Pier Capital LLC Buys Shares of 83,625 HealthEquity, Inc. (NASDAQ:HQY)

Pier Capital LLC purchased a new position in HealthEquity, Inc. (NASDAQ:HQY) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 83,625 shares of the company’s stock, valued at approximately $8,024,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its stake in HealthEquity by 34.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 384 shares of the company’s stock valued at $37,000 after purchasing an additional 98 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of HealthEquity by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 24,200 shares of the company’s stock worth $2,322,000 after buying an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of HealthEquity by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 17,776 shares of the company’s stock worth $1,706,000 after acquiring an additional 100 shares in the last quarter. State of Michigan Retirement System lifted its position in HealthEquity by 0.5% during the fourth quarter. State of Michigan Retirement System now owns 20,722 shares of the company’s stock valued at $1,988,000 after acquiring an additional 100 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in HealthEquity by 0.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,286 shares of the company’s stock valued at $1,850,000 after acquiring an additional 106 shares in the last quarter. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

HealthEquity Stock Up 6.4 %

HQY stock opened at $90.32 on Tuesday. HealthEquity, Inc. has a fifty-two week low of $65.01 and a fifty-two week high of $115.59. The company’s 50 day moving average price is $104.67 and its 200 day moving average price is $95.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.20 and a current ratio of 3.20. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 82.86, a PEG ratio of 1.60 and a beta of 0.62.

Insider Activity

In other news, Director Robert W. Selander sold 5,750 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $111.29, for a total transaction of $639,917.50. Following the completion of the transaction, the director now directly owns 78,219 shares of the company’s stock, valued at approximately $8,704,992.51. This represents a 6.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

HQY has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on HealthEquity from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Raymond James boosted their target price on shares of HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Royal Bank of Canada raised their price target on shares of HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Barrington Research reissued an “outperform” rating and issued a $112.00 target price on shares of HealthEquity in a research report on Friday, March 14th. Finally, Mizuho initiated coverage on HealthEquity in a research report on Wednesday, December 4th. They set an “outperform” rating and a $126.00 price target for the company. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.69.

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.