HealthEquity Inc. (HQY) Position Boosted by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System increased its position in shares of HealthEquity Inc. (NASDAQ:HQY) by 54.9% during the second quarter, Holdings Channel reports. The firm owned 19,119 shares of the company’s stock after buying an additional 6,780 shares during the period. State Board of Administration of Florida Retirement System’s holdings in HealthEquity were worth $581,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. FCM Investments TX increased its stake in HealthEquity by 59.0% in the second quarter. FCM Investments TX now owns 99,701 shares of the company’s stock worth $3,029,000 after buying an additional 37,001 shares during the period. Capstone Asset Management Co. increased its stake in HealthEquity by 4.7% in the second quarter. Capstone Asset Management Co. now owns 10,700 shares of the company’s stock worth $325,000 after buying an additional 480 shares during the period. BNP Paribas Arbitrage SA increased its stake in HealthEquity by 0.7% in the second quarter. BNP Paribas Arbitrage SA now owns 44,898 shares of the company’s stock worth $1,364,000 after buying an additional 321 shares during the period. Tiverton Asset Management LLC purchased a new stake in HealthEquity during the first quarter worth $962,000. Finally, JPMorgan Chase & Co. increased its stake in HealthEquity by 16.8% in the first quarter. JPMorgan Chase & Co. now owns 490,214 shares of the company’s stock worth $12,094,000 after buying an additional 70,607 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.
Shares of HealthEquity Inc. (NASDAQ:HQY) traded down 1.19% during mid-day trading on Tuesday, hitting $37.42. The stock had a trading volume of 153,946 shares. The stock has a market capitalization of $2.19 billion, a P/E ratio of 95.95 and a beta of 1.61. HealthEquity Inc. has a 52 week low of $15.80 and a 52 week high of $38.23. The stock has a 50 day moving average of $33.57 and a 200-day moving average of $28.67.
HealthEquity (NASDAQ:HQY) last posted its quarterly earnings data on Tuesday, September 6th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The company earned $44.20 million during the quarter. HealthEquity had a return on equity of 10.89% and a net margin of 15.21%. The firm’s quarterly revenue was up 44.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 earnings per share. On average, equities research analysts predict that HealthEquity Inc. will post $0.51 earnings per share for the current year.
A number of brokerages recently weighed in on HQY. SunTrust Banks Inc. reissued a “buy” rating on shares of HealthEquity in a research note on Thursday, September 8th. Zacks Investment Research raised HealthEquity from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Thursday, September 8th. Leerink Swann reissued an “outperform” rating and issued a $33.00 price objective (up from $30.00) on shares of HealthEquity in a research note on Wednesday, June 8th. Robert W. Baird raised their price objective on HealthEquity from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, September 7th. Finally, Barrington Research raised their price objective on HealthEquity from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, September 8th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $36.00.
In other news, VP Darcy G. Mott sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $30.23, for a total transaction of $302,300.00. Following the completion of the transaction, the vice president now directly owns 76,000 shares of the company’s stock, valued at $2,297,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Neeleman sold 9,898 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $30.28, for a total value of $299,711.44. Following the transaction, the insider now directly owns 9,898 shares of the company’s stock, valued at $299,711.44. The disclosure for this sale can be found here. Insiders own 29.00% of the company’s stock.
HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.
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