Invesco Ltd. Purchases 821,425 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Invesco Ltd. grew its position in shares of HealthEquity, Inc. (NASDAQ:HQY) by 50.6% in the first quarter, Holdings Channel reports. The fund owned 2,446,198 shares of the company’s stock after buying an additional 821,425 shares during the quarter. Invesco Ltd.’s holdings in HealthEquity were worth $216,171,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Townsquare Capital LLC boosted its position in shares of HealthEquity by 7.2% during the 1st quarter. Townsquare Capital LLC now owns 22,344 shares of the company’s stock valued at $1,975,000 after acquiring an additional 1,498 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of HealthEquity during the 1st quarter valued at approximately $1,990,000. Citigroup Inc. boosted its position in shares of HealthEquity by 5.3% during the 1st quarter. Citigroup Inc. now owns 194,286 shares of the company’s stock valued at $17,169,000 after acquiring an additional 9,798 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of HealthEquity by 9.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,166 shares of the company’s stock valued at $191,000 after acquiring an additional 192 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in HealthEquity in the first quarter worth $745,000. 99.55% of the stock is currently owned by institutional investors.

HealthEquity Trading Down 4.0%

Shares of HQY opened at $89.27 on Thursday. HealthEquity, Inc. has a 1-year low of $69.94 and a 1-year high of $116.65. The company has a 50-day moving average of $99.36 and a 200 day moving average of $97.59. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 65.16, a PEG ratio of 1.44 and a beta of 0.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.06 and a quick ratio of 4.06.

HealthEquity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.16. HealthEquity had a net margin of 9.80% and a return on equity of 11.01%. The company had revenue of $330.80 million during the quarter, compared to analyst estimates of $322.25 million. During the same quarter last year, the business posted $0.80 EPS. On average, research analysts expect that HealthEquity, Inc. will post 2.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HQY. Bank of America raised their price target on HealthEquity from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. The Goldman Sachs Group raised their price target on HealthEquity from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 4th. Barrington Research raised their price target on HealthEquity from $112.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, June 5th. Wall Street Zen upgraded HealthEquity from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $120.00 price target (up from $115.00) on shares of HealthEquity in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, HealthEquity currently has a consensus rating of “Buy” and an average price target of $118.55.

Insider Activity at HealthEquity

In related news, EVP Elimelech Rosner sold 58,000 shares of HealthEquity stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $112.56, for a total value of $6,528,480.00. Following the completion of the sale, the executive vice president directly owned 75,689 shares in the company, valued at $8,519,553.84. The trade was a 43.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jon Kessler sold 97,767 shares of HealthEquity stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $112.05, for a total value of $10,954,792.35. Following the completion of the sale, the director owned 75,000 shares of the company’s stock, valued at $8,403,750. The trade was a 56.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 291,744 shares of company stock worth $32,705,007 over the last three months. 1.50% of the stock is owned by corporate insiders.

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.