Congress Asset Management Co. Grows Stock Position in HealthEquity, Inc. (NASDAQ:HQY)

Congress Asset Management Co. grew its holdings in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 168.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,253 shares of the company's stock after buying an additional 42,785 shares during the period. Congress Asset Management Co. owned 0.08% of HealthEquity worth $6,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealthfront Advisers LLC purchased a new stake in HealthEquity in the fourth quarter worth about $10,304,089,000. T. Rowe Price Investment Management Inc. bought a new position in shares of HealthEquity in the 4th quarter worth approximately $78,107,000. Norges Bank bought a new position in shares of HealthEquity in the 4th quarter worth approximately $74,701,000. Raymond James Financial Inc. purchased a new position in shares of HealthEquity in the 4th quarter valued at approximately $45,728,000. Finally, Iron Triangle Partners LP bought a new stake in shares of HealthEquity during the fourth quarter valued at approximately $32,202,000. Institutional investors own 99.55% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their price objective on HealthEquity from $112.00 to $117.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. JMP Securities upped their target price on shares of HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a research report on Wednesday, June 4th. Barrington Research lifted their price target on shares of HealthEquity from $112.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, KeyCorp decreased their target price on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $118.09.

HealthEquity Stock Down 0.3%

Shares of NASDAQ HQY traded down $0.39 during midday trading on Monday, hitting $111.16. The stock had a trading volume of 887,385 shares, compared to its average volume of 830,254. The business's 50 day moving average is $91.48 and its 200-day moving average is $97.72. The company has a market cap of $9.61 billion, a P/E ratio of 101.98, a PEG ratio of 1.60 and a beta of 0.49. HealthEquity, Inc. has a 52 week low of $65.01 and a 52 week high of $116.65. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.51.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.16. The company had revenue of $330.80 million during the quarter, compared to analyst estimates of $322.25 million. HealthEquity had a net margin of 8.41% and a return on equity of 9.70%. During the same period in the previous year, the business earned $0.80 EPS. As a group, analysts predict that HealthEquity, Inc. will post 2.32 EPS for the current year.

Insider Activity

In other HealthEquity news, Director Robert W. Selander sold 5,750 shares of the business's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $77.65, for a total transaction of $446,487.50. Following the completion of the sale, the director now directly owns 84,969 shares in the company, valued at approximately $6,597,842.85. The trade was a 6.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Henry Fiore sold 8,881 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $78.26, for a total value of $695,027.06. Following the transaction, the executive vice president now directly owns 56,655 shares in the company, valued at $4,433,820.30. The trade was a 13.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

HealthEquity Company 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.