Bank of New York Mellon Corp Invests $60.18 Million in HealthEquity, Inc. $HQY

Bank of New York Mellon Corp acquired a new position in shares of HealthEquity, Inc. (NASDAQ:HQY) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 666,260 shares of the company’s stock, valued at approximately $60,177,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC bought a new stake in shares of HealthEquity in the second quarter valued at about $306,000. Arrowstreet Capital Limited Partnership bought a new position in HealthEquity in the second quarter valued at approximately $4,747,000. Marshall Wace LLP bought a new position in shares of HealthEquity in the 2nd quarter valued at about $5,483,000. Amundi increased its stake in shares of HealthEquity by 9.3% during the 2nd quarter. Amundi now owns 30,203 shares of the company’s stock worth $3,059,000 after purchasing an additional 2,574 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of HealthEquity in the 2nd quarter valued at about $449,000. 99.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen upgraded HealthEquity from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. BTIG Research upped their price target on HealthEquity from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Citizens Jmp boosted their price objective on HealthEquity from $110.00 to $111.00 and gave the company a “market outperform” rating in a report on Monday, June 1st. Citigroup reiterated a “market outperform” rating on shares of HealthEquity in a report on Monday, June 1st. Finally, Wells Fargo & Company set a $111.00 target price on HealthEquity in a research report on Monday, June 1st. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, HealthEquity has a consensus rating of “Moderate Buy” and a consensus price target of $110.93.

HealthEquity Trading Down 0.9%

NASDAQ:HQY opened at $104.42 on Thursday. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 39.11, a PEG ratio of 1.77 and a beta of 0.21. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average price is $97.77 and its 200-day moving average price is $87.71. HealthEquity, Inc. has a 52 week low of $72.76 and a 52 week high of $107.62.

HealthEquity (NASDAQ:HQY) last issued its earnings results on Thursday, May 28th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.13. The company had revenue of $354.64 million for the quarter, compared to analysts’ expectations of $352.02 million. HealthEquity had a net margin of 17.25% and a return on equity of 14.75%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that HealthEquity, Inc. will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling at HealthEquity

In other news, EVP Michael Henry Fiore sold 3,142 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $95.00, for a total value of $298,490.00. Following the transaction, the executive vice president directly owned 59,113 shares in the company, valued at $5,615,735. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 7,966 shares of company stock worth $756,770. 1.60% of the stock is owned by corporate insiders.

About HealthEquity

HealthEquity, Inc (NASDAQ: HQY) is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.