Premier Fund Managers Ltd Increases Position in HealthEquity, Inc. (NASDAQ:HQY)

Premier Fund Managers Ltd increased its stake in shares of HealthEquity, Inc. (NASDAQ:HQY) by 3,601.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 409,992 shares of the company’s stock after buying an additional 398,916 shares during the quarter. Premier Fund Managers Ltd owned about 0.47% of HealthEquity worth $35,610,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in HealthEquity by 24.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,380 shares of the company’s stock valued at $564,000 after purchasing an additional 1,265 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in HealthEquity by 7,983.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,655 shares of the company’s stock valued at $2,179,000 after purchasing an additional 24,350 shares during the last quarter. GAMMA Investing LLC boosted its holdings in HealthEquity by 25.9% in the first quarter. GAMMA Investing LLC now owns 1,571 shares of the company’s stock valued at $139,000 after purchasing an additional 323 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in HealthEquity by 4.7% in the fourth quarter. Wells Fargo & Company MN now owns 124,940 shares of the company’s stock valued at $11,988,000 after purchasing an additional 5,594 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new stake in HealthEquity in the first quarter valued at $20,230,000. 99.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jon Kessler sold 134,183 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $112.08, for a total transaction of $15,039,230.64. Following the completion of the transaction, the director owned 253,510 shares in the company, valued at $28,413,400.80. This represents a 34.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elimelech Rosner sold 58,000 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $112.56, for a total transaction of $6,528,480.00. Following the sale, the executive vice president directly owned 75,689 shares of the company’s stock, valued at approximately $8,519,553.84. This represents a 43.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 291,744 shares of company stock worth $32,705,007 in the last 90 days. Insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

HQY has been the topic of several recent research reports. Barrington Research upped their price target on shares of HealthEquity from $112.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, June 5th. JMP Securities upped their price target on shares of HealthEquity from $110.00 to $117.00 and gave the company a “market outperform” rating in a report on Wednesday, June 4th. Royal Bank Of Canada upped their price target on shares of HealthEquity from $112.00 to $117.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Wall Street Zen raised shares of HealthEquity from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, Bank of America upped their price objective on shares of HealthEquity from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. One 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 company. According to data from MarketBeat, HealthEquity presently has a consensus rating of “Buy” and a consensus price target of $118.55.

HealthEquity Stock Down 0.3%

HQY opened at $95.76 on Tuesday. HealthEquity, Inc. has a twelve month low of $65.01 and a twelve month high of $116.65. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $101.50 and a 200 day moving average price of $98.38. The company has a market cap of $8.28 billion, a PE ratio of 69.90, a price-to-earnings-growth ratio of 1.49 and a beta of 0.49.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings results 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 firm had revenue of $330.80 million during the quarter, compared to the consensus estimate of $322.25 million. During the same quarter in the prior year, the firm earned $0.80 EPS. Sell-side 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.