Geneva Capital Management LLC Sells 5,149 Shares of 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 cut its stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,043,754 shares of the company's stock after selling 5,149 shares during the period. HealthEquity makes up approximately 1.7% of Geneva Capital Management LLC's investment portfolio, making the stock its 18th largest holding. Geneva Capital Management LLC owned about 1.21% of HealthEquity worth $92,237,000 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 HQY. Wealth Enhancement Advisory Services LLC increased its holdings in 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. raised 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 valued at $2,179,000 after buying an additional 24,350 shares during the last quarter. GAMMA Investing LLC boosted its position in 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 last quarter. Wells Fargo & Company MN grew its stake 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 in the last quarter. Finally, WCM Investment Management LLC acquired a new stake in shares of HealthEquity in the first quarter valued at approximately $20,230,000. Institutional investors own 99.55% of the company's stock.

Insider Activity

In other news, Director Jon Kessler sold 97,767 shares of HealthEquity stock in a transaction on Friday, June 6th. The stock was sold at an average price of $112.05, for a total value of $10,954,792.35. Following the completion of the transaction, the director directly owned 75,000 shares in the company, valued at approximately $8,403,750. The trade was a 56.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elimelech Rosner sold 58,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 75,689 shares in the company, valued at approximately $8,519,553.84. The trade was a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 291,744 shares of company stock worth $32,705,007 in the last three months. Company insiders own 1.50% of the company's stock.

HealthEquity Trading Down 0.1%

NASDAQ:HQY traded down $0.06 on Wednesday, reaching $90.95. 1,277,457 shares of the stock traded hands, compared to its average volume of 904,568. The company's 50 day moving average is $100.81 and its 200-day moving average is $98.09. 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 $67.32 and a 1-year high of $116.65. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 66.39, a price-to-earnings-growth ratio of 1.41 and a beta of 0.54.

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

Analysts Set New Price Targets

Several brokerages have issued reports on HQY. JMP Securities lifted their price target on shares of HealthEquity from $110.00 to $117.00 and gave the company a "market outperform" rating in a research note on Wednesday, June 4th. Barrington Research boosted their target price on shares of HealthEquity from $112.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. The Goldman Sachs Group increased their price target on shares of HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft lifted their price target on HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Finally, KeyCorp cut their price objective on HealthEquity from $110.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target 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.