Simplify Asset Management Inc. Buys 11,524 Shares of HealthEquity, Inc. $HQY

Simplify Asset Management Inc. raised its stake in shares of HealthEquity, Inc. (NASDAQ:HQY) by 72.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 27,329 shares of the company’s stock after acquiring an additional 11,524 shares during the quarter. Simplify Asset Management Inc.’s holdings in HealthEquity were worth $2,504,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Xponance Inc. increased its holdings in shares of HealthEquity by 0.8% during the 3rd quarter. Xponance Inc. now owns 12,265 shares of the company’s stock worth $1,162,000 after purchasing an additional 102 shares during the period. Truist Financial Corp increased its holdings in shares of HealthEquity by 4.9% during the 4th quarter. Truist Financial Corp now owns 2,537 shares of the company’s stock worth $232,000 after purchasing an additional 119 shares during the period. Fiduciary Trust Co increased its holdings in shares of HealthEquity by 3.4% during the 3rd quarter. Fiduciary Trust Co now owns 3,669 shares of the company’s stock worth $348,000 after purchasing an additional 120 shares during the period. Larson Financial Group LLC increased its holdings in shares of HealthEquity by 24.4% during the 3rd quarter. Larson Financial Group LLC now owns 628 shares of the company’s stock worth $60,000 after purchasing an additional 123 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of HealthEquity by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 1,944 shares of the company’s stock worth $178,000 after purchasing an additional 168 shares during the period. Institutional investors own 99.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HQY. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of HealthEquity from $120.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Raymond James Financial set a $100.00 price objective on shares of HealthEquity in a report on Tuesday, February 17th. Jefferies Financial Group set a $108.00 price objective on shares of HealthEquity in a report on Thursday, February 19th. UBS Group set a $110.00 target price on shares of HealthEquity in a research report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. decreased their target price on shares of HealthEquity from $129.00 to $123.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.79.

HealthEquity Price Performance

Shares of HealthEquity stock opened at $88.11 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.27 and a current ratio of 3.27. The firm’s 50-day simple moving average is $82.48 and its 200-day simple moving average is $86.92. HealthEquity, Inc. has a twelve month low of $72.76 and a twelve month high of $116.65. The firm has a market cap of $7.39 billion, a P/E ratio of 35.82, a price-to-earnings-growth ratio of 1.60 and a beta of 0.19.

HealthEquity (NASDAQ:HQY) last issued its earnings results on Tuesday, March 17th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The business had revenue of $334.59 million for the quarter, compared to analyst estimates of $332.48 million. HealthEquity had a net margin of 16.39% and a return on equity of 13.86%. HealthEquity’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts expect that HealthEquity, Inc. will post 3.84 EPS for the current fiscal year.

About HealthEquity

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.