Convergence Investment Partners LLC Makes New Investment in HealthEquity, Inc. (NASDAQ:HQY)

Convergence Investment Partners LLC bought a new position in shares of HealthEquity, Inc. (NASDAQ:HQY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,262 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in HealthEquity by 65.6% during the 4th quarter. UMB Bank n.a. now owns 414 shares of the company’s stock worth $40,000 after buying an additional 164 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of HealthEquity by 32.9% in the 4th quarter. GAMMA Investing LLC now owns 1,248 shares of the company’s stock valued at $120,000 after purchasing an additional 309 shares in the last quarter. Quarry LP raised its holdings in shares of HealthEquity by 418.8% in the 3rd quarter. Quarry LP now owns 1,349 shares of the company’s stock valued at $110,000 after purchasing an additional 1,089 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of HealthEquity in the 3rd quarter valued at $112,000. Finally, Covestor Ltd raised its holdings in shares of HealthEquity by 27.4% in the 3rd quarter. Covestor Ltd now owns 1,524 shares of the company’s stock valued at $125,000 after purchasing an additional 328 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.

HealthEquity Stock Up 0.4 %

HQY stock opened at $113.74 on Thursday. HealthEquity, Inc. has a one year low of $65.01 and a one year high of $115.59. The stock has a market capitalization of $9.86 billion, a PE ratio of 104.35, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.20 and a current ratio of 3.20. The company has a fifty day moving average of $103.06 and a 200-day moving average of $91.63.

HealthEquity (NASDAQ:HQY) last released its earnings results on Monday, December 9th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.12). HealthEquity had a return on equity of 9.70% and a net margin of 8.41%. During the same quarter last year, the firm posted $0.40 earnings per share. As a group, analysts expect that HealthEquity, Inc. will post 2.32 EPS for the current year.

Insider Transactions at HealthEquity

In related news, Director Stuart B. Parker sold 25,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $96.72, for a total value of $2,418,000.00. Following the completion of the sale, the director now owns 19,061 shares in the company, valued at $1,843,579.92. This trade represents a 56.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Selander sold 5,750 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $111.29, for a total transaction of $639,917.50. Following the completion of the sale, the director now owns 78,219 shares of the company’s stock, valued at $8,704,992.51. This trade represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,000 shares of company stock worth $3,895,788. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

HQY has been the topic of a number of analyst reports. JMP Securities raised their price objective on shares of HealthEquity from $105.00 to $107.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. BTIG Research increased their target price on shares of HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada increased their target price on shares of HealthEquity from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Barrington Research increased their target price on shares of HealthEquity from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group started coverage on shares of HealthEquity in a research report on Friday, November 15th. They issued a “neutral” rating and a $108.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, HealthEquity has an average rating of “Moderate Buy” and an average price target of $110.71.

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.