Illinois Municipal Retirement Fund Invests $1.37 Million in Envestnet, Inc. (NYSE:ENV)

Illinois Municipal Retirement Fund purchased a new stake in Envestnet, Inc. (NYSE:ENV) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 27,652 shares of the business services provider’s stock, valued at approximately $1,369,000. Illinois Municipal Retirement Fund owned approximately 0.05% of Envestnet as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENV. SG Americas Securities LLC lifted its stake in Envestnet by 76.9% in the 3rd quarter. SG Americas Securities LLC now owns 28,630 shares of the business services provider’s stock worth $1,261,000 after purchasing an additional 12,450 shares in the last quarter. Argent Capital Management LLC raised its position in shares of Envestnet by 32.7% in the third quarter. Argent Capital Management LLC now owns 5,167 shares of the business services provider’s stock worth $228,000 after buying an additional 1,274 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Envestnet by 13.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,575 shares of the business services provider’s stock valued at $5,397,000 after buying an additional 14,916 shares during the period. TD Asset Management Inc grew its position in Envestnet by 39.8% during the third quarter. TD Asset Management Inc now owns 35,834 shares of the business services provider’s stock worth $1,578,000 after buying an additional 10,200 shares in the last quarter. Finally, Summit Creek Advisors LLC increased its stake in Envestnet by 0.4% in the 3rd quarter. Summit Creek Advisors LLC now owns 345,682 shares of the business services provider’s stock worth $15,220,000 after acquiring an additional 1,248 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ENV. JMP Securities reissued a “market outperform” rating and set a $79.00 price objective on shares of Envestnet in a report on Wednesday, April 17th. Royal Bank of Canada boosted their price target on shares of Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. StockNews.com cut shares of Envestnet from a “hold” rating to a “sell” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Finally, Raymond James increased their target price on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.67.

Envestnet Price Performance

Shares of Envestnet stock opened at $62.15 on Friday. The company’s fifty day simple moving average is $56.10 and its two-hundred day simple moving average is $48.72. Envestnet, Inc. has a 12-month low of $33.12 and a 12-month high of $68.83. The firm has a market cap of $3.41 billion, a PE ratio of -14.22 and a beta of 1.31. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53.

Envestnet (NYSE:ENV) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. The company had revenue of $317.63 million during the quarter, compared to analyst estimates of $312.24 million. As a group, equities analysts expect that Envestnet, Inc. will post 1.78 EPS for the current year.

Insider Activity

In related news, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the sale, the insider now owns 15,212 shares in the company, valued at $865,867.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the sale, the insider now directly owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of Envestnet stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the transaction, the director now directly owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The disclosure for this purchase can be found here. Insiders own 8.90% of the company’s stock.

Envestnet Company Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which 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.