Charles Schwab Investment Management Inc. Raises Holdings in HealthEquity, Inc. (NASDAQ:HQY)

Charles Schwab Investment Management Inc. increased its position in HealthEquity, Inc. (NASDAQ:HQY) by 1.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,061,807 shares of the company’s stock after purchasing an additional 14,532 shares during the period. Charles Schwab Investment Management Inc.’s holdings in HealthEquity were worth $86,909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HQY. Clearbridge Investments LLC boosted its position in shares of HealthEquity by 1.9% during the 2nd quarter. Clearbridge Investments LLC now owns 2,377,204 shares of the company’s stock valued at $204,915,000 after acquiring an additional 43,491 shares during the last quarter. Mackenzie Financial Corp lifted its position in HealthEquity by 16.0% during the second quarter. Mackenzie Financial Corp now owns 2,364,521 shares of the company’s stock valued at $203,822,000 after purchasing an additional 325,906 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of HealthEquity by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,547,402 shares of the company’s stock worth $133,377,000 after buying an additional 115,841 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of HealthEquity by 0.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,122,057 shares of the company’s stock worth $96,721,000 after buying an additional 9,125 shares during the last quarter. Finally, Van Berkom & Associates Inc. raised its position in shares of HealthEquity by 1.8% during the 2nd quarter. Van Berkom & Associates Inc. now owns 930,168 shares of the company’s stock valued at $80,180,000 after buying an additional 16,807 shares in the last quarter. 99.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Bank of America raised their price target on HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and set a $105.00 price objective on shares of HealthEquity in a research note on Wednesday, September 4th. The Goldman Sachs Group assumed coverage on shares of HealthEquity in a research note on Friday, November 15th. They issued a “neutral” rating and a $108.00 target price on the stock. Finally, BTIG Research lifted their price target on shares of HealthEquity from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.23.

Insiders Place Their Bets

In other news, Director Robert W. Selander sold 8,250 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total value of $684,585.00. Following the completion of the transaction, the director now directly owns 54,719 shares of the company’s stock, valued at approximately $4,540,582.62. The trade was a 13.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Corvino sold 1,247 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total value of $100,084.22. Following the sale, the director now directly owns 4,823 shares in the company, valued at approximately $387,093.98. The trade was a 20.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,536 shares of company stock worth $884,517 in the last three months. Corporate insiders own 2.20% of the company’s stock.

HealthEquity Stock Down 1.1 %

Shares of NASDAQ HQY opened at $102.47 on Thursday. HealthEquity, Inc. has a 52-week low of $62.10 and a 52-week high of $105.82. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 86.18, a PEG ratio of 1.62 and a beta of 0.52. The stock has a 50 day moving average price of $88.75 and a 200 day moving average price of $82.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.10 and a current ratio of 4.10.

HealthEquity (NASDAQ:HQY) last issued its earnings results on Tuesday, September 3rd. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.16. HealthEquity had a return on equity of 9.01% and a net margin of 9.61%. The business had revenue of $299.93 million during the quarter, compared to analysts’ expectations of $284.48 million. Sell-side analysts expect that HealthEquity, Inc. will post 2.27 earnings per share for the current year.

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.