Raymond James Financial Inc. Buys New Holdings in HealthEquity, Inc. (NASDAQ:HQY)

Raymond James Financial Inc. acquired a new position in HealthEquity, Inc. (NASDAQ:HQY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 476,577 shares of the company’s stock, valued at approximately $45,728,000.

Other large investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI bought a new stake in HealthEquity in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC increased its stake in HealthEquity by 34.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 384 shares of the company’s stock worth $37,000 after acquiring an additional 98 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in HealthEquity in the 4th quarter worth approximately $39,000. UMB Bank n.a. increased its stake in HealthEquity by 65.6% in the 4th quarter. UMB Bank n.a. now owns 414 shares of the company’s stock worth $40,000 after acquiring an additional 164 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of HealthEquity by 50.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,115 shares of the company’s stock valued at $107,000 after purchasing an additional 375 shares during the last quarter. Institutional investors own 99.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HQY shares. Royal Bank of Canada boosted their target price on HealthEquity from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Mizuho started coverage on HealthEquity in a research report on Wednesday, December 4th. They set an “outperform” rating and a $126.00 target price on the stock. The Goldman Sachs Group started coverage on HealthEquity in a research report on Friday, November 15th. They set a “neutral” rating and a $108.00 target price on the stock. BTIG Research boosted their target price on HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Bank of America boosted their target price on HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.54.

HealthEquity Price Performance

HQY opened at $95.74 on Wednesday. The business has a fifty day moving average of $105.75 and a 200 day moving average of $94.80. HealthEquity, Inc. has a 52-week low of $65.01 and a 52-week high of $115.59. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.51. The stock has a market cap of $8.30 billion, a P/E ratio of 87.83, a PEG ratio of 1.60 and a beta of 0.62.

HealthEquity (NASDAQ:HQY) last issued its earnings results on Monday, December 9th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.12). HealthEquity had a return on equity of 9.70% and a net margin of 8.41%. During the same period in the previous year, the firm earned $0.40 earnings per share. As a group, sell-side analysts anticipate that HealthEquity, Inc. will post 2.32 EPS for the current year.

Insiders Place Their Bets

In other HealthEquity news, Director Stuart B. Parker sold 25,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $96.72, for a total value of $2,418,000.00. Following the completion of the sale, the director now directly owns 19,061 shares in the company, valued at approximately $1,843,579.92. This represents a 56.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Selander sold 5,750 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $111.29, for a total value of $639,917.50. Following the completion of the sale, the director now owns 78,219 shares of the company’s stock, valued at $8,704,992.51. This represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

HealthEquity Company Profile

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.