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 *
LUCIA WILLIAM C
  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)
President and COO
(Last)
(First)
(Middle)
401 PARK AVENUE SOUTH
3. Date of Earliest Transaction (Month/Day/Year)
09/12/2007
(Street)

NEW YORK, NY 10016
4. If Amendment, Date Original Filed(Month/Day/Year)
09/13/2007
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 09/12/2007(1)   M   6,666 A $ 1.74 13,360 D  
Common Stock 09/12/2007(1)   S   6,666 D $ 25.75 6,694 D  
Common Stock 09/12/2007(1)   M   834 A $ 2.92 34,166 D  
Common Stock 09/12/2007(1)   S   834 D $ 25.75 33,332 D  

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
Incentive Stock Option (right to buy) $ 2.92               (2) 11/04/2013 Common Stock 16,668   16,668 D  
Incentive Stock Option (right to buy) $ 3.41               (2) 12/19/2012 Common Stock 29,754   29,754 D  
Incentive Stock Option (right to buy) $ 6.32             11/24/2000 11/24/2007 Common Stock 7,500   7,500 D  
Incentive Stock Option (right to buy) $ 6.44             11/13/2003 11/13/2008 Common Stock 18,527   18,527 D  
Non-Qualified Stock Option (right to buy) $ 2.48               (2) 12/12/2011 Common Stock 11,666   11,666 D  
Non-Qualified Stock Option (right to buy) $ 3.41               (2) 12/19/2012 Common Stock 70,246   70,246 D  
Non-Qualified Stock Option (right to buy) $ 6.44             11/13/2003 11/13/2008 Common Stock 11,473   11,473 D  
Incentive Stock Option (right to buy) $ 6.95               (2) 04/14/2015 Common Stock 36,162   36,162 D  
Non-Qualified Stock Option (right to buy) $ 6.95               (2) 04/14/2015 Common Stock 88,838   88,838 D  
Incentive Stock Option (right to buy) $ 9.44               (3) 05/04/2016 Common Stock 31,779   31,779 D  
Non-Qualified Stock Option (right to buy) $ 9.44               (3) 05/04/2016 Common Stock 50,886   50,886 D  
Non-Qualified Stock Option (right to buy) $ 10.98               (3) 06/26/2016 Common Stock 117,335   117,335 D  
Incentive Stock Option (right to buy) $ 2.48               (2) 12/12/2011 Common Stock 11,668   11,668 D  
Non-Qualified Stock Option (right to buy) $ 1.74 09/12/2007   M     6,666 07/31/2001 07/31/2011 Common Stock 6,666 $ 25.75 0 D  
Non-Qualified Stock Option (right to buy) $ 2.92 09/12/2007   M     834   (2) 11/04/2013 Common Stock 834 $ 25.75 32,498 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LUCIA WILLIAM C
401 PARK AVENUE SOUTH
NEW YORK, NY 10016
      President and COO  

Signatures

 William C. Lucia   09/17/2007
**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) This transaction pursuant to 10b5-1 Sales Plan.
(2) Options will vest in 1/3 increments, with 1/3 vesting on the grant date and 1/3 vesting on each of the next two anniversary dates.
(3) Options will vest in 25% increments, with 1/4 vesting on each anniversary date beginning on the first anniversary.

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