Cornercap Investment Counsel Inc. Increases Stock Position in HealthEquity, Inc. (NASDAQ:HQY)

Cornercap Investment Counsel Inc. raised its holdings in HealthEquity, Inc. (NASDAQ:HQY) by 89.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,193 shares of the company’s stock after purchasing an additional 8,120 shares during the period. Cornercap Investment Counsel Inc.’s holdings in HealthEquity were worth $1,140,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of HQY. PNC Financial Services Group Inc. lifted its stake in shares of HealthEquity by 31.8% during the first quarter. PNC Financial Services Group Inc. now owns 13,547 shares of the company’s stock valued at $913,000 after buying an additional 3,266 shares during the period. AlphaCrest Capital Management LLC purchased a new position in shares of HealthEquity during the first quarter valued at approximately $234,000. Natixis Advisors L.P. purchased a new position in shares of HealthEquity during the first quarter valued at approximately $932,000. Bank of Montreal Can lifted its stake in shares of HealthEquity by 44.5% during the first quarter. Bank of Montreal Can now owns 8,218 shares of the company’s stock valued at $553,000 after buying an additional 2,532 shares during the period. Finally, Rhumbline Advisers raised its stake in HealthEquity by 2.2% during the first quarter. Rhumbline Advisers now owns 231,307 shares of the company’s stock worth $15,599,000 after purchasing an additional 4,880 shares during the period. Hedge funds and other institutional investors own 99.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HQY shares. Royal Bank of Canada increased their price target on shares of HealthEquity from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. JMP Securities began coverage on shares of HealthEquity in a report on Thursday, April 4th. They set a “mkt outperform” rating and a $101.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of HealthEquity from $86.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. KeyCorp raised their price target on shares of HealthEquity from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Finally, Barclays raised their price target on shares of HealthEquity from $84.00 to $104.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.17.

HealthEquity Stock Up 1.1 %

HQY stock traded up $0.90 during mid-day trading on Monday, hitting $80.75. 36,723 shares of the company were exchanged, compared to its average volume of 602,766. The company has a market capitalization of $6.93 billion, a PE ratio of 124.77, a price-to-earnings-growth ratio of 1.30 and a beta of 0.53. The company has a current ratio of 4.76, a quick ratio of 4.76 and a debt-to-equity ratio of 0.43. HealthEquity, Inc. has a twelve month low of $48.86 and a twelve month high of $84.49. The firm has a fifty day simple moving average of $80.84 and a 200 day simple moving average of $74.04.

HealthEquity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, March 19th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. The company had revenue of $262.39 million during the quarter, compared to analyst estimates of $258.56 million. HealthEquity had a net margin of 5.57% and a return on equity of 6.91%. On average, research analysts forecast that HealthEquity, Inc. will post 2.12 earnings per share for the current fiscal year.

Insider Transactions at HealthEquity

In other news, Director Evelyn S. Dilsaver sold 32,500 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $79.29, for a total value of $2,576,925.00. Following the transaction, the director now directly owns 32,123 shares in the company, valued at approximately $2,547,032.67. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Jon Kessler sold 33,765 shares of HealthEquity stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $79.81, for a total value of $2,694,784.65. Following the sale, the chief executive officer now directly owns 126,635 shares in the company, valued at approximately $10,106,739.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Evelyn S. Dilsaver sold 32,500 shares of HealthEquity stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $79.29, for a total transaction of $2,576,925.00. Following the completion of the sale, the director now owns 32,123 shares in the company, valued at $2,547,032.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,322 shares of company stock worth $5,682,895. 2.70% of the stock is currently owned by insiders.

HealthEquity Company 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.