Envestnet, Inc (ENV) Holdings Increased by Swiss National Bank
Swiss National Bank grew its holdings in shares of Envestnet, Inc (NYSE:ENV) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,300 shares of the business services provider’s stock after buying an additional 1,600 shares during the period. Swiss National Bank owned 166,515.22% of Envestnet worth $3,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its holdings in Envestnet by 3.1% during the 2nd quarter. BlackRock Inc. now owns 2,662,809 shares of the business services provider’s stock worth $105,446,000 after buying an additional 81,056 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in Envestnet by 5.9% during the 2nd quarter. New York State Common Retirement Fund now owns 46,654 shares of the business services provider’s stock worth $1,847,000 after buying an additional 2,599 shares during the last quarter. Geneva Advisors LLC lifted its holdings in Envestnet by 3.4% during the 2nd quarter. Geneva Advisors LLC now owns 42,659 shares of the business services provider’s stock worth $1,689,000 after buying an additional 1,385 shares during the last quarter. Marshall Wace North America L.P. lifted its holdings in Envestnet by 541.4% during the 2nd quarter. Marshall Wace North America L.P. now owns 64,674 shares of the business services provider’s stock worth $2,587,000 after buying an additional 54,590 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Envestnet by 559.6% during the 2nd quarter. Janus Henderson Group PLC now owns 4,017,706 shares of the business services provider’s stock worth $159,101,000 after buying an additional 3,408,580 shares during the last quarter. 93.28% of the stock is owned by institutional investors.
Envestnet, Inc (NYSE ENV) traded down $0.15 during trading on Friday, hitting $49.55. The stock had a trading volume of 134,800 shares, compared to its average volume of 269,626. Envestnet, Inc has a fifty-two week low of $30.80 and a fifty-two week high of $55.15. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $2,195.35, a P/E ratio of 63.53, a P/E/G ratio of 3.68 and a beta of 1.97.
Envestnet (NYSE:ENV) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Envestnet had a positive return on equity of 8.92% and a negative net margin of 8.15%. The business had revenue of $175.61 million during the quarter, compared to the consensus estimate of $171.57 million. During the same period in the previous year, the business earned $0.28 EPS. The business’s quarterly revenue was up 17.7% on a year-over-year basis. sell-side analysts forecast that Envestnet, Inc will post 0.9 earnings per share for the current year.
In other news, CEO Judson Bergman sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $49.91, for a total value of $499,100.00. Following the completion of the sale, the chief executive officer now directly owns 733,569 shares of the company’s stock, valued at approximately $36,612,428.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gayle A. Crowell sold 746 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $44.45, for a total value of $33,159.70. Following the sale, the director now directly owns 801 shares of the company’s stock, valued at $35,604.45. The disclosure for this sale can be found here. Insiders sold a total of 160,464 shares of company stock valued at $8,217,883 over the last three months. Company insiders own 7.80% of the company’s stock.
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A number of analysts have issued reports on the company. JMP Securities lifted their price target on Envestnet from $48.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, September 26th. They noted that the move was a valuation call. Zacks Investment Research downgraded Envestnet from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. Stifel Nicolaus reissued a “buy” rating and issued a $52.00 target price (up from $45.00) on shares of Envestnet in a report on Thursday, August 10th. UBS AG reduced their target price on Envestnet from $63.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 17th. Finally, Raymond James Financial, Inc. boosted their target price on Envestnet from $44.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Envestnet currently has a consensus rating of “Buy” and an average target price of $55.13.
Envestnet Company 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.
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