Healthequity (NASDAQ:HQY) Sees Large Volume Increase After Strong Earnings

Healthequity Inc (NASDAQ:HQY) shares saw an uptick in trading volume on Wednesday following a stronger than expected earnings report. 3,270,041 shares traded hands during trading, an increase of 259% from the previous session’s volume of 911,553 shares.The stock last traded at $63.32 and had previously closed at $61.24.

The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.33. The company had revenue of $157.12 million for the quarter, compared to analyst estimates of $152.38 million. Healthequity had a net margin of 28.13% and a return on equity of 11.77%. The business’s quarterly revenue was up 122.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share.

A number of research firms have recently issued reports on HQY. Bank of America set a $79.00 price objective on shares of Healthequity and gave the company a “buy” rating in a research note on Wednesday, September 4th. Cantor Fitzgerald reissued a “buy” rating and set a $95.00 price target on shares of Healthequity in a report on Wednesday. Deutsche Bank started coverage on shares of Healthequity in a report on Thursday, September 12th. They set a “buy” rating and a $74.00 price target for the company. BidaskClub raised shares of Healthequity from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $77.00 price objective (up previously from $70.00) on shares of Healthequity in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $77.86.

In other Healthequity news, CFO Darcy G. Mott sold 4,000 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $56.90, for a total transaction of $227,600.00. Following the sale, the chief financial officer now owns 42,000 shares in the company, valued at approximately $2,389,800. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 12,000 shares of company stock worth $715,600. Corporate insiders own 3.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of HQY. BlackRock Inc. boosted its position in Healthequity by 13.1% during the second quarter. BlackRock Inc. now owns 7,268,685 shares of the company’s stock worth $475,373,000 after purchasing an additional 840,177 shares during the period. Vanguard Group Inc. grew its stake in Healthequity by 2.5% in the second quarter. Vanguard Group Inc. now owns 5,646,295 shares of the company’s stock valued at $369,268,000 after purchasing an additional 138,020 shares in the last quarter. State Street Corp grew its stake in Healthequity by 18.7% in the third quarter. State Street Corp now owns 2,189,161 shares of the company’s stock valued at $125,100,000 after purchasing an additional 344,173 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Healthequity by 13.7% during the 2nd quarter. Invesco Ltd. now owns 2,140,851 shares of the company’s stock worth $140,012,000 after acquiring an additional 258,769 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Healthequity by 13.9% during the 2nd quarter. Janus Henderson Group PLC now owns 2,057,831 shares of the company’s stock worth $134,582,000 after acquiring an additional 250,692 shares during the period. Hedge funds and other institutional investors own 95.84% of the company’s stock.

The company has a current ratio of 22.98, a quick ratio of 22.98 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average price of $59.78 and a 200 day moving average price of $64.21. The company has a market capitalization of $4.44 billion, a P/E ratio of 66.65, a P/E/G ratio of 2.87 and a beta of 1.47.

Healthequity Company Profile (NASDAQ:HQY)

HealthEquity, Inc provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States. The company offers healthcare saving and spending platform, a cloud-based platform for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.

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