Royal Bank of Canada Boosts Holdings in HealthEquity, Inc. (NASDAQ:HQY)

Royal Bank of Canada increased its holdings in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 433,190 shares of the company's stock after buying an additional 41,434 shares during the period. Royal Bank of Canada owned 0.50% of HealthEquity worth $41,563,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pier Capital LLC acquired a new position in HealthEquity during the fourth quarter valued at approximately $8,024,000. HighTower Advisors LLC raised its position in HealthEquity by 4.8% during the fourth quarter. HighTower Advisors LLC now owns 95,075 shares of the company's stock valued at $9,122,000 after purchasing an additional 4,370 shares in the last quarter. Wells Fargo & Company MN raised its position in HealthEquity by 4.7% during the fourth quarter. Wells Fargo & Company MN now owns 124,940 shares of the company's stock valued at $11,988,000 after purchasing an additional 5,594 shares in the last quarter. Geneva Capital Management LLC raised its position in HealthEquity by 24.6% during the fourth quarter. Geneva Capital Management LLC now owns 1,048,903 shares of the company's stock valued at $100,642,000 after purchasing an additional 206,894 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in HealthEquity by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,086,811 shares of the company's stock valued at $104,280,000 after purchasing an additional 25,004 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on HQY shares. The Goldman Sachs Group lowered their price objective on shares of HealthEquity from $107.00 to $94.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. KeyCorp reduced their price objective on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Raymond James raised shares of HealthEquity from an "outperform" rating to a "strong-buy" rating and cut their price target for the company from $120.00 to $115.00 in a research report on Tuesday, March 25th. Barrington Research reaffirmed an "outperform" rating and set a $112.00 price target on shares of HealthEquity in a research report on Friday, April 11th. Finally, Wells Fargo & Company upped their price target on shares of HealthEquity from $110.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $112.33.

Insider Activity

In related news, Director Robert W. Selander sold 5,750 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $77.65, for a total value of $446,487.50. Following the completion of the transaction, the director now directly owns 84,969 shares of the company's stock, valued at approximately $6,597,842.85. This trade represents a 6.34% decrease in their position. The transaction 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 firm's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $78.26, for a total transaction of $695,027.06. Following the completion of the transaction, the executive vice president now directly owns 56,655 shares of the company's stock, valued at approximately $4,433,820.30. This trade represents a 13.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

HealthEquity Stock Down 1.1%

NASDAQ:HQY traded down $1.07 on Friday, hitting $99.01. The stock had a trading volume of 908,113 shares, compared to its average volume of 808,012. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.20 and a current ratio of 3.20. The stock has a market cap of $8.56 billion, a P/E ratio of 90.83, a price-to-earnings-growth ratio of 1.60 and a beta of 0.45. HealthEquity, Inc. has a 1 year low of $65.01 and a 1 year high of $115.59. The firm's fifty day simple moving average is $88.03 and its two-hundred day simple moving average is $97.40.

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.