563,389 Shares in HealthEquity, Inc. (NASDAQ:HQY) Acquired by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP invested approximately $49.79 million in HealthEquity, acquiring 563,389 shares during the first quarter.
• Several analysts have upgraded HealthEquity's rating, with target prices ranging from $104.00 to $125.00, indicating a general consensus on the stock's positive outlook.
• HealthEquity recently reported earnings of $0.97 per share, exceeding expectations, with revenues of $330.8 million for the quarter, reflecting a strong financial performance.

Westfield Capital Management Co. LP acquired a new stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 563,389 shares of the company's stock, valued at approximately $49,787,000. Westfield Capital Management Co. LP owned 0.65% of HealthEquity at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its holdings in HealthEquity by 0.3% in the 4th quarter. Ameritas Investment Partners Inc. now owns 33,856 shares of the company's stock valued at $3,248,000 after purchasing an additional 88 shares during the period. Hancock Whitney Corp lifted its stake in HealthEquity by 1.0% in the fourth quarter. Hancock Whitney Corp now owns 13,326 shares of the company's stock worth $1,279,000 after purchasing an additional 133 shares during the last quarter. Xponance Inc. boosted its holdings in HealthEquity by 1.1% during the 1st quarter. Xponance Inc. now owns 12,412 shares of the company's stock valued at $1,097,000 after acquiring an additional 136 shares during the period. Fifth Third Bancorp boosted its stake in shares of HealthEquity by 17.5% during the first quarter. Fifth Third Bancorp now owns 955 shares of the company's stock valued at $84,000 after purchasing an additional 142 shares during the period. Finally, Greenleaf Trust grew its holdings in HealthEquity by 7.8% in the 1st quarter. Greenleaf Trust now owns 2,407 shares of the company's stock worth $213,000 after acquiring an additional 175 shares during the last quarter. 99.55% of the stock is owned by hedge funds and other institutional investors.

HealthEquity Price Performance

HQY traded up $0.89 during trading on Thursday, reaching $91.84. 642,993 shares of the company traded hands, compared to its average volume of 918,713. 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 company has a market cap of $7.94 billion, a P/E ratio of 67.04, a PEG ratio of 1.41 and a beta of 0.54. The firm has a fifty day simple moving average of $100.42 and a 200 day simple moving average of $97.96. HealthEquity, Inc. has a 12-month low of $67.32 and a 12-month high of $116.65.

HealthEquity (NASDAQ:HQY - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.97 EPS 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 in the prior year, the company earned $0.80 EPS. On average, equities analysts forecast that HealthEquity, Inc. will post 2.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank Of Canada upped their price objective on shares of HealthEquity from $112.00 to $117.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. The Goldman Sachs Group raised their price objective 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. KeyCorp lowered their price target on HealthEquity from $110.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. Finally, Bank of America increased their price objective on shares of HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. One 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 company currently has a consensus rating of "Buy" and a consensus price target of $118.55.

Insider Activity

In other HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $101.73, for a total value of $182,503.62. Following the transaction, the executive vice president owned 53,225 shares of the company's stock, valued at $5,414,579.25. This represents a 3.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Elimelech Rosner sold 58,000 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was 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 in the company, 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 90 days, insiders have sold 291,744 shares of company stock valued at $32,705,007. 1.50% of the stock is currently owned by 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.