Hodges Capital Management Inc. Invests $1.99 Million in 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. bought a new position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 22,500 shares of the company's stock, valued at approximately $1,988,000.

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc bought a new stake in shares of HealthEquity in the 1st quarter worth approximately $28,000. WPG Advisers LLC bought a new stake in shares of HealthEquity in the 1st quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of HealthEquity by 176.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 655 shares of the company's stock worth $58,000 after purchasing an additional 418 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of HealthEquity by 1,366.0% in the 1st quarter. Larson Financial Group LLC now owns 689 shares of the company's stock worth $61,000 after purchasing an additional 642 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of HealthEquity in the 1st quarter worth approximately $65,000. 99.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Barrington Research reissued an "outperform" rating and issued a $125.00 price target on shares of HealthEquity in a research report on Friday, August 29th. Wall Street Zen raised HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Royal Bank Of Canada upped their price objective on HealthEquity from $109.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. upped their price objective on HealthEquity from $125.00 to $126.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Finally, The Goldman Sachs Group upped their price objective on HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research report 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $119.77.

HealthEquity Stock Performance

HQY traded up $2.60 during mid-day trading on Thursday, reaching $94.88. 433,316 shares of the company traded hands, compared to its average volume of 1,033,554. The stock has a market capitalization of $8.18 billion, a P/E ratio of 57.39, a P/E/G ratio of 1.31 and a beta of 0.50. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.47. The company's fifty day moving average price is $92.90 and its 200-day moving average price is $94.19. HealthEquity, Inc. has a 52-week low of $74.07 and a 52-week high of $116.65.

Insiders Place Their Bets

In other HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $101.73, for a total transaction of $182,503.62. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company's stock.

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.