New York State Common Retirement Fund Boosts Holdings in HealthEquity, Inc. (NASDAQ:HQY)

New York State Common Retirement Fund raised its position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 37.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 140,155 shares of the company's stock after purchasing an additional 37,955 shares during the period. New York State Common Retirement Fund owned about 0.16% of HealthEquity worth $12,385,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased 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 valued at $564,000 after purchasing an additional 1,265 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in HealthEquity by 7,983.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,655 shares of the company's stock worth $2,179,000 after purchasing an additional 24,350 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of HealthEquity by 25.9% during the first quarter. GAMMA Investing LLC now owns 1,571 shares of the company's stock worth $139,000 after purchasing an additional 323 shares in the last quarter. Pier Capital LLC bought a new position in shares of HealthEquity during the fourth quarter valued at approximately $8,024,000. Finally, Wells Fargo & Company MN lifted its position 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 valued at $11,988,000 after acquiring an additional 5,594 shares during the last quarter. Hedge funds and other institutional investors own 99.55% of the company's stock.

HealthEquity Stock Down 0.6%

NASDAQ:HQY traded down $0.62 during trading hours on Monday, hitting $97.08. The company's stock had a trading volume of 693,526 shares, compared to its average volume of 870,969. HealthEquity, Inc. has a 52-week low of $65.01 and a 52-week high of $116.65. The stock has a market capitalization of $8.39 billion, a P/E ratio of 70.86, a price-to-earnings-growth ratio of 1.51 and a beta of 0.49. The stock has a fifty day moving average of $101.65 and a 200-day moving average of $98.49. 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 (NASDAQ:HQY - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $330.80 million during the quarter, compared to analyst estimates of $322.25 million. HealthEquity had a net margin of 9.80% and a return on equity of 11.01%. During the same quarter in the previous year, the business earned $0.80 EPS. On average, equities analysts forecast that HealthEquity, Inc. will post 2.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HQY shares. Barrington Research boosted their price objective on shares of HealthEquity from $112.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Bank of America boosted their price objective on shares of HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. The Goldman Sachs Group increased their price objective on shares of HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft lifted 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, June 5th. Finally, Royal Bank Of Canada upped their price objective on shares of HealthEquity from $112.00 to $117.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $118.55.

Insider Activity

In related news, Director Jon Kessler sold 97,767 shares of the company's stock in a transaction that occurred 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 sale, the director owned 75,000 shares of the company's stock, valued at approximately $8,403,750. This represents a 56.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the executive vice president directly owned 75,689 shares in the company, valued at $8,519,553.84. The trade was a 43.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 291,744 shares of company stock worth $32,705,007. 1.50% of the stock is currently owned by insiders.

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.