Envestnet Asset Management Inc. Purchases 6,303 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Envestnet Asset Management Inc. raised its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 4.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 144,562 shares of the business services provider’s stock after purchasing an additional 6,303 shares during the quarter. Envestnet Asset Management Inc. owned 0.20% of Healthcare Services Group worth $1,679,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealthfront Advisers LLC bought a new stake in shares of Healthcare Services Group in the fourth quarter worth approximately $166,278,000. Vanguard Group Inc. grew its stake in shares of Healthcare Services Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 8,276,610 shares of the business services provider’s stock worth $96,133,000 after acquiring an additional 23,373 shares during the period. Royce & Associates LP grew its stake in shares of Healthcare Services Group by 4.9% in the fourth quarter. Royce & Associates LP now owns 4,668,599 shares of the business services provider’s stock worth $54,226,000 after acquiring an additional 219,103 shares during the period. Foundry Partners LLC grew its stake in shares of Healthcare Services Group by 21.9% in the fourth quarter. Foundry Partners LLC now owns 984,033 shares of the business services provider’s stock worth $11,430,000 after acquiring an additional 177,002 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Healthcare Services Group by 41.7% in the fourth quarter. Franklin Resources Inc. now owns 794,613 shares of the business services provider’s stock worth $9,229,000 after acquiring an additional 234,025 shares during the period. 97.97% of the stock is currently owned by institutional investors.

Healthcare Services Group Trading Up 0.9 %

Shares of NASDAQ HCSG opened at $13.79 on Tuesday. The firm has a 50 day moving average of $10.52 and a 200 day moving average of $11.16. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 25.54 and a beta of 0.62. Healthcare Services Group, Inc. has a 12-month low of $9.13 and a 12-month high of $13.90.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. The business had revenue of $447.66 million during the quarter, compared to analyst estimates of $443.82 million. Healthcare Services Group had a net margin of 2.30% and a return on equity of 11.76%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. Sell-side analysts predict that Healthcare Services Group, Inc. will post 0.74 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on HCSG shares. Macquarie lifted their price target on shares of Healthcare Services Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday. StockNews.com upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Friday. UBS Group upgraded shares of Healthcare Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $12.00 to $15.00 in a research report on Thursday, April 24th. Finally, Robert W. Baird boosted their target price on shares of Healthcare Services Group from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.80.

About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.