Alberta Investment Management Corp Buys 51,414 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Key Points

• Alberta Investment Management Corp increased its holdings in HealthEquity, Inc. by 416.4%, owning 63,760 shares worth approximately $5.63 million as of the most recent filing.
• HealthEquity reported earnings of $0.97 per share for the last quarter, exceeding analyst expectations of $0.81 and showing a year-over-year increase from $0.80.
• The stock's consensus rating is a "Buy" with a target price of $118.55 after recent upgrades from several research firms.

Alberta Investment Management Corp raised its position in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 416.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,760 shares of the company's stock after buying an additional 51,414 shares during the period. Alberta Investment Management Corp owned approximately 0.07% of HealthEquity worth $5,634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of HealthEquity by 24.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,380 shares of the company's stock valued at $564,000 after acquiring an additional 1,265 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in HealthEquity by 7,983.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,655 shares of the company's stock worth $2,179,000 after purchasing an additional 24,350 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of HealthEquity by 25.9% in the first quarter. GAMMA Investing LLC now owns 1,571 shares of the company's stock valued at $139,000 after purchasing an additional 323 shares during the period. Wells Fargo & Company MN raised its holdings in shares of HealthEquity by 4.7% during the fourth quarter. Wells Fargo & Company MN now owns 124,940 shares of the company's stock valued at $11,988,000 after buying an additional 5,594 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new position in shares of HealthEquity during the first quarter worth approximately $20,230,000. 99.55% of the stock is owned by hedge funds and other institutional investors.

HealthEquity Stock Up 0.1%

NASDAQ:HQY traded up $0.09 on Monday, hitting $91.15. 1,038,106 shares of the company's stock traded hands, compared to its average volume of 879,453. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 0.50. HealthEquity, Inc. has a 1 year low of $65.01 and a 1 year high of $116.65. The firm has a 50-day moving average price of $101.17 and a 200-day moving average price of $98.22. The company has a market cap of $7.88 billion, a PE ratio of 66.53, a price-to-earnings-growth ratio of 1.41 and a beta of 0.54.

HealthEquity (NASDAQ:HQY - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $322.25 million. During the same quarter in the prior year, the firm earned $0.80 EPS. Equities analysts anticipate that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of the business's stock in a transaction dated 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 sale, the executive vice president owned 53,225 shares of the company's stock, valued at $5,414,579.25. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jon Kessler sold 97,767 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $112.05, for a total transaction of $10,954,792.35. Following the transaction, the director directly owned 75,000 shares of the company's stock, valued at approximately $8,403,750. This represents a 56.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 291,744 shares of company stock valued at $32,705,007 over the last quarter. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HQY. Wall Street Zen raised HealthEquity from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Barrington Research increased their price objective on HealthEquity from $112.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Royal Bank Of Canada upped their price target on shares of HealthEquity from $112.00 to $117.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. KeyCorp dropped their target price on HealthEquity from $110.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group upped their price target on shares of HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. One research 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. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $118.55.

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.