Wells Fargo & Company MN Increases Stock Holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Wells Fargo & Company MN raised its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 21.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,175 shares of the business services provider’s stock after purchasing an additional 8,594 shares during the quarter. Wells Fargo & Company MN owned approximately 0.07% of Healthcare Services Group worth $571,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Integrated Quantitative Investments LLC purchased a new position in shares of Healthcare Services Group during the fourth quarter valued at about $824,000. Foundry Partners LLC boosted its position in Healthcare Services Group by 21.9% during the 4th quarter. Foundry Partners LLC now owns 984,033 shares of the business services provider’s stock valued at $11,430,000 after acquiring an additional 177,002 shares in the last quarter. ExodusPoint Capital Management LP grew its holdings in shares of Healthcare Services Group by 12.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 98,293 shares of the business services provider’s stock worth $1,142,000 after acquiring an additional 10,737 shares during the period. National Bank of Canada FI grew its holdings in shares of Healthcare Services Group by 22.2% during the 4th quarter. National Bank of Canada FI now owns 25,514 shares of the business services provider’s stock worth $296,000 after acquiring an additional 4,637 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Healthcare Services Group by 41.7% in the 4th 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 in the last quarter. 97.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Robert W. Baird upped their price target on Healthcare Services Group from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Macquarie upped their target price on shares of Healthcare Services Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. StockNews.com upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Finally, UBS Group raised shares of Healthcare Services Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $15.00 in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.80.

Healthcare Services Group Price Performance

Shares of NASDAQ:HCSG opened at $14.78 on Friday. The company has a market capitalization of $1.08 billion, a PE ratio of 27.37 and a beta of 0.62. The business has a fifty day moving average price of $10.82 and a 200-day moving average price of $11.26. Healthcare Services Group, Inc. has a 1-year low of $9.13 and a 1-year high of $14.80.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share for the quarter, beating 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%. Healthcare Services Group’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $0.22 EPS. On average, sell-side analysts anticipate that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal year.

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.