Zions Bancorporation National Association UT Acquires Shares of 22,522 HealthEquity, Inc. (NASDAQ:HQY)

Key Points

• Zions Bancorporation has invested approximately $1.99 million in HealthEquity, acquiring 22,522 shares during the 1st quarter.
• HealthEquity reported a Q1 EPS of $0.97, exceeding expectations by $0.16, with total revenue of $330.8 million for the quarter.
• Analysts maintain a consensus "Buy" rating on HealthEquity with a price target averaging $118.55, reflecting positive market sentiment.

Zions Bancorporation National Association UT purchased a new stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,522 shares of the company's stock, valued at approximately $1,990,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. boosted its stake in shares of 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 last quarter. Hancock Whitney Corp boosted its stake in shares of HealthEquity by 1.0% in the 4th quarter. Hancock Whitney Corp now owns 13,326 shares of the company's stock valued at $1,279,000 after purchasing an additional 133 shares during the last quarter. Xponance Inc. boosted its stake in shares of HealthEquity by 1.1% in the 1st quarter. Xponance Inc. now owns 12,412 shares of the company's stock valued at $1,097,000 after purchasing an additional 136 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of HealthEquity by 17.5% in the 1st 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 last quarter. Finally, Greenleaf Trust boosted its stake in shares of HealthEquity by 7.8% in the 1st quarter. Greenleaf Trust now owns 2,407 shares of the company's stock valued at $213,000 after purchasing an additional 175 shares during the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at HealthEquity

In other HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $101.73, for a total transaction of $182,503.62. Following the completion of the sale, the executive vice president directly owned 53,225 shares in the company, valued at $5,414,579.25. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Elimelech Rosner sold 58,000 shares of HealthEquity stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 75,689 shares in the company, valued at $8,519,553.84. This trade represents a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 291,744 shares of company stock worth $32,705,007 over the last three months. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on HQY shares. Royal Bank Of Canada increased 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. KeyCorp cut their target price on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Bank of America increased their target price 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. Finally, The Goldman Sachs Group increased their target price on shares of HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $118.55.

HealthEquity Stock Performance

Shares of HQY traded up $1.21 during trading hours on Friday, hitting $93.05. The company's stock had a trading volume of 616,384 shares, compared to its average volume of 880,674. The business has a 50 day simple moving average of $100.26 and a two-hundred day simple moving average of $97.78. 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, Inc. has a 52-week low of $69.52 and a 52-week high of $116.65. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 67.92, a PEG ratio of 1.44 and a beta of 0.54.

HealthEquity (NASDAQ:HQY - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $322.25 million. During the same period last year, the business earned $0.80 earnings per share. On average, equities analysts expect that HealthEquity, Inc. will post 2.32 earnings per share for the current fiscal year.

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.