Bank of New York Mellon Corp Acquires 98,994 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Bank of New York Mellon Corp lifted its stake in HealthEquity, Inc. (NASDAQ:HQY) by 12.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 901,174 shares of the company’s stock after acquiring an additional 98,994 shares during the period. Bank of New York Mellon Corp owned approximately 1.04% of HealthEquity worth $77,681,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Retirement Systems of Alabama increased its holdings in shares of HealthEquity by 0.5% during the 4th quarter. Retirement Systems of Alabama now owns 107,243 shares of the company’s stock worth $7,110,000 after purchasing an additional 522 shares during the period. Victory Capital Management Inc. boosted its stake in HealthEquity by 68.9% during the fourth quarter. Victory Capital Management Inc. now owns 413,732 shares of the company’s stock worth $27,430,000 after buying an additional 168,819 shares in the last quarter. MeadowBrook Investment Advisors LLC bought a new stake in HealthEquity in the 4th quarter valued at $292,000. Charles Schwab Investment Management Inc. raised its stake in shares of HealthEquity by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,002,283 shares of the company’s stock valued at $66,451,000 after buying an additional 21,766 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of HealthEquity by 8.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,409,740 shares of the company’s stock worth $93,466,000 after acquiring an additional 108,108 shares during the period. Institutional investors own 99.55% of the company’s stock.

HealthEquity Stock Performance

Shares of HealthEquity stock opened at $77.09 on Friday. HealthEquity, Inc. has a 52 week low of $61.81 and a 52 week high of $88.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.39 and a current ratio of 4.39. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 83.79, a PEG ratio of 1.31 and a beta of 0.57. The firm has a fifty day moving average of $77.55 and a two-hundred day moving average of $79.73.

HealthEquity (NASDAQ:HQY) last released its earnings results on Monday, June 3rd. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.08. HealthEquity had a return on equity of 7.77% and a net margin of 7.71%. The firm had revenue of $287.60 million for the quarter, compared to analyst estimates of $278.78 million. As a group, equities research analysts predict that HealthEquity, Inc. will post 2.12 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barrington Research upped their target price on shares of HealthEquity from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, June 4th. Raymond James increased their target price on HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Bank of America reiterated a “buy” rating and set a $105.00 price objective on shares of HealthEquity in a research note on Wednesday, July 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price objective on shares of HealthEquity in a report on Tuesday, June 4th. Finally, KeyCorp boosted their target price on shares of HealthEquity from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.67.

Insider Buying and Selling

In other HealthEquity news, Vice Chairman Stephen Neeleman sold 2,080 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $85.01, for a total value of $176,820.80. Following the completion of the sale, the insider now owns 90,515 shares of the company’s stock, valued at $7,694,680.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jon Kessler sold 32,326 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $82.83, for a total transaction of $2,677,562.58. Following the sale, the chief executive officer now owns 232,176 shares of the company’s stock, valued at $19,231,138.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Stephen Neeleman sold 2,080 shares of HealthEquity stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $85.01, for a total value of $176,820.80. Following the transaction, the insider now owns 90,515 shares in the company, valued at approximately $7,694,680.15. The disclosure for this sale can be found here. Insiders have sold 77,511 shares of company stock valued at $6,314,446 in the last 90 days. 2.20% of the stock is owned by insiders.

About HealthEquity

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.