State of Wisconsin Investment Board lowered its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 7.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 178,734 shares of the business services provider’s stock after selling 15,000 shares during the period. State of Wisconsin Investment Board owned about 0.24% of Healthcare Services Group worth $8,370,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Miles Capital Inc. boosted its position in Healthcare Services Group by 0.3% in the first quarter. Miles Capital Inc. now owns 6,881 shares of the business services provider’s stock valued at $297,000 after buying an additional 20 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Healthcare Services Group by 1.6% in the second quarter. Teacher Retirement System of Texas now owns 5,809 shares of the business services provider’s stock worth $272,000 after buying an additional 94 shares in the last quarter. Ashford Capital Management Inc. raised its stake in shares of Healthcare Services Group by 0.3% in the first quarter. Ashford Capital Management Inc. now owns 28,398 shares of the business services provider’s stock worth $1,224,000 after buying an additional 95 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of Healthcare Services Group by 1.0% in the second quarter. TD Asset Management Inc. now owns 10,483 shares of the business services provider’s stock worth $491,000 after buying an additional 100 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Healthcare Services Group by 0.3% in the second quarter. Arizona State Retirement System now owns 38,045 shares of the business services provider’s stock worth $1,782,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) opened at 50.95 on Friday. Healthcare Services Group, Inc. has a 12 month low of $34.83 and a 12 month high of $54.28. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 44.69 and a beta of 0.61. The company has a 50-day moving average price of $51.52 and a 200-day moving average price of $46.46.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Tuesday, July 11th. The business services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. Healthcare Services Group had a return on equity of 24.12% and a net margin of 5.07%. The firm had revenue of $470.90 million for the quarter, compared to analysts’ expectations of $425.24 million. During the same period in the previous year, the firm posted $0.26 EPS. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. Analysts forecast that Healthcare Services Group, Inc. will post $1.25 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 18th will be given a $0.1888 dividend. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, August 16th. Healthcare Services Group’s payout ratio is currently 65.22%.

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HCSG has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on Healthcare Services Group from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Credit Suisse Group initiated coverage on Healthcare Services Group in a research report on Friday, May 19th. They issued an “outperform” rating and a $50.00 target price on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $49.00 target price (up previously from $41.00) on shares of Healthcare Services Group in a research report on Tuesday, June 6th. Robert W. Baird lifted their target price on Healthcare Services Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, July 12th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Friday, July 14th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $53.00.

In other news, CFO John Christopher Shea sold 4,750 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $52.00, for a total value of $247,000.00. Following the sale, the chief financial officer now directly owns 7,157 shares of the company’s stock, valued at approximately $372,164. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Briggs sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $47.52, for a total value of $118,800.00. Following the completion of the transaction, the director now directly owns 22,017 shares in the company, valued at $1,046,247.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,235 shares of company stock worth $2,494,065. Insiders own 4.30% of the company’s stock.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

Institutional Ownership by Quarter for Healthcare Services Group (NASDAQ:HCSG)

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