PNC Financial Services Group Inc. Grows Holdings in HealthEquity, Inc. (NASDAQ:HQY)

PNC Financial Services Group Inc. boosted its stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 47.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,063 shares of the company's stock after purchasing an additional 4,183 shares during the quarter. PNC Financial Services Group Inc.'s holdings in HealthEquity were worth $1,154,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Brown Advisory Inc. grew its holdings in HealthEquity by 12.0% during the 4th quarter. Brown Advisory Inc. now owns 2,086,026 shares of the company's stock valued at $200,154,000 after purchasing an additional 224,016 shares during the last quarter. Invesco Ltd. grew its holdings in HealthEquity by 0.8% during the 4th quarter. Invesco Ltd. now owns 1,624,773 shares of the company's stock valued at $155,897,000 after purchasing an additional 12,425 shares during the last quarter. Northern Trust Corp grew its holdings in HealthEquity by 11.7% during the 4th quarter. Northern Trust Corp now owns 1,155,043 shares of the company's stock valued at $110,826,000 after purchasing an additional 121,001 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in HealthEquity by 1.8% during the 1st 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 during the last quarter. Finally, Greenhouse Funds LLLP grew its holdings in HealthEquity by 11.6% during the 4th quarter. Greenhouse Funds LLLP now owns 884,404 shares of the company's stock valued at $84,859,000 after purchasing an additional 91,935 shares during the last quarter. Hedge funds and other institutional investors own 99.55% of the company's stock.

Insider Buying and Selling at HealthEquity

In other HealthEquity news, Director Jon Kessler sold 134,183 shares of HealthEquity stock in a transaction on Friday, June 6th. The shares were sold at an average price of $112.08, for a total value of $15,039,230.64. Following the completion of the transaction, the director owned 253,510 shares of the company's stock, valued at approximately $28,413,400.80. The trade was a 34.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elimelech Rosner sold 58,000 shares of HealthEquity stock in a transaction on Friday, June 6th. The shares were sold at an average price of $112.56, for a total transaction of $6,528,480.00. Following the completion of the transaction, the executive vice president directly owned 75,689 shares of the company's stock, valued at $8,519,553.84. The trade was a 43.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 291,744 shares of company stock valued at $32,705,007. Corporate insiders own 1.50% of the company's stock.

HealthEquity Stock Performance

Shares of HealthEquity stock traded up $1.14 during trading on Friday, hitting $88.57. 97,328 shares of the company's stock were exchanged, compared to its average volume of 1,007,799. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.06 and a current ratio of 4.06. The business has a 50-day simple moving average of $98.86 and a 200-day simple moving average of $97.47. HealthEquity, Inc. has a 52-week low of $72.79 and a 52-week high of $116.65. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 63.96, a PEG ratio of 1.38 and a beta of 0.54.

HealthEquity (NASDAQ:HQY - Get Free Report) last issued its 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. HealthEquity had a net margin of 9.80% and a return on equity of 11.01%. The firm had revenue of $330.80 million during the quarter, compared to analysts' expectations of $322.25 million. During the same quarter last year, the company posted $0.80 earnings per share. On average, research analysts forecast that HealthEquity, Inc. will post 2.32 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upped 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. Raymond James Financial reiterated a "strong-buy" rating and set a $120.00 price target (up from $115.00) on shares of HealthEquity in a report on Tuesday, July 8th. Barrington Research upped their target price on shares of HealthEquity from $112.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. Royal Bank Of Canada upped their target price on shares of HealthEquity from $112.00 to $117.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen upgraded shares of HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $118.55.

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.