Victory Capital Management Inc., a leading provider of investment management services to institutions and individuals, has recently filed with the Securities & Exchange Commission, indicating its holdings in HealthEquity, Inc. (NASDAQ:HQY), the top provider of technology-enabled services platforms to consumers and employers in the United States. According to the filing, Victory Capital Management has reduced its holdings in HQY by 28.7% during the fourth quarter, resulting in ownership of 621,494 shares worth approximately $38.3 million at the end of the reporting period.
HealthEquity’s cloud-based platforms empower individuals to make health saving and spending decisions, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives and grow their savings by making investment choices.
Despite having a market cap of $5.34 billion and a PE ratio of -624.90 as on June 20, 2023, HQY stock opened at $62.49 that morning riding strong charts on the back of their cutting-edge technology-enabled offerings. The company’s debt-to-equity ratio stands at 0.45 indicating that they are well managed with sustainable cash inflows.
While financial experts may interpret these figures as reflective of changes in Victory Capital Management’s portfolio management or simply a strategic move towards other investments – this change also demonstrates how organizations can free up funds for further investments that suit organizational objectives better.
Overall, while there might not be one definite conclusion to draw from this story alone – investors will continue making informed decisions based on similar numbers across multiple domains such as profits/losses per quarter/year, recurring expenses among others – key insights obtained from analyzing these data points allow businesses to make calibrated moves that benefit both long-term goals and short-term returns for stakeholders in line with their portfolio strategy.
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Institutional Investors Show Interest in HealthEquity Inc. (NASDAQ:HQY)
HealthEquity, Inc. (NASDAQ:HQY) has recently caught the attention of institutional investors as they modify their holdings of the company. Quadrant Capital Group LLC has grown its position in HealthEquity by 62.7% in the fourth quarter and now owns 540 shares worth $33,000. Arcadia Investment Management Corp MI also bought a new position in HealthEquity worth about $65,000 in the same period. Captrust Financial Advisors grew its position by 92.5% in the first quarter, owning 1,176 shares worth $79,000 and Neo Ivy Capital Management grew its position by an astounding 3,313.7% to own 1,741 shares worth $117,000 last quarter. The latest institutional investor is Beacon Pointe Advisors LLC who bought shares of HealthEquity for approximately $206,000 in the first quarter. Institutional investors now own approximately 98.80% of the company’s stock.
Several research firms have recently issued reports on HQY with three analysts assigning a hold rating and six analysts assigning a buy rating resulting to an average rating of “Moderate Buy” according to data from Bloomberg.com which also gave an average price target of $82.33.
HealthEquity is a company that provides technology-enabled services platforms for individuals and employers to make health savings and spending decisions through cloud-based platforms that allow them to compare treatment options and receive personalized benefit clinical information while earning wellness incentives via health savings accounts.
HealthEquity posted quarterly earnings results on Tuesday, March 21st reporting an EPS of $0.26 for Q1 which beat consensus estimates of $0.20 by $0.06 with revenue amounting to $233.84 million beating estimates of $229.43 million while posting positive return on equity but negative net margin at -0-93%. Equities research analysts speculate that HealthEquity is expected to generate 1.3 earnings per share for the fiscal year.
In other news, EVP Elimelech Rosner has recently sold 10,156 shares of HealthEquity’s stock at an average price of $64.29 totaling to $652,929.24 while holding 70,334 shares in the company valued at approximately $4,521,772.86 as reported in a legal filing with the SEC which can be accessed through their website. Approximately 2.70% of the company’s stock is owned by insiders.