Tygh Capital Management Inc. bought a new position in shares of Healthequity Inc (NASDAQ:HQY) during the fourth quarter, HoldingsChannel.com reports. The firm bought 59,422 shares of the company’s stock, valued at approximately $2,773,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation bought a new stake in Healthequity during the 3rd quarter worth approximately $119,000. CIBC Asset Management Inc bought a new stake in Healthequity during the 3rd quarter worth approximately $208,000. 1st Global Advisors Inc. bought a new stake in Healthequity during the 2nd quarter worth approximately $213,000. Fortaleza Asset Management Inc. raised its stake in Healthequity by 56.0% during the 3rd quarter. Fortaleza Asset Management Inc. now owns 4,330 shares of the company’s stock worth $219,000 after acquiring an additional 1,555 shares during the period. Finally, Shelton Capital Management bought a new stake in Healthequity during the 2nd quarter worth approximately $217,000. Institutional investors own 98.20% of the company’s stock.
In related news, Director Frank Medici sold 13,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $52.14, for a total value of $677,820.00. Following the completion of the transaction, the director now directly owns 6,381 shares of the company’s stock, valued at $332,705.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Berkley Capital, Llc sold 77,221 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $51.31, for a total transaction of $3,962,209.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 371,426 shares of company stock valued at $18,749,703. 29.00% of the stock is currently owned by insiders.
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, beating the consensus estimate of $0.13 by $0.04. The firm had revenue of $56.80 million for the quarter, compared to analysts’ expectations of $55.27 million. Healthequity had a net margin of 21.08% and a return on equity of 14.47%. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 earnings per share. equities analysts expect that Healthequity Inc will post 0.73 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on HQY shares. Zacks Investment Research upgraded shares of Healthequity from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Wednesday, October 11th. BidaskClub upgraded shares of Healthequity from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Cantor Fitzgerald reiterated a “buy” rating and set a $56.00 price objective on shares of Healthequity in a research report on Tuesday, December 5th. Citigroup started coverage on shares of Healthequity in a research report on Thursday, January 4th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Healthequity from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $57.17.
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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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