Assetmark Inc. Boosts Stock Holdings in HealthEquity, Inc. (NASDAQ:HQY)

Assetmark Inc. grew its position in HealthEquity, Inc. (NASDAQ:HQY) by 25.2% during the first quarter, Holdings Channel reports. The institutional investor owned 5,886 shares of the company’s stock after acquiring an additional 1,184 shares during the quarter. Assetmark Inc.’s holdings in HealthEquity were worth $520,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. purchased a new position in shares of HealthEquity during the 4th quarter valued at approximately $78,107,000. Raymond James Financial Inc. purchased a new stake in HealthEquity during the fourth quarter worth about $45,728,000. Iron Triangle Partners LP purchased a new stake in shares of HealthEquity during the fourth quarter worth approximately $32,202,000. WCM Investment Management LLC purchased a new stake in shares of HealthEquity during the first quarter worth approximately $20,230,000. Finally, Brown Advisory Inc. boosted its holdings in HealthEquity by 12.0% in the fourth quarter. Brown Advisory Inc. now owns 2,086,026 shares of the company’s stock valued at $200,154,000 after purchasing an additional 224,016 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HQY has been the subject of several research reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $120.00 price target (up previously from $115.00) on shares of HealthEquity in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of HealthEquity from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Royal Bank Of Canada lifted their price objective on shares of HealthEquity from $112.00 to $117.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. Bank of America lifted their price objective on shares of HealthEquity from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Finally, JMP Securities lifted their price objective on shares of HealthEquity from $110.00 to $117.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 4th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $118.55.

Insider Activity

In other news, EVP Michael Henry Fiore sold 1,794 shares of the firm’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $101.73, for a total value of $182,503.62. Following the completion of the transaction, the executive vice president owned 53,225 shares in the company, valued at $5,414,579.25. This trade represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jon Kessler sold 134,183 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $112.08, for a total value of $15,039,230.64. Following the completion of the transaction, the director owned 253,510 shares of the company’s stock, valued at approximately $28,413,400.80. This represents a 34.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 291,744 shares of company stock worth $32,705,007 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

HealthEquity Price Performance

HealthEquity stock opened at $91.06 on Friday. HealthEquity, Inc. has a one year low of $65.01 and a one year high of $116.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.06 and a current ratio of 4.06. The business has a fifty day moving average of $101.17 and a two-hundred day moving average of $98.25. The company has a market cap of $7.87 billion, a P/E ratio of 66.47, a price-to-earnings-growth ratio of 1.50 and a beta of 0.54.

HealthEquity (NASDAQ:HQY) last released its earnings results on Tuesday, June 3rd. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.16. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%. The company had revenue of $330.80 million during the quarter, compared to the consensus estimate of $322.25 million. During the same quarter last year, the company earned $0.80 earnings per share. As a group, analysts predict that HealthEquity, Inc. will post 2.32 earnings per share for the current fiscal year.

HealthEquity 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.