Ownership Submission
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

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HOLSTER ROBERT M
   2. Issuer Name and Ticker or Trading Symbol
HMS HOLDINGS CORP [HMSY] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CEO and Chairman of the Board
(Last)
(First)
(Middle)
401 PARK AVENUE SOUTH		 3. Date of Earliest Transaction (Month/Day/Year)
07/12/2007
(Street)

NEW YORK, NY 10016		 4. If Amendment, Date Original Filed(Month/Day/Year)
07/12/2007		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction 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 07/10/2007(1)(7)   M   20,000 A $ 1.19 77,314 D  
Common Stock 07/10/2007(1)(7)   S   20,000 D $ 19.39 57,314 D  
Common Stock               13,773 I Held in Trust for Son (2)
Common Stock               14,223 I Held in Trust for Son (3)
Common Stock               8,000 I Held by Spouse

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(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
Non-Qualified Stock Option (right to buy) $ 1.19 07/10/2007(1)(7)   M     20,000   (4) 03/30/2011 Common Stock 20,000 $ 19.39 520,000 D  
Incentive Stock Option (right to buy) $ 2.48               (5) 12/12/2011 Common Stock 75,000   75,000 D  
Incentive Stock Option (right to buy) $ 3.41               (5) 12/19/2012 Common Stock 51,611   51,611 D  
Non-Qualified Stock Option (right to buy) $ 3.41               (5) 12/19/2012 Common Stock 73,389   73,389 D  
Incentive Stock Option (right to buy) $ 2.92             11/04/2005 11/04/2013 Common Stock 33,333   33,333 D  
Non-Qualified Stock Option (right to buy) $ 2.92             11/04/2004 11/04/2013 Common Stock 66,667   66,667 D  
Incentive Stock Option (right to buy) $ 6.95 06/13/2007(7)   G     29,159   (5) 04/14/2015 Common Stock 29,159 $ 6.95 0 D  
Non-Qualified Stock Option (right to buy) $ 6.95 06/13/2007(7)   G(6)   29,159     (5) 04/14/2015 Common Stock 29,159 $ 6.95 29,159 I Held by spouse
Non-Qualified Stock Option (right to buy) $ 6.95 06/13/2007(7)   G     120,841   (5) 04/14/2015 Common Stock 120,841 $ 6.95 0 D  
Non-Qualified Stock Option (right to buy) $ 6.95 06/13/2007(7)   G(6)   120,841     (5) 04/14/2015 Common Stock 120,841 $ 6.95 120,841 I Held by spouse

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HOLSTER ROBERT M
401 PARK AVENUE SOUTH
NEW YORK, NY 10016		   X     CEO and Chairman of the Board  

Signatures

 Robert M. Holster   07/12/2007
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Transaction pursuant to 10b5-1 sales plan executed on March 5, 2007.
(2) Brett Holster, son of Robert, owns these shares. The reporting person disclaims beneficial ownership.
(3) Andrew Holster, son of Robert, owns these shares. The reporting person disclaims beneficial ownership.
(4) Options vest as follows: 100,000 vesting on first anniversary, and 75,000 at the end of each quarterly period thereafter.
(5) Options vest in 1/3 increments, with 1/3 vesting on grant date, and 1/3 vesting on each of the next two anniversary dates.
(6) Shares were gifted (Code G) to Carlotta D. Holster as trustee of the Robert M. Holster 2007 Family Trust. The filing individual disclaims beneficial ownership.
(7) This form is being amended to correct the date of the transactions.

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