American Century Companies Inc. Buys 14,303 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

American Century Companies Inc. raised its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 13.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,252 shares of the business services provider’s stock after purchasing an additional 14,303 shares during the period. American Century Companies Inc. owned 0.16% of Healthcare Services Group worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HCSG. Confluence Investment Management LLC bought a new stake in shares of Healthcare Services Group in the 1st quarter valued at about $2,259,000. Vanguard Group Inc. boosted its stake in Healthcare Services Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 8,629,517 shares of the business services provider’s stock valued at $89,488,000 after acquiring an additional 167,779 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in Healthcare Services Group in the first quarter worth $3,765,000. Invenomic Capital Management LP acquired a new position in shares of Healthcare Services Group during the fourth quarter worth $4,216,000. Finally, Azarias Capital Management L.P. lifted its holdings in shares of Healthcare Services Group by 50.7% during the 2nd quarter. Azarias Capital Management L.P. now owns 1,226,773 shares of the business services provider’s stock valued at $12,979,000 after purchasing an additional 412,704 shares during the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HCSG shares. Robert W. Baird boosted their target price on Healthcare Services Group from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Royal Bank of Canada cut their price objective on shares of Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Benchmark reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Healthcare Services Group currently has a consensus rating of “Hold” and a consensus price target of $14.50.

Healthcare Services Group Price Performance

Shares of Healthcare Services Group stock opened at $11.17 on Tuesday. The stock has a market cap of $822.63 million, a PE ratio of 19.60 and a beta of 0.53. The firm has a fifty day moving average price of $10.92 and a 200 day moving average price of $11.12. Healthcare Services Group, Inc. has a 1 year low of $8.75 and a 1 year high of $13.00.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The business had revenue of $426.30 million during the quarter, compared to analysts’ expectations of $424.94 million. Healthcare Services Group had a return on equity of 12.58% and a net margin of 1.82%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 EPS. As a group, equities analysts expect that Healthcare Services Group, Inc. will post 0.78 EPS 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.