Wells Fargo & Company Raises HealthEquity (NASDAQ:HQY) Price Target to $107.00

HealthEquity (NASDAQ:HQY) had its target price hoisted by Wells Fargo & Company from $105.00 to $107.00 in a report released on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on HQY. BTIG Research increased their price target on shares of HealthEquity from $100.00 to $110.00 and gave the stock a buy rating in a report on Wednesday, March 20th. KeyCorp upped their price objective on HealthEquity from $85.00 to $95.00 and gave the stock an overweight rating in a research report on Friday, March 22nd. JMP Securities increased their target price on HealthEquity from $101.00 to $105.00 and gave the company a market outperform rating in a research report on Tuesday. Barclays increased their target price on HealthEquity from $84.00 to $104.00 and gave the company an overweight rating in a research report on Friday, February 23rd. Finally, Royal Bank of Canada reiterated an outperform rating and set a $92.00 target price on shares of HealthEquity in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $101.42.

HealthEquity Stock Performance

HQY opened at $85.25 on Tuesday. HealthEquity has a 52-week low of $59.02 and a 52-week high of $85.79. The company has a quick ratio of 4.76, a current ratio of 4.39 and a debt-to-equity ratio of 0.44. The company has a market cap of $7.42 billion, a P/E ratio of 92.66, a price-to-earnings-growth ratio of 1.44 and a beta of 0.55. The firm’s 50-day moving average price is $79.79 and its 200-day moving average price is $76.23.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings results on Tuesday, March 19th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. HealthEquity had a net margin of 7.71% and a return on equity of 7.77%. The company had revenue of $262.39 million for the quarter, compared to the consensus estimate of $258.56 million. As a group, equities analysts anticipate that HealthEquity will post 2.11 EPS for the current fiscal year.

Insider Activity at HealthEquity

In related news, Vice Chairman Stephen Neeleman sold 400 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $85.00, for a total value of $34,000.00. Following the completion of the transaction, the insider now directly owns 90,515 shares of the company’s stock, valued at approximately $7,693,775. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other HealthEquity news, Director Evelyn S. Dilsaver sold 32,500 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $79.29, for a total value of $2,576,925.00. Following the completion of the sale, the director now directly owns 32,123 shares of the company’s stock, valued at approximately $2,547,032.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Stephen Neeleman sold 400 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $85.00, for a total value of $34,000.00. Following the completion of the sale, the insider now directly owns 90,515 shares of the company’s stock, valued at $7,693,775. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,665 shares of company stock valued at $5,305,710. 2.20% of the stock is owned by insiders.

Institutional Trading of HealthEquity

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farallon Capital Management LLC acquired a new stake in shares of HealthEquity during the 1st quarter worth about $229,000. Hancock Whitney Corp acquired a new stake in shares of HealthEquity during the 1st quarter worth about $1,073,000. Grandeur Peak Global Advisors LLC increased its position in shares of HealthEquity by 2,377.1% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 58,980 shares of the company’s stock worth $4,815,000 after purchasing an additional 56,599 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of HealthEquity by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,100,715 shares of the company’s stock worth $89,851,000 after purchasing an additional 12,448 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of HealthEquity by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,384 shares of the company’s stock worth $4,195,000 after purchasing an additional 3,365 shares during the last quarter. 99.55% of the stock is owned by institutional investors and hedge funds.

About HealthEquity

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.