NJ State Employees Deferred Compensation Plan Purchases New Position in Healthequity Inc (NASDAQ:HQY)

NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Healthequity Inc (NASDAQ:HQY) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,000 shares of the company’s stock, valued at approximately $327,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Convergence Investment Partners LLC raised its position in Healthequity by 592.3% in the second quarter. Convergence Investment Partners LLC now owns 24,550 shares of the company’s stock worth $1,606,000 after acquiring an additional 21,004 shares during the period. Moody Lynn & Lieberson LLC raised its position in Healthequity by 11.2% in the second quarter. Moody Lynn & Lieberson LLC now owns 120,123 shares of the company’s stock worth $7,856,000 after acquiring an additional 12,080 shares during the period. Strategic Advisors LLC raised its position in Healthequity by 57.3% in the second quarter. Strategic Advisors LLC now owns 6,809 shares of the company’s stock worth $445,000 after acquiring an additional 2,481 shares during the period. AE Wealth Management LLC increased its stake in shares of Healthequity by 64.2% in the second quarter. AE Wealth Management LLC now owns 6,903 shares of the company’s stock worth $451,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new stake in shares of Healthequity in the second quarter worth $329,000. Institutional investors own 96.49% of the company’s stock.

In other Healthequity news, CEO Jon Kessler acquired 10,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was acquired at an average cost of $61.00 per share, with a total value of $610,000.00. Following the purchase, the chief executive officer now directly owns 442,410 shares of the company’s stock, valued at approximately $26,987,010. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Darcy G. Mott sold 4,000 shares of Healthequity stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $79.56, for a total transaction of $318,240.00. Following the completion of the transaction, the vice president now directly owns 54,000 shares of the company’s stock, valued at $4,296,240. The disclosure for this sale can be found here. Insiders sold a total of 37,899 shares of company stock valued at $2,780,851 over the last three months. Corporate insiders own 3.70% of the company’s stock.

A number of analysts have recently issued reports on HQY shares. Zacks Investment Research raised shares of Healthequity from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 21st. Bank of America raised shares of Healthequity from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $90.00 in a research note on Friday, July 19th. Raymond James increased their price objective on shares of Healthequity from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. set a $80.00 price objective on shares of Healthequity and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. Finally, ValuEngine raised shares of Healthequity from a “hold” rating to a “buy” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $87.92.

HQY traded down $2.76 during trading on Monday, hitting $76.15. 20,510 shares of the company traded hands, compared to its average volume of 1,483,210. The company has a market cap of $4.95 billion, a P/E ratio of 80.64, a PEG ratio of 3.88 and a beta of 1.46. The stock has a 50-day moving average price of $71.39. Healthequity Inc has a 1 year low of $50.29 and a 1 year high of $101.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.59 and a current ratio of 15.60.

Healthequity (NASDAQ:HQY) last issued its quarterly earnings data on Tuesday, June 4th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.11. Healthequity had a net margin of 30.60% and a return on equity of 14.17%. The business had revenue of $87.05 million during the quarter, compared to analysts’ expectations of $83.98 million. Analysts anticipate that Healthequity Inc will post 1.01 earnings per share for the current fiscal year.

Healthequity Company Profile

HealthEquity, Inc provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States. The company offers healthcare saving and spending platform, a cloud-based platform for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.

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Institutional Ownership by Quarter for Healthequity (NASDAQ:HQY)

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