Connor Clark & Lunn Investment Management Ltd. Has $2 Million Stock Position in HealthEquity, Inc. (NASDAQ:HQY)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its stake in HealthEquity, Inc. by 60.6%, now owning 22,633 shares valued at $2 million.
• Directors Jon Kessler and Elimelech Rosner sold significant portions of their shares, leading to a 34.61% and 43.38% decrease in their holdings respectively.
• HealthEquity reported better-than-expected quarterly earnings with an EPS of $0.97, surpassing estimates by $0.16, and revenue of $330.8 million compared to anticipated $322.25 million.

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 60.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,633 shares of the company's stock after selling 34,751 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in HealthEquity were worth $2,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HQY. Brown Advisory Inc. lifted its stake in HealthEquity by 12.0% during the fourth quarter. Brown Advisory Inc. now owns 2,086,026 shares of the company's stock worth $200,154,000 after purchasing an additional 224,016 shares during the last quarter. Northern Trust Corp lifted its stake in HealthEquity by 11.7% during the fourth quarter. Northern Trust Corp now owns 1,155,043 shares of the company's stock worth $110,826,000 after purchasing an additional 121,001 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in HealthEquity by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,100,970 shares of the company's stock worth $97,293,000 after purchasing an additional 14,159 shares during the last quarter. Stephens Investment Management Group LLC lifted its stake in HealthEquity by 1.8% during the first quarter. Stephens Investment Management Group LLC now owns 1,069,446 shares of the company's stock worth $94,507,000 after purchasing an additional 19,009 shares during the last quarter. Finally, Greenhouse Funds LLLP lifted its stake in HealthEquity by 11.6% during the fourth quarter. Greenhouse Funds LLLP now owns 884,404 shares of the company's stock worth $84,859,000 after purchasing an additional 91,935 shares during the last quarter. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

HealthEquity Stock Performance

Shares of HQY traded up $2.46 during trading hours on Friday, reaching $89.89. 894,425 shares of the company's stock traded hands, compared to its average volume of 838,496. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 65.61, a P/E/G ratio of 1.39 and a beta of 0.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.06 and a quick ratio of 4.06. HealthEquity, Inc. has a twelve month low of $72.79 and a twelve month high of $116.65. The business's fifty day simple moving average is $98.42 and its two-hundred day simple moving average is $97.27.

HealthEquity (NASDAQ:HQY - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.97 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 analyst estimates of $322.25 million. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%. During the same period last year, the company earned $0.80 earnings per share. Analysts predict that HealthEquity, Inc. will post 2.32 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jon Kessler sold 134,183 shares of HealthEquity stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $112.08, for a total transaction of $15,039,230.64. Following the transaction, the director directly owned 253,510 shares of the company's stock, valued at $28,413,400.80. The trade was a 34.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 directly 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 disclosure for this sale can be found here. Insiders have sold a total of 291,744 shares of company stock valued at $32,705,007 over the last three months. Company insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank Of Canada increased their target price on HealthEquity from $112.00 to $117.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft increased their target price on HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. Wall Street Zen raised HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Barrington Research increased their target price on HealthEquity from $112.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. Finally, JMP Securities increased their target price on HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a research report on Wednesday, June 4th. One equities 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. According to MarketBeat, HealthEquity currently has a consensus 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.