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Fly News Breaks for August 25, 2015
HMSY
Aug 25, 2015 | 08:33 EDT
William Blair analyst Ryan Daniels said that New York was HMS Holdings' second-largest client by revenue in 2014 and estimates that the company's existing third-party liability, or TPL, contract is the largest it has with the state, accounting for roughly $15M in annual revenue. Daniels called the renewal win disclosed by the company yesterday a "large positive," as it solidifies the company's defense of its competitive advantage and makes the surprise New Jersey decision last month look more like a "one-off" occurrence. The firm keeps its Outperform rating on HMS shares.
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