Glenmede Trust Co. NA Takes $170,000 Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Glenmede Trust Co. NA bought a new stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,253 shares of the business services provider’s stock, valued at approximately $170,000.

A number of other large investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its stake in Healthcare Services Group by 804.0% during the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock worth $30,000 after acquiring an additional 2,428 shares in the last quarter. Headlands Technologies LLC boosted its stake in Healthcare Services Group by 44.4% during the second quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock worth $33,000 after acquiring an additional 955 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in Healthcare Services Group by 85.7% during the third quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock worth $91,000 after acquiring an additional 3,774 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in Healthcare Services Group during the third quarter worth about $116,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in Healthcare Services Group during the second quarter worth about $124,000. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

Shares of Healthcare Services Group stock opened at $12.42 on Friday. The stock has a market capitalization of $910.27 million, a PE ratio of 18.00 and a beta of 0.55. Healthcare Services Group, Inc. has a 52-week low of $8.98 and a 52-week high of $13.00. The company has a 50-day simple moving average of $11.24 and a two-hundred day simple moving average of $10.97.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. Healthcare Services Group had a net margin of 2.95% and a return on equity of 12.59%. The firm had revenue of $428.10 million during the quarter, compared to analysts’ expectations of $429.95 million. During the same period in the previous year, the company earned $0.17 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Healthcare Services Group, Inc. will post 0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HCSG. Benchmark reissued a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a research note on Thursday, October 24th. StockNews.com raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, Robert W. Baird decreased their target price on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Healthcare Services Group has an average rating of “Moderate Buy” and a consensus price target of $14.00.

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 nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.