Janney Montgomery Scott LLC Purchases 3,751 Shares of Healthequity Inc (NASDAQ:HQY)

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Janney Montgomery Scott LLC grew its position in Healthequity Inc (NASDAQ:HQY) by 38.0% during the third quarter, HoldingsChannel.com reports. The fund owned 13,616 shares of the company’s stock after acquiring an additional 3,751 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Healthequity were worth $778,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in HQY. BlackRock Inc. increased its stake in Healthequity by 13.1% in the 2nd quarter. BlackRock Inc. now owns 7,268,685 shares of the company’s stock worth $475,373,000 after acquiring an additional 840,177 shares during the last quarter. Renaissance Technologies LLC increased its stake in Healthequity by 76.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,162,234 shares of the company’s stock worth $76,010,000 after acquiring an additional 504,700 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Healthequity in the 2nd quarter worth approximately $30,550,000. D. E. Shaw & Co. Inc. increased its stake in Healthequity by 1,745.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 476,201 shares of the company’s stock worth $31,144,000 after acquiring an additional 450,402 shares during the last quarter. Finally, Copper Rock Capital Partners LLC bought a new stake in Healthequity in the 3rd quarter worth approximately $15,195,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Darcy G. Mott sold 4,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $61.61, for a total transaction of $246,440.00. Following the completion of the transaction, the chief financial officer now owns 46,000 shares in the company, valued at approximately $2,834,060. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 12,000 shares of company stock valued at $717,320. 3.70% of the stock is owned by company insiders.

Shares of Healthequity stock traded up $0.68 on Tuesday, reaching $61.41. The company had a trading volume of 16,369 shares, compared to its average volume of 545,411. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 64.55, a P/E/G ratio of 3.34 and a beta of 1.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 22.98 and a quick ratio of 22.98. The firm’s 50-day moving average price is $56.82 and its two-hundred day moving average price is $65.11. Healthequity Inc has a 1 year low of $50.29 and a 1 year high of $96.81.

Healthequity (NASDAQ:HQY) last announced its earnings results on Tuesday, September 3rd. The company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.10. Healthequity had a return on equity of 11.77% and a net margin of 28.13%. The firm had revenue of $86.60 million during the quarter, compared to analysts’ expectations of $85.33 million. During the same quarter in the previous year, the business earned $0.36 EPS. The company’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, analysts anticipate that Healthequity Inc will post 0.93 EPS for the current year.

HQY has been the topic of a number of research reports. ValuEngine downgraded Healthequity from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Wells Fargo & Co dropped their target price on Healthequity from $80.00 to $76.00 and set an “outperformer” rating for the company in a report on Wednesday, September 4th. Barrington Research reiterated an “outperform” rating and issued a $75.00 target price (down previously from $100.00) on shares of Healthequity in a report on Wednesday, September 4th. Oppenheimer dropped their target price on Healthequity from $98.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Finally, Raymond James upgraded Healthequity from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $90.00 to $80.00 in a report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $77.00.

About Healthequity

HealthEquity, Inc provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States. The company offers healthcare saving and spending platform, a cloud-based platform for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.

Read More: Leveraged Buyout (LBO)

Want to see what other hedge funds are holding HQY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Healthequity Inc (NASDAQ:HQY).

Institutional Ownership by Quarter for Healthequity (NASDAQ:HQY)

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