CIBC Private Wealth Group LLC Cuts Stake in Healthequity Inc (HQY)

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CIBC Private Wealth Group LLC decreased its holdings in Healthequity Inc (NASDAQ:HQY) by 2.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 135,545 shares of the company’s stock after selling 3,980 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.22% of Healthequity worth $8,085,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in HQY. Legacy Financial Advisors Inc. bought a new position in Healthequity in the 4th quarter worth $28,000. Duncker Streett & Co. Inc. bought a new position in Healthequity in the 4th quarter worth $30,000. Advisors Asset Management Inc. raised its holdings in Healthequity by 57.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,136 shares of the company’s stock worth $160,000 after purchasing an additional 779 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Healthequity in the 3rd quarter worth $172,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Healthequity in the 3rd quarter worth $210,000. 94.07% of the stock is owned by institutional investors.

In related news, Director Frank Corvino sold 1,778 shares of the stock in a transaction dated Monday, December 10th. The shares were sold at an average price of $67.78, for a total transaction of $120,512.84. Following the sale, the director now directly owns 5,051 shares of the company’s stock, valued at approximately $342,356.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Darcy G. Mott sold 4,000 shares of the stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $76.91, for a total transaction of $307,640.00. Following the sale, the vice president now directly owns 89,500 shares in the company, valued at $6,883,445. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,846 shares of company stock valued at $1,058,948. 4.00% of the stock is owned by company insiders.

Several research analysts have commented on HQY shares. Wells Fargo & Co decreased their price objective on shares of Healthequity from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, December 7th. SunTrust Banks lowered shares of Healthequity from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $105.00 to $90.00 in a report on Thursday, December 6th. Zacks Investment Research restated a “buy” rating and issued a $66.00 price objective on shares of Healthequity in a report on Monday, December 31st. Citigroup set a $102.00 price objective on shares of Healthequity and gave the stock a “buy” rating in a report on Tuesday, January 8th. Finally, BidaskClub lowered shares of Healthequity from a “buy” rating to a “hold” rating in a report on Friday, December 7th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $89.62.

Shares of Healthequity stock opened at $74.91 on Thursday. The stock has a market capitalization of $4.61 billion, a P/E ratio of 138.72, a price-to-earnings-growth ratio of 2.41 and a beta of 1.64. Healthequity Inc has a 1 year low of $47.33 and a 1 year high of $101.58.

Healthequity (NASDAQ:HQY) last issued its quarterly earnings results on Tuesday, December 4th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The company had revenue of $70.50 million during the quarter, compared to analyst estimates of $69.60 million. Healthequity had a net margin of 24.52% and a return on equity of 12.42%. Healthequity’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period last year, the business earned $0.17 EPS. On average, analysts anticipate that Healthequity Inc will post 0.91 earnings per share for the current year.

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About Healthequity

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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