Eagle Asset Management Inc. Lowers Stock Position in HealthEquity, Inc. (NASDAQ:HQY)

Eagle Asset Management Inc. cut its holdings in HealthEquity, Inc. (NASDAQ:HQY) by 22.0% during the third quarter, Holdings Channel reports. The institutional investor owned 141,939 shares of the company’s stock after selling 39,999 shares during the quarter. Eagle Asset Management Inc.’s holdings in HealthEquity were worth $11,618,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HQY. International Assets Investment Management LLC purchased a new position in HealthEquity during the second quarter valued at $35,000. Paladin Wealth LLC bought a new position in shares of HealthEquity during the third quarter valued at $39,000. GAMMA Investing LLC increased its holdings in shares of HealthEquity by 114.8% during the second quarter. GAMMA Investing LLC now owns 595 shares of the company’s stock valued at $51,000 after acquiring an additional 318 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of HealthEquity in the 2nd quarter worth about $73,000. Finally, 1620 Investment Advisors Inc. bought a new position in HealthEquity in the 3rd quarter worth about $112,000. 99.55% of the stock is currently owned by institutional investors.

Insider Transactions at HealthEquity

In other news, Director Frank Corvino sold 1,247 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total value of $100,084.22. Following the completion of the sale, the director now directly owns 4,823 shares of the company’s stock, valued at $387,093.98. This represents a 20.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert W. Selander sold 8,250 shares of HealthEquity stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total transaction of $684,585.00. Following the transaction, the director now owns 54,719 shares in the company, valued at approximately $4,540,582.62. This trade represents a 13.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,536 shares of company stock worth $884,517 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on HQY shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. BTIG Research upped their price objective on HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. The Goldman Sachs Group initiated coverage on HealthEquity in a report on Friday, November 15th. They issued a “neutral” rating and a $108.00 target price for the company. Barrington Research reaffirmed an “outperform” rating and set a $105.00 price objective on shares of HealthEquity in a research report on Friday, September 20th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $105.00 price objective on shares of HealthEquity in a report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $107.23.

HealthEquity Price Performance

NASDAQ HQY opened at $104.25 on Friday. The company has a 50-day moving average price of $87.74 and a 200-day moving average price of $81.91. HealthEquity, Inc. has a 52 week low of $62.10 and a 52 week high of $105.73. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $9.10 billion, a P/E ratio of 86.88, a PEG ratio of 1.64 and a beta of 0.52.

HealthEquity (NASDAQ:HQY) last announced its earnings results on Tuesday, September 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.16. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. The company had revenue of $299.93 million during the quarter, compared to analyst estimates of $284.48 million. Equities research analysts anticipate that HealthEquity, Inc. will post 2.27 earnings per share for the current year.

About HealthEquity

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.