State Street Corp lessened its stake in shares of Envestnet Inc (NYSE:ENV) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 998,428 shares of the business services provider’s stock after selling 34,508 shares during the quarter. State Street Corp owned about 1.90% of Envestnet worth $56,611,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Envestnet by 9.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,491,058 shares of the business services provider’s stock worth $307,053,000 after buying an additional 384,026 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in shares of Envestnet by 148.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,541,300 shares of the business services provider’s stock worth $87,392,000 after buying an additional 920,535 shares during the last quarter. DF Dent & Co. Inc. lifted its position in shares of Envestnet by 0.4% during the 2nd quarter. DF Dent & Co. Inc. now owns 1,187,275 shares of the business services provider’s stock worth $81,174,000 after buying an additional 4,579 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in shares of Envestnet by 2.6% during the 3rd quarter. Stephens Investment Management Group LLC now owns 938,910 shares of the business services provider’s stock worth $53,236,000 after buying an additional 23,533 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Envestnet by 1.4% during the 2nd quarter. Northern Trust Corp now owns 684,203 shares of the business services provider’s stock worth $46,779,000 after buying an additional 9,688 shares during the last quarter. Institutional investors and hedge funds own 96.39% of the company’s stock.
Shares of Envestnet stock opened at $71.50 on Friday. The firm’s fifty day simple moving average is $66.11 and its 200-day simple moving average is $64.37. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 57.20, a PEG ratio of 3.07 and a beta of 1.76. Envestnet Inc has a 12 month low of $46.57 and a 12 month high of $73.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.46 and a quick ratio of 0.46.
Envestnet (NYSE:ENV) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $236.08 million for the quarter, compared to analysts’ expectations of $233.02 million. Envestnet had a negative net margin of 2.35% and a positive return on equity of 8.44%. The company’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. Analysts anticipate that Envestnet Inc will post 1.33 earnings per share for the current year.
ENV has been the subject of several recent analyst reports. DA Davidson upgraded shares of Envestnet from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Tuesday, October 1st. Sandler O’Neill raised shares of Envestnet from a “hold” rating to a “buy” rating and lifted their target price for the company from $66.00 to $80.00 in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $75.44.
In other Envestnet news, CFO Peter D’arrigo sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $69.91, for a total value of $699,100.00. Following the transaction, the chief financial officer now directly owns 62,747 shares of the company’s stock, valued at approximately $4,386,642.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Crager sold 9,094 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $59.45, for a total transaction of $540,638.30. Following the completion of the transaction, the chief executive officer now directly owns 232,788 shares in the company, valued at $13,839,246.60. The disclosure for this sale can be found here. Insiders sold a total of 85,374 shares of company stock worth $5,573,486 over the last ninety days. Corporate insiders own 4.97% of the company’s stock.
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 and Envestnet | Yodlee segments. The company's product and services suites 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; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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