WCM Investment Management LLC Invests $20.23 Million in HealthEquity, Inc. (NASDAQ:HQY)

WCM Investment Management LLC purchased a new position in HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 232,641 shares of the company's stock, valued at approximately $20,230,000. WCM Investment Management LLC owned 0.27% of HealthEquity at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HQY. Pier Capital LLC bought a new stake in shares of HealthEquity in the fourth quarter valued at $8,024,000. HighTower Advisors LLC increased its holdings in HealthEquity by 4.8% in the 4th quarter. HighTower Advisors LLC now owns 95,075 shares of the company's stock worth $9,122,000 after acquiring an additional 4,370 shares during the last quarter. Wells Fargo & Company MN raised its stake in HealthEquity by 4.7% in the 4th quarter. Wells Fargo & Company MN now owns 124,940 shares of the company's stock valued at $11,988,000 after acquiring an additional 5,594 shares during the period. Geneva Capital Management LLC lifted its holdings in HealthEquity by 24.6% during the fourth quarter. Geneva Capital Management LLC now owns 1,048,903 shares of the company's stock valued at $100,642,000 after purchasing an additional 206,894 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in HealthEquity by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,086,811 shares of the company's stock worth $104,280,000 after purchasing an additional 25,004 shares during the period. Hedge funds and other institutional investors own 99.55% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HQY. Bank of America boosted their price target on shares of HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. JMP Securities increased their target price on HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada raised their price target on HealthEquity from $112.00 to $117.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Finally, Raymond James Financial upgraded HealthEquity from an "outperform" rating to a "strong-buy" rating and cut their target price for the stock from $120.00 to $115.00 in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $118.09.

Insider Activity at HealthEquity

In other HealthEquity news, Director Robert W. Selander sold 5,750 shares of HealthEquity stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $77.65, for a total transaction of $446,487.50. Following the completion of the sale, the director owned 84,969 shares of the company's stock, valued at $6,597,842.85. The trade was a 6.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Henry Fiore sold 8,881 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $78.26, for a total value of $695,027.06. Following the completion of the transaction, the executive vice president owned 56,655 shares of the company's stock, valued at $4,433,820.30. The trade was a 13.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,581 shares of company stock worth $33,664,018 over the last quarter. 1.50% of the stock is currently owned by corporate insiders.

HealthEquity Price Performance

NASDAQ HQY traded down $1.61 during trading on Wednesday, reaching $101.28. The company's stock had a trading volume of 1,320,859 shares, compared to its average volume of 858,669. The firm has a fifty day moving average of $98.89 and a 200 day moving average of $98.12. HealthEquity, Inc. has a one year low of $65.01 and a one year high of $116.65. The stock has a market capitalization of $8.76 billion, a PE ratio of 73.93, a P/E/G ratio of 1.61 and a beta of 0.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.06 and a quick ratio of 4.06.

HealthEquity (NASDAQ:HQY - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share 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 company had revenue of $330.80 million for the quarter, compared to analysts' expectations of $322.25 million. During the same period in the prior year, the business earned $0.80 earnings per share. Analysts expect that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

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.