Geneva Capital Management LLC Has $92.24 Million Stock Holdings in HealthEquity, Inc. (NASDAQ:HQY)

Key Points

• Geneva Capital Management LLC reduced its stake in HealthEquity, Inc. by 0.5%, selling 5,149 shares, and now holds approximately 1,043,754 shares valued at around $92.24 million.
• HealthEquity reported a better-than-expected earnings per share of $0.97 for the last quarter, surpassing analysts' estimates of $0.81, with total revenues reaching $330.80 million.
• Multiple brokerages have raised their price targets for HealthEquity, with Barrington Research increasing it from $112.00 to $125.00, while the average target price currently stands at $118.55.

Geneva Capital Management LLC lessened its holdings in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,043,754 shares of the company's stock after selling 5,149 shares during the period. HealthEquity comprises 1.7% of Geneva Capital Management LLC's holdings, making the stock its 18th largest holding. Geneva Capital Management LLC owned 1.21% of HealthEquity worth $92,237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of HealthEquity by 24.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,380 shares of the company's stock worth $564,000 after purchasing an additional 1,265 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of HealthEquity by 7,983.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,655 shares of the company's stock worth $2,179,000 after acquiring an additional 24,350 shares during the period. GAMMA Investing LLC lifted its holdings in shares of HealthEquity by 25.9% during the 1st quarter. GAMMA Investing LLC now owns 1,571 shares of the company's stock worth $139,000 after acquiring an additional 323 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of HealthEquity by 4.7% during the 4th quarter. Wells Fargo & Company MN now owns 124,940 shares of the company's stock worth $11,988,000 after acquiring an additional 5,594 shares during the period. Finally, WCM Investment Management LLC bought a new stake in shares of HealthEquity during the 1st quarter worth approximately $20,230,000. Institutional investors and hedge funds own 99.55% of the company's stock.

Insider Buying and Selling at HealthEquity

In other HealthEquity news, Director Jon Kessler sold 134,183 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $112.08, for a total value of $15,039,230.64. Following the completion of the transaction, the director directly owned 253,510 shares in the company, valued at approximately $28,413,400.80. This represents a 34.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Elimelech Rosner sold 58,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $112.56, for a total transaction of $6,528,480.00. Following the sale, the executive vice president owned 75,689 shares of the company's stock, valued at approximately $8,519,553.84. This trade represents a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 291,744 shares of company stock worth $32,705,007. 1.50% of the stock is currently owned by company insiders.

HealthEquity Trading Up 1.6%

NASDAQ HQY traded up $1.49 on Friday, hitting $93.33. The company's stock had a trading volume of 334,785 shares, compared to its average volume of 1,015,096. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.50. HealthEquity, Inc. has a 1-year low of $69.52 and a 1-year high of $116.65. The company's 50-day moving average is $100.42 and its 200 day moving average is $97.96. The firm has a market cap of $8.07 billion, a PE ratio of 68.09, a PEG ratio of 1.41 and a beta of 0.54.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.16. HealthEquity had a net margin of 9.80% and a return on equity of 11.01%. The firm had revenue of $330.80 million during the quarter, compared to analysts' expectations of $322.25 million. During the same period in the prior year, the company posted $0.80 EPS. As a group, analysts predict that HealthEquity, Inc. will post 2.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HQY. Bank of America upped their price target on shares of HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $120.00 price target (up previously from $115.00) on shares of HealthEquity in a report on Tuesday, July 8th. KeyCorp cut their price target on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. 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 report on Wednesday, June 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $118.55.

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.