Bank of New York Mellon Corp Increases Holdings in HealthEquity, Inc. (NASDAQ:HQY)

Bank of New York Mellon Corp boosted its stake in shares of HealthEquity, Inc. (NASDAQ:HQY – Get Rating) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 933,350 shares of the company’s stock after buying an additional 13,268 shares during the period. Bank of New York Mellon Corp owned 1.10% of HealthEquity worth $62,693,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HQY. Macquarie Group Ltd. lifted its holdings in HealthEquity by 4.2% in the third quarter. Macquarie Group Ltd. now owns 51,841 shares of the company’s stock valued at $3,552,000 after acquiring an additional 2,095 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of HealthEquity by 6.9% in the 3rd quarter. Royal Bank of Canada now owns 494,955 shares of the company’s stock valued at $33,246,000 after purchasing an additional 31,860 shares during the last quarter. Eaton Vance Management grew its holdings in shares of HealthEquity by 0.9% during the 3rd quarter. Eaton Vance Management now owns 65,425 shares of the company’s stock worth $4,394,000 after purchasing an additional 600 shares during the period. Tudor Investment Corp Et Al increased its position in shares of HealthEquity by 6.8% during the 3rd quarter. Tudor Investment Corp Et Al now owns 14,882 shares of the company’s stock worth $1,000,000 after purchasing an additional 951 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in HealthEquity in the 3rd quarter valued at about $383,000. 99.54% of the stock is currently owned by hedge funds and other institutional investors.

HealthEquity Stock Down 0.7 %

Shares of NASDAQ:HQY opened at $66.49 on Friday. HealthEquity, Inc. has a fifty-two week low of $51.10 and a fifty-two week high of $79.20. The firm’s 50 day moving average price is $61.92 and its 200 day moving average price is $65.39. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.48. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of -94.99, a price-to-earnings-growth ratio of 2.33 and a beta of 0.80.

HealthEquity (NASDAQ:HQY – Get Rating) last announced its quarterly earnings data on Tuesday, December 6th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $216.09 million for the quarter, compared to analyst estimates of $206.58 million. HealthEquity had a negative net margin of 7.07% and a positive return on equity of 2.82%. As a group, equities research analysts predict that HealthEquity, Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Activity at HealthEquity

In other HealthEquity news, Director Gayle Furgurson Wellborn sold 5,237 shares of the firm’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $62.00, for a total value of $324,694.00. Following the sale, the director now directly owns 12,023 shares in the company, valued at $745,426. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HQY has been the subject of several research analyst reports. Wells Fargo & Company lowered their target price on shares of HealthEquity from $101.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. Royal Bank of Canada boosted their target price on HealthEquity from $70.00 to $75.00 in a research report on Monday, December 5th. Deutsche Bank Aktiengesellschaft raised their price target on HealthEquity from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, January 24th. Guggenheim boosted their price objective on HealthEquity from $89.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, December 7th. Finally, StockNews.com upgraded HealthEquity from a “sell” rating to a “hold” rating in a report on Wednesday, February 1st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.62.

About HealthEquity

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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.