Alliancebernstein L.P. Boosts Position in HealthEquity, Inc. $HQY

Key Points

• Alliancebernstein L.P. increased its stake in HealthEquity, Inc. by 20.6% to own approximately 0.25% of the company, valued at $19.2 million.
• Several analysts have upgraded HealthEquity’s stock price target, with Bank of America raising it from $110 to $125, suggesting strong market confidence in the company's growth.
• HealthEquity's stock is currently trading at $91.51, having experienced a 1.6% decline, with a market cap of $7.88 billion.

Alliancebernstein L.P. raised its stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 20.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 217,414 shares of the company's stock after buying an additional 37,068 shares during the quarter. Alliancebernstein L.P. owned about 0.25% of HealthEquity worth $19,213,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in shares of HealthEquity by 50.6% during the first quarter. Invesco Ltd. now owns 2,446,198 shares of the company's stock worth $216,171,000 after purchasing an additional 821,425 shares in the last quarter. Nuveen LLC purchased a new position in shares of HealthEquity during the first quarter worth about $53,076,000. Price T Rowe Associates Inc. MD grew its holdings in shares of HealthEquity by 995.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 639,345 shares of the company's stock worth $56,500,000 after purchasing an additional 580,988 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of HealthEquity during the first quarter worth about $49,787,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of HealthEquity by 148.1% during the first quarter. Ameriprise Financial Inc. now owns 669,939 shares of the company's stock worth $59,203,000 after purchasing an additional 399,897 shares in the last quarter. Hedge funds and other institutional investors own 99.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HQY shares. Bank of America boosted their price objective on HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Raymond James Financial restated a "strong-buy" rating and set a $120.00 price target (up previously from $115.00) on shares of HealthEquity in a research report on Tuesday, July 8th. Barrington Research restated an "outperform" rating and set a $125.00 price target on shares of HealthEquity in a research report on Friday, August 29th. JPMorgan Chase & Co. raised their price target on HealthEquity from $125.00 to $126.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, HealthEquity presently has an average rating of "Buy" and an average price target of $119.77.

HealthEquity Stock Down 1.6%

Shares of HQY opened at $91.51 on Thursday. The firm has a market cap of $7.88 billion, a P/E ratio of 55.46, a P/E/G ratio of 1.33 and a beta of 0.50. The stock has a 50 day simple moving average of $93.74 and a two-hundred day simple moving average of $94.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.23 and a quick ratio of 4.23. HealthEquity, Inc. has a 1 year low of $74.07 and a 1 year high of $116.65.

Insider Activity at HealthEquity

In other news, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity 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 transaction, the executive vice president owned 53,225 shares in the company, valued at approximately $5,414,579.25. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company's stock.

About HealthEquity

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.

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