene R. Baylinson General Mgr - Health & Human | Dec 2, 2025 | Award | +7,647.47 | – | – | 29,224 |
| Ilene R. Baylinson General Mgr - Health & Human | Dec 2, 2025 | Tax withholding | −3,831.38 | $86.51 | $331.45K | 25,393 |
| David Mutryn Chief Financial Officer | Dec 2, 2025 | Tax withholding | −6,039.52 | $86.51 | $522.48K | 39,037 |
| David Mutryn Chief Financial Officer | Dec 2, 2025 | Award | +13,391.39 | – | – | 45,076 |
| Michael J. Warren Director | Dec 1, 2025 | Award | +39.07 | – | – | 15,524 |
| Jan Madsen Director | Dec 1, 2025 | Award | +50.14 | – | – | 18,257 |
| Ilene R. Baylinson General Mgr - Health & Human | Dec 1, 2025 | Award | +27.64 | – | – | 21,577 |
| Michelle F. Link Chief of Human Resources | Dec 1, 2025 | Award | +20.01 | – | – | 19,541 |
| Theresa D. Golinvaux Principal Accounting Officer | Dec 1, 2025 | Award | +14.34 | – | – | 12,829 |
| Gayathri Rajan Director | Dec 1, 2025 | Award | +7.59 | – | – | 14,396 |
| Raymond B. Ruddy Director | Dec 1, 2025 | Award | +693.71 | – | – | 315,940 |
| Richard A. Montoni Director | Dec 1, 2025 | Gift | −12,000 | – | – | 55,500 |
| John J. Haley Director | Dec 1, 2025 | Award | +104.14 | – | – | 39,971 |
| Anne K. Altman Director | Dec 1, 2025 | Award | +10.63 | – | – | 32,066 |
| David Mutryn Chief Financial Officer | Dec 1, 2025 | Award | +36.92 | – | – | 31,685 |
| John Thomas Martinez Chief Legal Officer | Dec 1, 2025 | Award | +32.94 | – | – | 22,641 |
| Michael J. Warren Director | Nov 28, 2025 | Buy | +14.4 | $86.11 | $1.24K | 15,485 |
| Gayathri Rajan Director | Nov 28, 2025 | Buy | +42.3 | $86.11 | $3.64K | 14,388 |
| Michelle F. Link Chief of Human Resources | Nov 24, 2025 | Award | +6,013 | – | – | 19,521 |
| David Mutryn Chief Financial Officer | Nov 24, 2025 | Award | +10,259 | – | – | 35,648 |
| David Mutryn Chief Financial Officer | Nov 24, 2025 | Gift | −4,000 | – | – | 31,648 |
| Ilene R. Baylinson General Mgr - Health & Human | Nov 24, 2025 | Award | +7,409 | – | – | 21,549 |
| John Thomas Martinez Chief Legal Officer | Nov 24, 2025 | Award | +7,409 | – | – | 22,608 |
| Theresa D. Golinvaux Principal Accounting Officer | Nov 24, 2025 | Award | +2,565 | – | – | 12,814 |
| Michelle F. Link Chief of Human Resources | Oct 1, 2025 | Sale(10b5-1 plan) | −1,610 | $90.86 | $146.28K | 13,508 |
| John Thomas Martinez Chief Legal Officer | Sep 30, 2025 | Tax withholding | −3,017.12 | $91.37 | $275.67K | 15,199 |
| Theresa D. Golinvaux Principal Accounting Officer | Sep 30, 2025 | Tax withholding | −1,206.76 | $91.37 | $110.26K | 10,249 |
| Ilene R. Baylinson General Mgr - Health & Human | Sep 30, 2025 | Tax withholding | −3,622.93 | $91.37 | $331.03K | 14,140 |
| Michelle F. Link Chief of Human Resources | Sep 30, 2025 | Tax withholding | −2,255.65 | $91.37 | $206.10K | 15,118 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
5.99%
3M shares short
Days to cover
5.6
At 1M shares a day
Change since last report
-12.3%
From 3M shares
Short volume, 20 days
63.8%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of Maximus's stock actually held short. Settlement fails (shares not delivered on time) peaked at 7,680 shares on Aug 20, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Michelle F. Link Officer | Oct 1, 2026 | 3,208 | $173.97K | Oct 1, 2026 | Restricted Stock Vesting |
| Jan Madsen Director | Mar 17, 2026 | 742 | $53.61K | Mar 17, 2026 | Restricted Stock Vesting |
| Michelle F. Link Officer | Dec 3, 2025 | 4,039 | $350.75K | Dec 3, 2025 | Restricted Stock Vesting |
| Michelle F. Link Officer | Oct 1, 2025 | 1,610 | $146.28K | Oct 1, 2025 | Restricted Stock Vesting |
| Gayathri Rajan Director | May 30, 2025 | 7,914 | $572.80K | May 30, 2025 | Restricted Stock Vesting |
| Jan Madsen Director | Mar 18, 2025 | 2,439 | $165.14K | Mar 18, 2025 | Restricted Stock Vesting |
| Michelle F. Link Officer | Dec 3, 2024 | 2,208 | $163.02K | Dec 3, 2024 | Restricted Stock Vesting |
| Michelle F. Link Officer | Oct 1, 2024 | 1,363 | $126.16K | Oct 1, 2024 | Restricted Stock Vesting |
| David Mutryn Officer | Feb 16, 2024 | 8,000 | $671.62K | Feb 16, 2024 | Restricted Stock Vesting |
| Teresa Weipert Officer | Dec 13, 2023 | 2,145 | $182.74K | Dec 13, 2023 | Restricted Stock Vesting |
| Michelle F. Link Officer | Dec 4, 2023 | 1,765 | $150.40K | Dec 4, 2023 | Performance Shares |
| Francis David Officer | Nov 20, 2023 | 2,073 | $168.47K | Nov 20, 2023 | Restricted Stock Vesting |
| Francis David Former Officer | Oct 4, 2023 | 5,306 | $387.02K | Oct 4, 2023 | Restricted Stock Vesting |
| Michael J. Warren Director | Sep 18, 2023 | 1,880 | $150.11K | Sep 18, 2023 | Restricted Stock Vesting |
| Michael J. Warren Director | Aug 16, 2023 | 2,490 | $198.02K | Aug 16, 2023 | Restricted Stock Vesting |
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