Pioneer Investment Management Inc. raised its stake in Envestnet, Inc (NYSE:ENV) by 29.6% during the second quarter, Holdings Channel reports. The fund owned 112,581 shares of the business services provider’s stock after buying an additional 25,686 shares during the period. Pioneer Investment Management Inc.’s holdings in Envestnet were worth $4,458,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the company. Van Berkom & Associates Inc. boosted its stake in Envestnet by 24.9% in the first quarter. Van Berkom & Associates Inc. now owns 1,519,842 shares of the business services provider’s stock valued at $49,091,000 after buying an additional 303,286 shares during the last quarter. OppenheimerFunds Inc. acquired a new stake in Envestnet during the first quarter valued at $9,435,000. TimesSquare Capital Management LLC boosted its stake in Envestnet by 14.1% in the first quarter. TimesSquare Capital Management LLC now owns 2,235,015 shares of the business services provider’s stock valued at $72,191,000 after buying an additional 275,955 shares during the last quarter. Norges Bank acquired a new stake in Envestnet during the fourth quarter valued at $5,831,000. Finally, Summit Creek Advisors LLC boosted its stake in Envestnet by 82.5% in the second quarter. Summit Creek Advisors LLC now owns 341,273 shares of the business services provider’s stock valued at $13,514,000 after buying an additional 154,324 shares during the last quarter.

Envestnet, Inc (ENV) opened at 43.40 on Tuesday. The firm’s 50-day moving average price is $39.42 and its 200 day moving average price is $36.81. Envestnet, Inc has a 52-week low of $30.80 and a 52-week high of $45.17. The firm’s market cap is $1.91 billion.

Envestnet (NYSE:ENV) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. Envestnet had a positive return on equity of 7.78% and a negative net margin of 8.93%. The firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $164.04 million. During the same period in the prior year, the business earned $0.21 EPS. The company’s quarterly revenue was up 18.0% on a year-over-year basis. On average, equities research analysts forecast that Envestnet, Inc will post $1.27 EPS for the current year.

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ENV has been the subject of several recent analyst reports. Zacks Investment Research cut Envestnet from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 25th. DA Davidson initiated coverage on Envestnet in a research note on Thursday, July 6th. They set a “neutral” rating and a $42.00 target price for the company. Royal Bank Of Canada restated a “hold” rating and set a $40.00 target price on shares of Envestnet in a research note on Thursday, May 11th. Jefferies Group LLC restated a “buy” rating and set a $48.00 target price on shares of Envestnet in a research note on Friday, July 14th. Finally, BidaskClub upgraded Envestnet from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $45.50.

In other Envestnet news, Director Gayle A. Crowell sold 746 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $39.80, for a total transaction of $29,690.80. Following the transaction, the director now owns 801 shares of the company’s stock, valued at approximately $31,879.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anil Arora sold 8,980 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $40.00, for a total value of $359,200.00. Following the transaction, the insider now directly owns 68,609 shares in the company, valued at approximately $2,744,360. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,972 shares of company stock worth $1,300,284. 5.58% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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