Bessemer Group Inc. Increases Position in HealthEquity, Inc. (NASDAQ:HQY)

Bessemer Group Inc. lifted its holdings in shares of HealthEquity, Inc. (NASDAQ:HQY) by 34.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 400,394 shares of the company’s stock after acquiring an additional 103,566 shares during the quarter. Bessemer Group Inc. owned 0.46% of HealthEquity worth $35,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Pier Capital LLC bought a new position in HealthEquity in the 4th quarter valued at $8,024,000. HighTower Advisors LLC boosted its holdings in shares of HealthEquity by 4.8% in the 4th quarter. HighTower Advisors LLC now owns 95,075 shares of the company’s stock worth $9,122,000 after buying an additional 4,370 shares during the last quarter. Wells Fargo & Company MN grew its position in HealthEquity by 4.7% during the fourth quarter. Wells Fargo & Company MN now owns 124,940 shares of the company’s stock valued at $11,988,000 after buying an additional 5,594 shares during the period. Geneva Capital Management LLC increased its holdings in HealthEquity by 24.6% during the fourth quarter. Geneva Capital Management LLC now owns 1,048,903 shares of the company’s stock worth $100,642,000 after buying an additional 206,894 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in HealthEquity by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,086,811 shares of the company’s stock worth $104,280,000 after acquiring an additional 25,004 shares during the period. 99.55% of the stock is owned by hedge funds and other institutional investors.

HealthEquity Stock Performance

Shares of HQY opened at $103.97 on Thursday. The stock’s 50-day simple moving average is $97.20 and its 200 day simple moving average is $97.90. The stock has a market capitalization of $8.99 billion, a price-to-earnings ratio of 75.89, a price-to-earnings-growth ratio of 1.59 and a beta of 0.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.06 and a current ratio of 4.06. HealthEquity, Inc. has a 52-week low of $65.01 and a 52-week high of $116.65.

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

Insider Activity

In related news, Director Jon Kessler sold 134,183 shares of HealthEquity stock in a transaction on Friday, June 6th. The stock was sold at an average price of $112.08, for a total transaction of $15,039,230.64. Following the completion of the sale, the director now owns 253,510 shares of the company’s stock, valued at approximately $28,413,400.80. This trade represents a 34.61% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 stock was sold at an average price of $112.56, for a total value of $6,528,480.00. Following the completion of the transaction, the executive vice president now owns 75,689 shares in the company, valued at $8,519,553.84. This represents a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,581 shares of company stock worth $33,664,018 in the last three months. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HQY. Wells Fargo & Company increased their target price on shares of HealthEquity from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Wall Street Zen upgraded HealthEquity from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Raymond James Financial raised HealthEquity from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $120.00 to $115.00 in a research report on Tuesday, March 25th. JMP Securities boosted their target price on HealthEquity from $110.00 to $117.00 and gave the company a “market outperform” rating in a research note on Wednesday, June 4th. Finally, The Goldman Sachs Group increased their price target on HealthEquity from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 4th. One investment 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $118.09.

HealthEquity Profile

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.