Commerce Bank Takes $633,000 Position in HealthEquity, Inc. $HQY

Commerce Bank bought a new position in HealthEquity, Inc. (NASDAQ:HQY) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,003 shares of the company’s stock, valued at approximately $633,000.

A number of other hedge funds have also recently modified their holdings of HQY. BlackRock Inc. purchased a new position in HealthEquity during the second quarter valued at approximately $1,018,621,000. William Blair Investment Management LLC acquired a new position in HealthEquity in the fourth quarter valued at approximately $169,956,000. Wasatch Advisors LP boosted its position in HealthEquity by 10.5% in the 2nd quarter. Wasatch Advisors LP now owns 7,960,735 shares of the company’s stock worth $719,014,000 after purchasing an additional 757,801 shares in the last quarter. Norges Bank purchased a new stake in HealthEquity in the 4th quarter worth approximately $66,927,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of HealthEquity during the 2nd quarter worth approximately $60,177,000. Hedge funds and other institutional investors own 99.55% of the company’s stock.

HealthEquity Stock Down 0.9%

HQY stock opened at $104.42 on Thursday. The stock has a market capitalization of $8.73 billion, a P/E ratio of 39.11, a P/E/G ratio of 1.77 and a beta of 0.21. The firm has a 50-day simple moving average of $97.77 and a 200-day simple moving average of $87.71. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.46. HealthEquity, Inc. has a 52 week low of $72.76 and a 52 week high of $107.62.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings results on Thursday, May 28th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.13. The firm had revenue of $354.64 million for the quarter, compared to analyst estimates of $352.02 million. HealthEquity had a net margin of 17.25% and a return on equity of 14.75%. HealthEquity’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts forecast that HealthEquity, Inc. will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other HealthEquity news, EVP Michael Henry Fiore sold 2,354 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $95.00, for a total transaction of $223,630.00. Following the completion of the sale, the executive vice president directly owned 52,244 shares in the company, valued at approximately $4,963,180. The trade was a 4.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 7,966 shares of company stock worth $756,770. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HQY shares. Weiss Ratings raised shares of HealthEquity from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 5th. Citizens Jmp increased their price target on shares of HealthEquity from $110.00 to $111.00 and gave the stock a “market outperform” rating in a report on Monday, June 1st. Citigroup restated a “market outperform” rating on shares of HealthEquity in a research report on Monday, June 1st. BTIG Research lifted their price objective on shares of HealthEquity from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, KeyCorp reiterated an “overweight” rating on shares of HealthEquity in a research report on Tuesday, May 26th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, HealthEquity currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.93.

About HealthEquity

HealthEquity, Inc (NASDAQ: HQY) is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.