Envestnet Asset Management Inc. Has $1.53 Million Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Envestnet Asset Management Inc. boosted its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,896 shares of the business services provider’s stock after purchasing an additional 7,334 shares during the period. Envestnet Asset Management Inc. owned 0.21% of Healthcare Services Group worth $1,531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Healthcare Services Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 8,276,610 shares of the business services provider’s stock worth $96,133,000 after purchasing an additional 23,373 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Healthcare Services Group by 9.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,523,745 shares of the business services provider’s stock worth $29,313,000 after buying an additional 208,810 shares during the period. Palisade Capital Management LP grew its holdings in Healthcare Services Group by 0.9% during the 1st quarter. Palisade Capital Management LP now owns 2,237,866 shares of the business services provider’s stock worth $22,558,000 after acquiring an additional 20,720 shares during the last quarter. Janus Henderson Group PLC increased its position in Healthcare Services Group by 12.5% in the 4th quarter. Janus Henderson Group PLC now owns 1,266,785 shares of the business services provider’s stock valued at $14,714,000 after acquiring an additional 140,708 shares during the period. Finally, Foundry Partners LLC raised its stake in shares of Healthcare Services Group by 21.9% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Macquarie upgraded shares of Healthcare Services Group from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $15.00 to $16.00 in a report on Tuesday. Wall Street Zen downgraded Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 26th. UBS Group raised Healthcare Services Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $12.00 to $15.00 in a research note on Thursday, April 24th. Benchmark raised their price objective on Healthcare Services Group from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Robert W. Baird upped their target price on Healthcare Services Group from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.25.

Insiders Place Their Bets

In other Healthcare Services Group news, EVP John Christopher Shea sold 21,368 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $13.25, for a total value of $283,126.00. Following the transaction, the executive vice president directly owned 32,976 shares of the company’s stock, valued at approximately $436,932. The trade was a 39.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Healthcare Services Group Stock Down 2.8%

HCSG stock opened at $13.01 on Friday. The firm has a market cap of $942.05 million, a price-to-earnings ratio of 92.93 and a beta of 0.57. The company’s fifty day simple moving average is $14.17 and its 200 day simple moving average is $12.39. Healthcare Services Group, Inc. has a 12-month low of $9.13 and a 12-month high of $15.73.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $458.50 million during the quarter, compared to analyst estimates of $450.78 million. Healthcare Services Group had a return on equity of 11.74% and a net margin of 0.61%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted $0.20 EPS. Research analysts expect that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current 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.