JPMorgan Chase & Co. Increases Holdings in Healthequity Inc (HQY)
JPMorgan Chase & Co. increased its position in Healthequity Inc (NASDAQ:HQY) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 992,819 shares of the company’s stock after buying an additional 31,147 shares during the period. JPMorgan Chase & Co. owned about 1.64% of Healthequity worth $49,422,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Healthequity by 105.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,544 shares of the company’s stock valued at $127,000 after buying an additional 1,308 shares during the last quarter. Riverhead Capital Management LLC raised its position in shares of Healthequity by 75.3% in the second quarter. Riverhead Capital Management LLC now owns 2,629 shares of the company’s stock valued at $131,000 after buying an additional 1,129 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Healthequity by 7.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,686 shares of the company’s stock valued at $134,000 after buying an additional 191 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new position in shares of Healthequity in the second quarter valued at approximately $138,000. Finally, D.A. Davidson & CO. raised its position in shares of Healthequity by 15.2% in the second quarter. D.A. Davidson & CO. now owns 3,326 shares of the company’s stock valued at $165,000 after buying an additional 439 shares during the last quarter. 98.60% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently issued reports on HQY. BidaskClub downgraded shares of Healthequity from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Cantor Fitzgerald restated a “buy” rating and issued a $56.00 target price on shares of Healthequity in a report on Tuesday, August 29th. Oppenheimer restated a “buy” rating and issued a $61.00 target price on shares of Healthequity in a report on Wednesday, September 6th. Robert W. Baird restated a “hold” rating on shares of Healthequity in a report on Thursday, September 21st. Finally, Zacks Investment Research upgraded shares of Healthequity from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $58.33.
Healthequity (NASDAQ:HQY) last released its quarterly earnings data on Tuesday, December 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. Healthequity had a net margin of 21.08% and a return on equity of 14.47%. The company had revenue of $56.80 million during the quarter, compared to the consensus estimate of $55.27 million. During the same period in the previous year, the firm earned $0.10 earnings per share. Healthequity’s revenue for the quarter was up 31.0% on a year-over-year basis. analysts forecast that Healthequity Inc will post 0.71 EPS for the current fiscal year.
In other news, insider Stephen Neeleman sold 8,500 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $45.24, for a total value of $384,540.00. Following the completion of the transaction, the insider now directly owns 1,000 shares in the company, valued at $45,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Medici sold 419,504 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $52.97, for a total transaction of $22,221,126.88. Following the completion of the transaction, the director now owns 6,381 shares of the company’s stock, valued at $338,001.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,743,212 shares of company stock valued at $91,145,351. 29.00% of the stock is owned by insiders.
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HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.
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