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

Cornercap Investment Counsel Inc. reduced its stake in shares of HealthEquity, Inc. (NASDAQ:HQY) by 57.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,405 shares of the company’s stock after selling 9,799 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in HealthEquity were worth $606,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HQY. Truist Financial Corp lifted its holdings in HealthEquity by 7.0% in the 2nd quarter. Truist Financial Corp now owns 2,864 shares of the company’s stock worth $247,000 after buying an additional 188 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of HealthEquity by 3.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 5,219 shares of the company’s stock worth $426,000 after acquiring an additional 197 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in HealthEquity by 7.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,854 shares of the company’s stock valued at $246,000 after purchasing an additional 198 shares during the last quarter. Elk River Wealth Management LLC grew its stake in HealthEquity by 0.3% during the 3rd quarter. Elk River Wealth Management LLC now owns 66,181 shares of the company’s stock valued at $5,417,000 after purchasing an additional 217 shares in the last quarter. Finally, CWM LLC increased its holdings in HealthEquity by 6.9% during the 2nd quarter. CWM LLC now owns 3,958 shares of the company’s stock worth $341,000 after purchasing an additional 255 shares during the last quarter. 99.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at HealthEquity

In other news, Director Robert W. Selander sold 8,250 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total transaction of $684,585.00. Following the transaction, the director now directly owns 54,719 shares of the company’s stock, valued at approximately $4,540,582.62. This trade represents a 13.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Corvino sold 1,039 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total transaction of $99,847.90. Following the completion of the sale, the director now directly owns 3,784 shares of the company’s stock, valued at $363,642.40. The trade was a 21.54 % 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 ninety days. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on HQY. JMP Securities reiterated a “market outperform” rating and set a $105.00 target price on shares of HealthEquity in a research note on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price objective on shares of HealthEquity in a report on Wednesday, September 4th. The Goldman Sachs Group assumed coverage on shares of HealthEquity in a research note on Friday. They issued a “neutral” rating and a $108.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Bank of America upped their price objective on HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.23.

HealthEquity Stock Up 3.4 %

Shares of HealthEquity stock opened at $98.98 on Friday. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 82.48, a PEG ratio of 1.48 and a beta of 0.52. HealthEquity, Inc. has a twelve month low of $62.10 and a twelve month high of $101.17. The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 0.51. The business’s 50 day simple moving average is $85.02 and its 200-day simple moving average is $81.07.

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. The firm had revenue of $299.93 million for the quarter, compared to analyst estimates of $284.48 million. HealthEquity had a return on equity of 9.01% and a net margin of 9.61%. Equities research analysts forecast 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.