California Public Employees Retirement System Acquires 32,807 Shares of HealthEquity, Inc. (NASDAQ:HQY)

California Public Employees Retirement System increased its stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 9.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 365,778 shares of the company's stock after acquiring an additional 32,807 shares during the quarter. California Public Employees Retirement System owned 0.42% of HealthEquity worth $35,096,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HQY. Level Four Advisory Services LLC increased its stake in HealthEquity by 5.3% in the fourth quarter. Level Four Advisory Services LLC now owns 2,736 shares of the company's stock valued at $263,000 after purchasing an additional 138 shares in the last quarter. Premier Fund Managers Ltd raised its stake in HealthEquity by 22.7% during the 4th quarter. Premier Fund Managers Ltd now owns 11,076 shares of the company's stock worth $1,073,000 after buying an additional 2,046 shares during the period. Pictet Asset Management Holding SA boosted its holdings in HealthEquity by 14.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 13,833 shares of the company's stock worth $1,327,000 after acquiring an additional 1,765 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in HealthEquity in the fourth quarter valued at approximately $249,000. Finally, Norges Bank bought a new stake in shares of HealthEquity during the fourth quarter valued at approximately $74,701,000. Institutional investors own 99.55% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on HQY. Wells Fargo & Company lifted their price target on shares of HealthEquity from $110.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Royal Bank of Canada boosted their target price on shares of HealthEquity from $100.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. Raymond James raised shares of HealthEquity from an "outperform" rating to a "strong-buy" rating and dropped their price target for the company from $120.00 to $115.00 in a research report on Tuesday, March 25th. The Goldman Sachs Group decreased their price objective on HealthEquity from $107.00 to $94.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Finally, Barrington Research reissued an "outperform" rating and issued a $112.00 price objective on shares of HealthEquity in a research note on Friday, March 14th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $112.58.

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HealthEquity Stock Performance

HQY stock traded down $4.17 during midday trading on Friday, hitting $78.80. The company's stock had a trading volume of 1,933,052 shares, compared to its average volume of 740,684. HealthEquity, Inc. has a 1 year low of $65.01 and a 1 year high of $115.59. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 72.29, a PEG ratio of 1.60 and a beta of 0.49. The stock's 50-day moving average price is $101.66 and its 200 day moving average price is $96.21. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.51.

Insider Buying and Selling

In related news, Director Robert W. Selander sold 5,750 shares of HealthEquity stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $111.29, for a total value of $639,917.50. Following the sale, the director now owns 78,219 shares of the company's stock, valued at approximately $8,704,992.51. The trade was a 6.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is owned by insiders.

HealthEquity Company 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.