Great West Life Assurance Co. Can Makes New Investment in HealthEquity, Inc. (NASDAQ:HQY)

Great West Life Assurance Co. Can acquired a new position in HealthEquity, Inc. (NASDAQ:HQYGet Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 56,014 shares of the company’s stock, valued at approximately $3,762,000. Great West Life Assurance Co. Can owned 0.07% of HealthEquity as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. grew its holdings in HealthEquity by 4.0% in the first quarter. BlackRock Inc. now owns 9,423,008 shares of the company’s stock worth $635,488,000 after purchasing an additional 358,743 shares during the period. Wasatch Advisors Inc. grew its holdings in HealthEquity by 3.3% in the first quarter. Wasatch Advisors Inc. now owns 7,638,935 shares of the company’s stock worth $515,170,000 after purchasing an additional 244,868 shares during the period. FMR LLC grew its holdings in HealthEquity by 11.6% in the second quarter. FMR LLC now owns 3,589,800 shares of the company’s stock worth $220,378,000 after purchasing an additional 373,264 shares during the period. State Street Corp grew its holdings in shares of HealthEquity by 2.6% during the first quarter. State Street Corp now owns 2,642,658 shares of the company’s stock valued at $178,221,000 after buying an additional 68,071 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of HealthEquity by 2.2% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,410,226 shares of the company’s stock valued at $86,574,000 after buying an additional 30,886 shares during the last quarter. Hedge funds and other institutional investors own 99.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on HQY. The Goldman Sachs Group upgraded shares of HealthEquity from a “sell” rating to a “neutral” rating and increased their price target for the company from $64.00 to $77.00 in a report on Friday, October 21st. Guggenheim increased their price target on shares of HealthEquity from $89.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, December 7th. Royal Bank of Canada increased their price target on shares of HealthEquity from $70.00 to $75.00 in a report on Monday, December 5th. Robert W. Baird increased their price target on shares of HealthEquity to $75.00 in a report on Monday, December 12th. Finally, Raymond James increased their price target on shares of HealthEquity from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, December 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, HealthEquity currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.23.

Insider Activity

In other news, Director Gayle Furgurson Wellborn sold 5,237 shares of the firm’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $62.00, for a total transaction of $324,694.00. Following the sale, the director now directly owns 12,023 shares in the company, valued at approximately $745,426. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.80% of the company’s stock.

HealthEquity Stock Down 1.3 %

HQY opened at $56.64 on Tuesday. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.48. HealthEquity, Inc. has a 1-year low of $48.42 and a 1-year high of $79.20. The company has a market capitalization of $4.79 billion, a PE ratio of -80.91, a PEG ratio of 2.95 and a beta of 0.80. The firm’s 50 day simple moving average is $61.37 and its two-hundred day simple moving average is $64.63.

HealthEquity (NASDAQ:HQYGet Rating) last released its quarterly earnings results on Tuesday, December 6th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. HealthEquity had a negative net margin of 7.07% and a positive return on equity of 2.82%. The business had revenue of $216.09 million for the quarter, compared to the consensus estimate of $206.58 million. As a group, equities analysts forecast that HealthEquity, Inc. will post 0.74 EPS for the current year.

HealthEquity Profile

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HealthEquity, Inc provides range of solutions for managing health care accounts. The firm’s offers its solutions for employers, health plans, brokers, consultants and financial advisors. Its services include HAS, FSA, HRA, DCRA, 401(k), Commuter, COBRA and HIA. It also offers products like healthcare saving and spending platform, health savings accounts, investment advisory services, reimbursement arrangements, and healthcare incentives.

See Also

Institutional Ownership by Quarter for HealthEquity (NASDAQ:HQY)

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