For years I've driven in I-95 through Jacksonville on my way to Florida and wondered about the Modis sign on a skyscraper in the distance. I found that Modis is a subsidiary of MPS Group which provides all kinds of business services. Today I have added MPS to my S&P 400 fund on Financial Tides.
Per Yahoo Finance MPS Group, Inc. provides staffing, consulting, and business solutions to various industries in the United States, Canada, the United Kingdom, continental Europe, Australia, and Asia. The company operates in two divisions, Professional Services and IT Services. The Professional Services division provides specialized staffing and recruiting in the disciplines of accounting and finance, law, engineering, healthcare, and property to companies and government agencies. This segment also offers technical and engineering strategic workforce solutions, such as on-site management consulting and in-house project services; and staffs temporary and full-time employees in attorney, paralegal, legal administrative, and legal secretarial positions. It also places temporary and full-time employees in accounting and finance, tax, and audit positions; and traveling healthcare professionals in the areas of nursing, physical and occupational therapy, and speech and language therapy. The IT Services division provides specialty staffing, consulting and business solutions, and marketing and creative solutions. This segment engages in the placement of IT contract consultants for IT project support and staffing; recruitment of full-time positions; and provision of on-site recruiting support for application development, systems integration, and enterprise application integration. It also specializes in Web design and development, application development, digital data management, business intelligence, infrastructure and security, and interactive marketing; and provides software-based workforce solutions. MPS Group, Inc. offers its services primarily under the Modis, Badenoch & Clark, Accounting Principals, Entegee, Special Counsel, Idea Integration, Soliant Health, and Beeline brand names. The company was formerly known as Accustaff Incorporated and changed its name to MPS Group, Inc. in 2002. MPS Group, Inc. was founded in 1992 and is headquartered in Jacksonville, Florida.
Outsourcing of business services is big business these days and MPS is one of the biggest. 12 analysts follow the company and 3 presently rate it a buy or strong buy. Earnings consensus is expected to increase from 10 cents a share this year to over 18 cent next year; an 80% increase.
On a Technical Analysis basis BarChart rates this stock a 96% buy with 12 of 13 indicators a buy and only one hold. The 6o% price increase in the past 65 days shows MPS is finally being recognized as a leader in its industry. 7 new highs in the past 20 days shows price appreciation still has room to grow.
Recommendation : BUY MPS -- MPS Group below 13.60 and keep a tight stop loss around 12.50.
Jim Van Meerten is an investor and writes on financial matters here and on Financial Tides. Please make a comment below or email to FinancialTides@gmail.com
Disclosure: I hold in my Marketocracy S&P 400 portfolio but have no actual positions in MPS at the time of this publication
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