Hodges Capital Management Inc. Acquires Shares of 22,500 HealthEquity, Inc. $HQY

Key Points

• Hodges Capital Management Inc. acquired 22,500 shares of HealthEquity, Inc. valued at approximately $1,988,000 in the first quarter, according to their latest SEC filing.
• Major hedge funds, including Invesco Ltd. and Goldman Sachs Group Inc., have significantly increased their holdings in HealthEquity in the same quarter, reflecting strong institutional interest in the stock.
• Several analysts have upgraded their price targets for HealthEquity, with Deutsche Bank raising theirs from $98.00 to $115.00, indicating a generally positive outlook for the company.

Hodges Capital Management Inc. purchased a new position in HealthEquity, Inc. (NASDAQ:HQY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,500 shares of the company's stock, valued at approximately $1,988,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Invesco Ltd. lifted its holdings in shares of HealthEquity by 50.6% during the first quarter. Invesco Ltd. now owns 2,446,198 shares of the company's stock valued at $216,171,000 after purchasing an additional 821,425 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of HealthEquity by 1.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,133,166 shares of the company's stock valued at $100,138,000 after purchasing an additional 15,458 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of HealthEquity by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,100,970 shares of the company's stock valued at $97,293,000 after purchasing an additional 14,159 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in shares of HealthEquity by 1.8% during the first quarter. Stephens Investment Management Group LLC now owns 1,069,446 shares of the company's stock valued at $94,507,000 after purchasing an additional 19,009 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of HealthEquity by 24.9% during the first quarter. Wellington Management Group LLP now owns 848,940 shares of the company's stock valued at $75,021,000 after purchasing an additional 169,337 shares in the last quarter. 99.55% of the stock is owned by institutional investors.

Insider Activity at HealthEquity

In other news, 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 transaction of $182,503.62. Following the transaction, the executive vice president directly owned 53,225 shares of the company's stock, valued at $5,414,579.25. The trade was a 3.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by company insiders.

HealthEquity Price Performance

NASDAQ HQY opened at $92.49 on Friday. The business's fifty day moving average is $93.46 and its 200 day moving average is $94.50. HealthEquity, Inc. has a fifty-two week low of $74.07 and a fifty-two week high of $116.65. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.23 and a current ratio of 4.23. The company has a market capitalization of $7.97 billion, a PE ratio of 56.05, a price-to-earnings-growth ratio of 1.32 and a beta of 0.50.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on HQY shares. Deutsche Bank Aktiengesellschaft upped their price target on HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Jefferies Financial Group upped their price target on HealthEquity from $130.00 to $134.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Barrington Research reiterated an "outperform" rating and set a $125.00 price objective on shares of HealthEquity in a research report on Friday, August 29th. JPMorgan Chase & Co. raised their target price on HealthEquity from $125.00 to $126.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Finally, Bank of America boosted their price target on HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $119.77.

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.

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