Victory Capital Management Inc. raised its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 659,095 shares of the business services provider’s stock after purchasing an additional 1,820 shares during the period. Victory Capital Management Inc. owned approximately 1.22% of Envestnet worth $50,855,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. CSat Investment Advisory L.P. purchased a new position in Envestnet in the second quarter worth $34,000. Marshall Wace LLP purchased a new stake in shares of Envestnet in the 1st quarter valued at approximately $50,000. SRS Capital Advisors Inc. grew its stake in shares of Envestnet by 29.1% in the 2nd quarter. SRS Capital Advisors Inc. now owns 968 shares of the business services provider’s stock valued at $71,000 after buying an additional 218 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Envestnet by 85.8% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 931 shares of the business services provider’s stock valued at $72,000 after buying an additional 430 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Envestnet by 312.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,755 shares of the business services provider’s stock valued at $135,000 after buying an additional 1,330 shares during the period. Institutional investors and hedge funds own 97.09% of the company’s stock.
Several research firms have recently weighed in on ENV. JMP Securities increased their price target on shares of Envestnet from $84.00 to $94.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. UBS Group increased their price target on shares of Envestnet from $91.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Rosenblatt Securities reissued a “buy” rating and issued a $87.00 price target on shares of Envestnet in a research note on Monday, July 27th. Finally, Raymond James increased their price target on shares of Envestnet from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Friday, November 6th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $81.08.
In other Envestnet news, Director Anil Arora sold 2,500 shares of the stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $84.54, for a total transaction of $211,350.00. Following the sale, the director now directly owns 22,169 shares in the company, valued at approximately $1,874,167.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Shelly O’brien sold 5,500 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $82.99, for a total transaction of $456,445.00. Following the sale, the insider now owns 32,387 shares in the company, valued at $2,687,797.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,643 shares of company stock worth $5,784,217. 2.44% of the stock is owned by company insiders.
NYSE:ENV opened at $76.89 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $4.15 billion, a P/E ratio of -591.46 and a beta of 1.65. The company has a 50 day moving average price of $79.97 and a 200 day moving average price of $77.16. Envestnet, Inc. has a fifty-two week low of $45.53 and a fifty-two week high of $92.51.
Envestnet (NYSE:ENV) last posted its quarterly earnings data on Thursday, November 5th. The business services provider reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.32. The firm had revenue of $252.60 million during the quarter, compared to analysts’ expectations of $246.65 million. Envestnet had a negative net margin of 1.23% and a positive return on equity of 9.86%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. Research analysts forecast that Envestnet, Inc. will post 1.57 earnings per share for the current fiscal year.
Envestnet Company Profile
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet Welth Solutions and Envestnet Data & Analytics segments. The company's product and services include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.
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