Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One stock to keep an eye on is Maximus (MMS). MMS is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value. The stock is trading with a P/E ratio of 13.19, which compares to its industry's average of 13.98. Over the last 12 months, MMS's Forward P/E has been as high as 15.98 and as low as 11.84, with a median of 14.84.

Investors should also recognize that MMS has a P/B ratio of 2.54. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 2.76. MMS's P/B has been as high as 3.11 and as low as 2.28, with a median of 2.92, over the past year.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. MMS has a P/S ratio of 0.88. This compares to its industry's average P/S of 1.05.

Finally, investors will want to recognize that MMS has a P/CF ratio of 10.86. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. MMS's P/CF compares to its industry's average P/CF of 12.32. Over the past 52 weeks, MMS's P/CF has been as high as 15.79 and as low as 9.78, with a median of 13.13.

Value investors will likely look at more than just these metrics, but the above data helps show that Maximus is likely undervalued currently. And when considering the strength of its earnings outlook, MMS sticks out at as one of the market's strongest value stocks.

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