Commerce Bank Invests $633,000 in HealthEquity, Inc. $HQY

Commerce Bank bought a new stake in shares of HealthEquity, Inc. (NASDAQ:HQY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,003 shares of the company’s stock, valued at approximately $633,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Acumen Wealth Advisors LLC bought a new position in shares of HealthEquity in the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd boosted its position in HealthEquity by 1,723.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 310 shares of the company’s stock valued at $28,000 after purchasing an additional 293 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in HealthEquity during the fourth quarter valued at about $28,000. Leonteq Securities AG grew its stake in HealthEquity by 159.9% in the first quarter. Leonteq Securities AG now owns 382 shares of the company’s stock valued at $32,000 after purchasing an additional 235 shares during the last quarter. Finally, Axiom Investment Management LLC purchased a new position in HealthEquity in the first quarter valued at about $33,000. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at HealthEquity

In other news, EVP Michael Henry Fiore sold 2,354 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $95.00, for a total value of $223,630.00. Following the sale, the executive vice president owned 52,244 shares in the company, valued at $4,963,180. This represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 7,966 shares of company stock valued at $756,770. 1.60% of the stock is owned by corporate insiders.

HealthEquity Price Performance

Shares of NASDAQ HQY opened at $104.42 on Thursday. HealthEquity, Inc. has a 52 week low of $72.76 and a 52 week high of $107.62. The business’s 50 day moving average price is $97.77 and its 200 day moving average price is $87.71. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.46. The firm has a market cap of $8.73 billion, a P/E ratio of 39.11, a P/E/G ratio of 1.77 and a beta of 0.21.

HealthEquity (NASDAQ:HQY) last posted its quarterly earnings results on Thursday, May 28th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.13. HealthEquity had a net margin of 17.25% and a return on equity of 14.75%. The company had revenue of $354.64 million during the quarter, compared to analyst estimates of $352.02 million. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts expect that HealthEquity, Inc. will post 3.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on HQY. Wall Street Zen upgraded shares of HealthEquity from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Citizens Jmp lifted their price objective on shares of HealthEquity from $110.00 to $111.00 and gave the stock a “market outperform” rating in a research report on Monday, June 1st. Weiss Ratings upgraded shares of HealthEquity from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 5th. Citigroup reiterated a “market outperform” rating on shares of HealthEquity in a research note on Monday, June 1st. Finally, Wells Fargo & Company set a $111.00 target price on shares of HealthEquity in a research report on Monday, June 1st. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.93.

HealthEquity Company Profile

HealthEquity, Inc (NASDAQ: HQY) is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.