Hewlett-Packard Lands $220 Million Contract With Indiana for Medicaid System (HPQ)

Hewlett-Packard Lands $220 Million Contract With Indiana for Medicaid System (HPQ)

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Technology company and the world’s largest PC maker Hewlett-Packard Company (HPQ) announced on Wednesday that it has come to terms with the Indiana Department of Administration to continue its 20-year relationship as the state’s Medicaid fiscal agent in a contract worth $220 million.

The deal is a six-and-a-half year agreement. Hewlett-Packard will construct and implement the state’s new interChange Medicaid Management Information System. Also, the deal involves moving users into the new system, as well as four years of service delivery and maintenance.

The deal contains two one-year options, but those are not included in the contract’s value.

Hewlett-Packard shares were down 7 cents, or -0.28%, during pre-market trading on Wednesday. The stock is up +72.77% year-to-date.

The Bottom Line
Shares of Hewlett-Packard (HPQ) have a dividend yield of 2.36% based on last night’s closing price of $24.62 and the company’s annualized dividend payout of 58 cents per share.

Hewlett-Packard Company (HPQ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

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