Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * Sherman Jeffrey Scott	2. Issuer Name and Ticker or Trading Symbol HMS HOLDINGS CORP [ HMSY ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                      _____ 10% Owner __ X __ Officer (give title below)      _____ Other (specify below) EVP, CFO, and Treasurer
(Last)          (First)          (Middle) 5615 HIGH POINT DRIVE	3. Date of Earliest Transaction (MM/DD/YYYY) 2/26/2019
(Street) IRVING, TX 75038 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	2/26/2019		M		50209.0000	A	$20.7100	218253.0000	D
Common Stock	2/26/2019		M		22247.0000	A	$21.6300	240500.0000	D
Common Stock	2/26/2019		M		21801.0000	A	$11.2000	262301.0000	D
Common Stock	2/26/2019		S		94257.0000	D	$34.5600   (1)	168044.0000	D
Common Stock	2/27/2019		M		78199.0000	A	$11.2000	246243.0000	D
Common Stock	2/27/2019		M		18306.0000	A	$14.0000	264549.0000	D
Common Stock	2/27/2019		S		96505.0000	D	$34.5600   (2)	168044.0000	D
Common Stock	2/28/2019		M		77664.0000	A	$14.0000	245708.0000	D
Common Stock	2/28/2019		S		77664.0000	D	$34.5400   (3)	168044.0000	D
Common Stock								10760.0000	I	By Family Trust

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Nonqualified Stock Option (Right to Buy)	$20.7100	2/26/2019		M			50209.0000	(4)	9/8/2021	Common Stock	50209.0000	$0.0000	0.0000	D
Nonqualified Stock Option (Right to Buy)	$11.2000	2/26/2019		M			21801.0000	(5)	11/10/2022	Common Stock	21801.0000	$0.0000	78199.0000	D
Nonqualified Stock Option (Right to Buy)	$21.6300	2/26/2019		M			22247.0000	(6)	11/11/2021	Common Stock	22247.0000	$0.0000	0.0000	D
Nonqualified Stock Option (Right to Buy)	$14.0000	2/27/2019		M			18306.0000	(5)	11/10/2022	Common Stock	18306.0000	$0.0000	81694.0000	D
Nonqualified Stock Option (Right to Buy)	$11.2000	2/27/2019		M			78199.0000	(5)	11/10/2022	Common Stock	78199.0000	$0.0000	0.0000	D
Nonqualified Stock Option (Right to Buy)	$14.0000	2/28/2019		M			77664.0000	(5)	11/10/2022	Common Stock	77664.0000	$0.0000	4030.0000	D

Explanation of Responses:
(1)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.40 to $35.00, inclusive. The reporting person undertakes to provide to HMS Holdings Corp., any security holder of HMS Holdings Corp., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1), (2) and (3) to this Form 4.
(2)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.39 to $35.00, inclusive.
(3)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.14 to $34.87, inclusive.
(4)	The option vested in four equal installments on September 8, 2015, 2016, 2017 and 2018.
(5)	The option vested in three equal installments on November 11, 2016, 2017 and 2018.
(6)	One-half of the option vested in three equal installments on November 12, 2015, 2016 and 2017. The other one-half of the option was cancelled due to non-satisfaction of certain performance conditions.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Sherman Jeffrey Scott 5615 HIGH POINT DRIVE IRVING, TX 75038			EVP, CFO, and Treasurer

Signatures
Kimberly J. Day, as Attorney-in-Fact for Jeffrey S. Sherman		2/28/2019
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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