Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in HealthEquity, Inc. (NASDAQ:HQY)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in HealthEquity, Inc. (NASDAQ:HQY) by 9.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,166 shares of the company’s stock after buying an additional 192 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in HealthEquity were worth $191,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HQY. Ontario Teachers Pension Plan Board purchased a new position in HealthEquity in the first quarter valued at $745,000. Charles Schwab Investment Management Inc. boosted its position in shares of HealthEquity by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,100,970 shares of the company’s stock worth $97,293,000 after acquiring an additional 14,159 shares in the last quarter. New Age Alpha Advisors LLC boosted its position in shares of HealthEquity by 755.8% during the 1st quarter. New Age Alpha Advisors LLC now owns 22,175 shares of the company’s stock worth $1,960,000 after acquiring an additional 19,584 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of HealthEquity during the 1st quarter worth about $49,787,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of HealthEquity by 47.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,063 shares of the company’s stock worth $1,154,000 after acquiring an additional 4,183 shares in the last quarter. Hedge funds and other institutional investors own 99.55% of the company’s stock.

HealthEquity Stock Down 2.1%

HQY stock opened at $87.43 on Friday. The company has a market cap of $7.56 billion, a P/E ratio of 63.82, a P/E/G ratio of 1.38 and a beta of 0.54. HealthEquity, Inc. has a 52 week low of $71.33 and a 52 week high of $116.65. The company’s 50-day moving average price is $98.86 and its 200 day moving average price is $97.47. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 0.50.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.16. The firm had revenue of $330.80 million for the quarter, compared to the consensus estimate of $322.25 million. HealthEquity had a net margin of 9.80% and a return on equity of 11.01%. During the same quarter in the previous year, the firm earned $0.80 earnings per share. On average, research analysts expect that HealthEquity, Inc. will post 2.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank Of Canada upped their price objective on HealthEquity from $112.00 to $117.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. Barrington Research upped their price objective on HealthEquity from $112.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, June 5th. Raymond James Financial reiterated a “strong-buy” rating and set a $120.00 price target (up from $115.00) on shares of HealthEquity in a research note on Tuesday, July 8th. The Goldman Sachs Group lifted their price target on shares of HealthEquity from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen upgraded shares of HealthEquity from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $118.55.

Insider Buying and Selling at HealthEquity

In other HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of the company’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $101.73, for a total value of $182,503.62. Following the sale, the executive vice president owned 53,225 shares of the company’s stock, valued at $5,414,579.25. This represents a 3.26% 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, EVP Elimelech Rosner sold 58,000 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $112.56, for a total transaction of $6,528,480.00. Following the completion of the sale, the executive vice president directly owned 75,689 shares in the company, valued at $8,519,553.84. This trade represents a 43.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 291,744 shares of company stock valued at $32,705,007 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

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.