Seven Eight Capital LP acquired a new position in shares of Healthequity Inc (NASDAQ:HQY) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 40,000 shares of the company’s stock, valued at approximately $3,776,000. Seven Eight Capital LP owned 0.06% of Healthequity as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Healthequity by 11.3% during the second quarter. BlackRock Inc. now owns 7,688,768 shares of the company’s stock worth $577,427,000 after acquiring an additional 777,915 shares during the period. FMR LLC grew its position in Healthequity by 26.5% in the 2nd quarter. FMR LLC now owns 3,410,542 shares of the company’s stock worth $256,132,000 after purchasing an additional 715,441 shares during the last quarter. Carillon Tower Advisers Inc. grew its position in Healthequity by 751.9% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 752,482 shares of the company’s stock worth $56,511,000 after purchasing an additional 664,157 shares during the last quarter. Northern Trust Corp grew its position in Healthequity by 4.6% in the 2nd quarter. Northern Trust Corp now owns 694,666 shares of the company’s stock worth $52,169,000 after purchasing an additional 30,581 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Healthequity by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 601,854 shares of the company’s stock worth $36,436,000 after purchasing an additional 65,324 shares during the last quarter. Hedge funds and other institutional investors own 96.61% of the company’s stock.
NASDAQ HQY opened at $86.92 on Friday. Healthequity Inc has a 52 week low of $42.92 and a 52 week high of $99.99. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 112.88, a PEG ratio of 3.02 and a beta of 1.47.
Healthequity (NASDAQ:HQY) last posted its quarterly earnings data on Tuesday, September 4th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.12. The business had revenue of $71.10 million during the quarter, compared to analysts’ expectations of $69.84 million. Healthequity had a net margin of 23.81% and a return on equity of 12.58%. The business’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. On average, sell-side analysts forecast that Healthequity Inc will post 0.87 earnings per share for the current year.
Several research firms have commented on HQY. BidaskClub cut shares of Healthequity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. Zacks Investment Research cut shares of Healthequity from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Oppenheimer upped their target price on shares of Healthequity from $85.00 to $104.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. Barrington Research restated an “outperform” rating and issued a $100.00 target price on shares of Healthequity in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Finally, Wells Fargo & Co upped their target price on shares of Healthequity from $84.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $93.08.
In other news, VP Darcy G. Mott sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $92.93, for a total value of $371,720.00. Following the completion of the transaction, the vice president now directly owns 96,100 shares in the company, valued at $8,930,573. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.00% of the company’s stock.
Healthequity Company Profile
HealthEquity, Inc provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States. The company offers healthcare saving and spending platform, a cloud-based platform for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.
Further Reading: Moving Average (MA)
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