Short Interest in Healthequity Inc (NASDAQ:HQY) Declines By 8.3%

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Healthequity Inc (NASDAQ:HQY) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 4,960,000 shares, a drop of 8.3% from the September 30th total of 5,410,000 shares. Approximately 7.2% of the company’s shares are short sold. Based on an average daily trading volume, of 817,200 shares, the days-to-cover ratio is presently 6.1 days.

In other Healthequity news, CFO Darcy G. Mott sold 4,000 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $56.90, for a total transaction of $227,600.00. Following the completion of the transaction, the chief financial officer now owns 42,000 shares in the company, valued at approximately $2,389,800. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

Large investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan grew its stake in shares of Healthequity by 1.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 10,040 shares of the company’s stock worth $657,000 after buying an additional 140 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Healthequity by 14.0% during the third quarter. Quadrant Capital Group LLC now owns 1,562 shares of the company’s stock worth $88,000 after buying an additional 192 shares during the last quarter. Zions Bancorporation N.A. grew its stake in shares of Healthequity by 6.0% during the second quarter. Zions Bancorporation N.A. now owns 3,792 shares of the company’s stock worth $248,000 after buying an additional 216 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Healthequity by 3.2% during the second quarter. Captrust Financial Advisors now owns 7,837 shares of the company’s stock worth $513,000 after buying an additional 240 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Healthequity by 0.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 37,732 shares of the company’s stock worth $2,468,000 after buying an additional 259 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Several equities analysts have recently weighed in on HQY shares. TheStreet cut Healthequity from a “b” rating to a “c+” rating in a report on Tuesday, September 3rd. Oppenheimer decreased their price objective on Healthequity from $98.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Bank of America set a $79.00 price objective on Healthequity and gave the company a “buy” rating in a report on Wednesday, September 4th. Wells Fargo & Co decreased their price objective on Healthequity from $80.00 to $76.00 and set an “outperformer” rating for the company in a report on Wednesday, September 4th. Finally, ValuEngine cut Healthequity from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $77.00.

NASDAQ:HQY traded up $0.51 during mid-day trading on Tuesday, hitting $62.47. The stock had a trading volume of 1,124 shares, compared to its average volume of 510,212. Healthequity has a twelve month low of $50.29 and a twelve month high of $91.79. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 65.57, a PEG ratio of 2.91 and a beta of 1.50. The company’s 50 day simple moving average is $57.44 and its 200 day simple moving average is $64.78. The company has a debt-to-equity ratio of 0.04, a quick ratio of 22.98 and a current ratio of 22.98.

Healthequity (NASDAQ:HQY) last issued its earnings results on Tuesday, September 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.10. Healthequity had a net margin of 28.13% and a return on equity of 11.77%. The business had revenue of $86.60 million during the quarter, compared to the consensus estimate of $85.33 million. During the same period last year, the business posted $0.36 EPS. Healthequity’s revenue was up 21.8% on a year-over-year basis. As a group, equities analysts forecast that Healthequity will post 0.87 earnings per share for the current 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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