600,607 Shares in HealthEquity, Inc. (NASDAQ:HQY) Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new position in HealthEquity, Inc., purchasing 600,607 shares valued at approximately $53 million, representing 0.69% ownership.
• Several institutional investors, including Invesco Ltd. and Brown Advisory Inc., have significantly increased their stakes in HealthEquity, with 99.55% of the stock currently owned by institutional investors.
• Wall Street analysts have raised their price targets for HealthEquity shares, with consensus rating of "Buy" and an average price target of $118.55.

Nuveen LLC bought a new stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 600,607 shares of the company's stock, valued at approximately $53,076,000. Nuveen LLC owned about 0.69% of HealthEquity at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Invesco Ltd. increased its holdings in HealthEquity by 50.6% in the first quarter. Invesco Ltd. now owns 2,446,198 shares of the company's stock valued at $216,171,000 after buying an additional 821,425 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in HealthEquity during the fourth quarter worth about $78,107,000. Westfield Capital Management Co. LP purchased a new stake in shares of HealthEquity in the 1st quarter valued at approximately $49,787,000. Premier Fund Managers Ltd increased its stake in HealthEquity by 3,601.6% during the 1st quarter. Premier Fund Managers Ltd now owns 409,992 shares of the company's stock worth $35,610,000 after buying an additional 398,916 shares during the period. Finally, Iron Triangle Partners LP purchased a new stake in shares of HealthEquity in the 4th quarter valued at approximately $32,202,000. Institutional investors own 99.55% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JMP Securities increased their price target on shares of HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded shares of HealthEquity from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Royal Bank Of Canada increased 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. Raymond James Financial reiterated a "strong-buy" rating and issued a $120.00 price target (up previously from $115.00) on shares of HealthEquity in a report on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, June 5th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, HealthEquity currently has an average rating of "Buy" and a consensus target price of $118.55.

HealthEquity Stock Performance

Shares of HQY stock traded up $2.46 during trading on Friday, reaching $89.89. 894,425 shares of the company's stock were exchanged, compared to its average volume of 838,496. The firm's fifty day moving average price is $98.42 and its 200-day moving average price is $97.27. The stock has a market capitalization of $7.77 billion, a PE ratio of 65.61, a PEG ratio of 1.39 and a beta of 0.54. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.50. HealthEquity, Inc. has a twelve month low of $72.79 and a twelve month high of $116.65.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.16. The business had revenue of $330.80 million for the quarter, compared to analyst estimates of $322.25 million. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%. During the same quarter in the prior year, the company earned $0.80 earnings per share. As a group, sell-side analysts anticipate that HealthEquity, Inc. will post 2.32 EPS for the current year.

Insider Buying and Selling

In related news, Director Jon Kessler sold 97,767 shares of the 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 transaction, the director owned 75,000 shares of the company's stock, valued at $8,403,750. This represents a 56.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elimelech Rosner sold 58,000 shares of the 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 owned 75,689 shares of the company's stock, valued at approximately $8,519,553.84. This represents a 43.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 291,744 shares of company stock worth $32,705,007 in the last 90 days. Insiders own 1.50% of the company's stock.

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.