New Age Alpha Advisors LLC Buys 19,584 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Key Points

• New Age Alpha Advisors LLC significantly increased its stake in HealthEquity, acquiring a total of 22,175 shares, worth approximately $1.96 million after purchasing an additional 19,584 shares in Q1.
• HealthEquity reported earnings per share of $0.97, exceeding analysts' expectations of $0.81, and generated a revenue of $330.80 million in its most recent quarter.
• Analysts have a consensus rating of "Buy" for HealthEquity, with price targets ranging from $100.00 to $120.00, indicating optimism for the company's stock performance.

New Age Alpha Advisors LLC grew its stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 755.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,175 shares of the company's stock after acquiring an additional 19,584 shares during the quarter. New Age Alpha Advisors LLC's holdings in HealthEquity were worth $1,960,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HQY. Wealth Enhancement Advisory Services LLC increased its stake in HealthEquity by 24.7% in the first 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of HealthEquity by 7,983.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,655 shares of the company's stock valued at $2,179,000 after buying an additional 24,350 shares during the period. GAMMA Investing LLC increased its position in shares of HealthEquity by 25.9% in the 1st quarter. GAMMA Investing LLC now owns 1,571 shares of the company's stock valued at $139,000 after buying an additional 323 shares in the last quarter. Wells Fargo & Company MN raised its stake in HealthEquity by 4.7% during the 4th quarter. Wells Fargo & Company MN now owns 124,940 shares of the company's stock worth $11,988,000 after buying an additional 5,594 shares during the period. Finally, WCM Investment Management LLC bought a new position in HealthEquity during the first quarter worth about $20,230,000. 99.55% of the stock is owned by institutional investors.

HealthEquity Trading Down 0.1%

Shares of NASDAQ:HQY opened at $90.95 on Thursday. The company's 50-day moving average price is $100.60 and its two-hundred day moving average price is $98.04. HealthEquity, Inc. has a one year low of $67.32 and a one year high of $116.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.06 and a quick ratio of 4.06. The stock has a market capitalization of $7.86 billion, a PE ratio of 66.39, a price-to-earnings-growth ratio of 1.41 and a beta of 0.54.

HealthEquity (NASDAQ:HQY - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.16. The firm had revenue of $330.80 million during the quarter, compared to the consensus estimate of $322.25 million. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%. During the same period last year, the company earned $0.80 earnings per share. On average, equities analysts forecast that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

Analyst Ratings Changes

HQY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Raymond James Financial reissued a "strong-buy" rating and set a $120.00 target price (up from $115.00) on shares of HealthEquity in a research note on Tuesday, July 8th. The Goldman Sachs Group lifted their price target on shares of HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Royal Bank Of Canada upped their price target on shares of HealthEquity from $112.00 to $117.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, KeyCorp lowered their price objective on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $118.55.

Insider Activity

In related news, Director Jon Kessler sold 97,767 shares of the business'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 transaction of $10,954,792.35. Following the transaction, the director directly owned 75,000 shares of the company's stock, valued at approximately $8,403,750. The trade was a 56.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elimelech Rosner sold 58,000 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $112.56, for a total value of $6,528,480.00. Following the sale, the executive vice president directly owned 75,689 shares of the company's stock, valued at $8,519,553.84. This represents a 43.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 291,744 shares of company stock valued at $32,705,007. 1.50% of the stock is owned by company 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.

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