King Luther Capital Management Corp Acquires 3,650 Shares of Envestnet Inc (ENV)

King Luther Capital Management Corp boosted its holdings in shares of Envestnet Inc (NYSE:ENV) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,436 shares of the business services provider’s stock after acquiring an additional 3,650 shares during the period. King Luther Capital Management Corp owned about 0.26% of Envestnet worth $5,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of ENV. BlackRock Inc. boosted its holdings in shares of Envestnet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 2,662,809 shares of the business services provider’s stock valued at $105,446,000 after buying an additional 81,056 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Envestnet by 5.9% in the 2nd quarter. New York State Common Retirement Fund now owns 46,654 shares of the business services provider’s stock valued at $1,847,000 after buying an additional 2,599 shares in the last quarter. Geneva Advisors LLC boosted its holdings in shares of Envestnet by 3.4% in the 2nd quarter. Geneva Advisors LLC now owns 42,659 shares of the business services provider’s stock valued at $1,689,000 after buying an additional 1,385 shares in the last quarter. Marshall Wace North America L.P. boosted its holdings in shares of Envestnet by 541.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 64,674 shares of the business services provider’s stock valued at $2,587,000 after buying an additional 54,590 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Envestnet by 123.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 24,406 shares of the business services provider’s stock valued at $966,000 after buying an additional 13,506 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.

Envestnet Inc (ENV) traded up $0.75 on Thursday, reaching $49.90. 228,100 shares of the company’s stock were exchanged, compared to its average volume of 269,629. Envestnet Inc has a 12 month low of $30.80 and a 12 month high of $55.15. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.63. The stock has a market cap of $2,210.00, a price-to-earnings ratio of 63.01, a PEG ratio of 3.65 and a beta of 1.90.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Envestnet had a negative net margin of 8.15% and a positive return on equity of 8.92%. The company had revenue of $175.61 million during the quarter, compared to analyst estimates of $171.57 million. During the same period last year, the firm posted $0.28 EPS. Envestnet’s revenue for the quarter was up 17.7% compared to the same quarter last year. equities research analysts anticipate that Envestnet Inc will post 0.9 EPS for the current fiscal year.

A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Envestnet from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Tuesday, October 10th. UBS reaffirmed a “buy” rating and issued a $63.00 price objective (up from $50.00) on shares of Envestnet in a research report on Monday, October 9th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Envestnet in a research report on Thursday, October 5th. Jefferies Group increased their price objective on shares of Envestnet from $47.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $62.00 price objective (up from $52.00) on shares of Envestnet in a research report on Thursday, November 9th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Envestnet currently has a consensus rating of “Buy” and a consensus target price of $55.13.

In other news, Director Gayle A. Crowell sold 746 shares of Envestnet stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $48.90, for a total transaction of $36,479.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shelly O’brien sold 1,500 shares of Envestnet stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $48.13, for a total transaction of $72,195.00. Following the transaction, the insider now directly owns 37,686 shares of the company’s stock, valued at $1,813,827.18. The disclosure for this sale can be found here. Insiders have sold a total of 214,574 shares of company stock valued at $10,881,077 over the last three months. 7.80% of the stock is currently owned by insiders.

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Envestnet Profile

Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.

Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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