Bank of New York Mellon Corp Sells 82,020 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Bank of New York Mellon Corp reduced its holdings in shares of HealthEquity, Inc. (NASDAQ:HQY) by 11.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 663,862 shares of the company’s stock after selling 82,020 shares during the period. Bank of New York Mellon Corp owned about 0.77% of HealthEquity worth $58,666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Moody Aldrich Partners LLC increased its holdings in HealthEquity by 47.9% during the 1st quarter. Moody Aldrich Partners LLC now owns 67,880 shares of the company’s stock worth $5,999,000 after purchasing an additional 21,983 shares during the period. Principal Financial Group Inc. grew its stake in HealthEquity by 1.5% during the 1st quarter. Principal Financial Group Inc. now owns 266,841 shares of the company’s stock worth $23,581,000 after buying an additional 3,873 shares during the last quarter. Mutual Advisors LLC purchased a new position in HealthEquity during the 1st quarter worth $444,000. Teacher Retirement System of Texas grew its stake in HealthEquity by 25.2% during the 1st quarter. Teacher Retirement System of Texas now owns 23,829 shares of the company’s stock worth $2,106,000 after buying an additional 4,790 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new position in HealthEquity during the 1st quarter worth $20,230,000. 99.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HQY has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on HealthEquity from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 4th. KeyCorp dropped their target price on HealthEquity from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Bank of America boosted their target price on HealthEquity from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Raymond James Financial reiterated a “strong-buy” rating and set a $120.00 price target (up previously from $115.00) on shares of HealthEquity in a research note on Tuesday, July 8th. Finally, JMP Securities boosted their price target on HealthEquity from $110.00 to $117.00 and gave the company a “market outperform” rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, HealthEquity has a consensus rating of “Buy” and an average price target of $118.55.

HealthEquity Trading Down 2.7%

HQY opened at $94.52 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.06 and a current ratio of 4.06. The business’s 50 day moving average price is $100.98 and its 200 day moving average price is $98.43. HealthEquity, Inc. has a one year low of $65.01 and a one year high of $116.65. The stock has a market capitalization of $8.17 billion, a PE ratio of 68.99, a P/E/G ratio of 1.45 and a beta of 0.49.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.16. The company had revenue of $330.80 million for the quarter, compared to analysts’ expectations of $322.25 million. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%. During the same period in the prior year, the firm earned $0.80 earnings per share. As a group, equities research analysts expect that HealthEquity, Inc. will post 2.32 EPS for the current year.

Insider Transactions at HealthEquity

In related news, Director Jon Kessler sold 97,767 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $112.05, for a total transaction of $10,954,792.35. Following the transaction, the director owned 75,000 shares of the company’s stock, valued at $8,403,750. This trade represents a 56.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Elimelech Rosner sold 58,000 shares of HealthEquity stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $112.56, for a total value of $6,528,480.00. Following the completion of the sale, the executive vice president directly owned 75,689 shares in the company, valued at $8,519,553.84. This represents a 43.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 291,744 shares of company stock worth $32,705,007. Corporate insiders own 1.50% of the company’s stock.

About HealthEquity

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.