Palisade Capital Management LLC NJ trimmed its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 504,803 shares of the business services provider’s stock after selling 27,254 shares during the period. Healthcare Services Group comprises 1.0% of Palisade Capital Management LLC NJ’s portfolio, making the stock its 16th largest position. Palisade Capital Management LLC NJ owned 0.69% of Healthcare Services Group worth $27,244,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Healthcare Services Group by 1.8% during the second quarter. Vanguard Group Inc. now owns 6,956,281 shares of the business services provider’s stock valued at $325,763,000 after buying an additional 123,503 shares during the period. Janus Henderson Group PLC increased its position in shares of Healthcare Services Group by 173.5% during the second quarter. Janus Henderson Group PLC now owns 2,085,372 shares of the business services provider’s stock valued at $97,658,000 after buying an additional 1,322,948 shares during the period. State Street Corp increased its position in shares of Healthcare Services Group by 4.3% during the second quarter. State Street Corp now owns 1,752,352 shares of the business services provider’s stock valued at $82,064,000 after buying an additional 71,873 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Healthcare Services Group by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,165,805 shares of the business services provider’s stock valued at $54,595,000 after buying an additional 27,427 shares during the period. Finally, Northern Trust Corp increased its position in shares of Healthcare Services Group by 2.3% during the second quarter. Northern Trust Corp now owns 1,127,536 shares of the business services provider’s stock valued at $52,803,000 after buying an additional 25,514 shares during the period. 91.37% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Tuesday, October 17th. The business services provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. Healthcare Services Group had a net margin of 5.00% and a return on equity of 24.17%. The business had revenue of $491.40 million during the quarter, compared to analyst estimates of $485.53 million. During the same quarter in the previous year, the business posted $0.27 EPS. The company’s quarterly revenue was up 25.1% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, November 17th will be issued a $0.19 dividend. The ex-dividend date is Thursday, November 16th. This represents a $0.76 annualized dividend and a dividend yield of 1.44%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s payout ratio is currently 63.03%.

In other news, Director John Briggs sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $50.75, for a total value of $126,875.00. Following the completion of the sale, the director now owns 18,579 shares in the company, valued at approximately $942,884.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.30% of the company’s stock.

Several brokerages recently issued reports on HCSG. Credit Suisse Group reiterated an “outperform” rating and set a $62.00 price target (up previously from $56.00) on shares of Healthcare Services Group in a research report on Friday. Jefferies Group LLC set a $52.00 price target on shares of Healthcare Services Group and gave the company a “hold” rating in a research report on Thursday, October 19th. Robert W. Baird reiterated a “buy” rating and set a $52.00 price target on shares of Healthcare Services Group in a research report on Wednesday, October 4th. Stifel Nicolaus reiterated a “buy” rating on shares of Healthcare Services Group in a research report on Thursday, October 19th. Finally, Zacks Investment Research upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Thursday, October 19th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.80.

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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.

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

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