Envestnet, Inc (ENV) Shares Bought by Nicholas Company Inc.
Nicholas Company Inc. grew its stake in Envestnet, Inc (NYSE:ENV) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,715 shares of the business services provider’s stock after buying an additional 2,500 shares during the period. Nicholas Company Inc. owned 0.23% of Envestnet worth $4,067,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new position in shares of Envestnet in the 1st quarter valued at $116,000. Parallel Advisors LLC acquired a new position in shares of Envestnet in the 1st quarter valued at $131,000. Gradient Investments LLC acquired a new position in shares of Envestnet in the 2nd quarter valued at $191,000. Blueport Capital L.P. boosted its holdings in shares of Envestnet by 69.9% in the 1st quarter. Blueport Capital L.P. now owns 6,254 shares of the business services provider’s stock valued at $202,000 after buying an additional 2,574 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Envestnet by 525.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock valued at $204,000 after buying an additional 4,328 shares in the last quarter. Institutional investors and hedge funds own 95.51% of the company’s stock.
In other Envestnet news, CFO Peter D’arrigo sold 7,500 shares of Envestnet stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $39.20, for a total transaction of $294,000.00. Following the transaction, the chief financial officer now owns 19,976 shares of the company’s stock, valued at approximately $783,059.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gayle A. Crowell sold 746 shares of Envestnet stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $44.45, for a total value of $33,159.70. Following the transaction, the director now directly owns 801 shares in the company, valued at approximately $35,604.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,718 shares of company stock worth $1,420,284. Company insiders own 5.58% of the company’s stock.
Several research analysts have recently issued reports on ENV shares. Royal Bank Of Canada restated a “hold” rating on shares of Envestnet in a report on Monday, September 11th. Jefferies Group LLC restated a “buy” rating and issued a $48.00 target price on shares of Envestnet in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Envestnet from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, William Blair reiterated a “buy” rating on shares of Envestnet in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $45.50.
Shares of Envestnet, Inc (ENV) opened at 47.10 on Monday. The company has a 50-day moving average of $42.78 and a 200 day moving average of $37.81. The stock’s market cap is $2.07 billion. Envestnet, Inc has a 52-week low of $30.80 and a 52-week high of $47.25.
Envestnet (NYSE:ENV) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The business had revenue of $167.50 million for the quarter, compared to analysts’ expectations of $164.04 million. During the same period last year, the firm earned $0.21 EPS. The company’s revenue was up 18.0% compared to the same quarter last year. Equities research analysts forecast that Envestnet, Inc will post $1.29 EPS for the current fiscal year.
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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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