Global Alpha Capital Management Ltd. Boosts Position in Envestnet Inc (ENV)
Global Alpha Capital Management Ltd. boosted its position in shares of Envestnet Inc (NYSE:ENV) by 22.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 179,115 shares of the business services provider’s stock after acquiring an additional 32,700 shares during the quarter. Envestnet accounts for 2.6% of Global Alpha Capital Management Ltd.’s portfolio, making the stock its 16th biggest holding. Global Alpha Capital Management Ltd.’s holdings in Envestnet were worth $10,917,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of ENV. Contravisory Investment Management Inc. purchased a new stake in Envestnet during the third quarter valued at $136,000. TRUE Private Wealth Advisors purchased a new stake in Envestnet during the third quarter valued at $169,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Envestnet during the second quarter valued at $203,000. Zions Bancorporation purchased a new stake in Envestnet during the second quarter valued at $207,000. Finally, Engineers Gate Manager LP purchased a new stake in Envestnet during the third quarter valued at $207,000. Institutional investors own 97.79% of the company’s stock.
ENV has been the subject of a number of research reports. DA Davidson upgraded Envestnet from a “neutral” rating to a “buy” rating in a research report on Thursday, November 8th. Zacks Investment Research upgraded Envestnet from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Thursday, October 4th. JMP Securities reduced their price objective on Envestnet from $76.00 to $67.00 and set a “market outperform” rating for the company in a research report on Tuesday, November 13th. UBS Group upped their price objective on Envestnet from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Finally, TheStreet cut Envestnet from a “b-” rating to a “c+” rating in a research report on Wednesday, October 10th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $64.43.
Envestnet (NYSE:ENV) last issued its quarterly earnings results on Wednesday, November 7th. The business services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The business had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $203.99 million. Envestnet had a return on equity of 11.32% and a net margin of 2.95%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 earnings per share. As a group, research analysts anticipate that Envestnet Inc will post 1.29 earnings per share for the current fiscal year.
In other Envestnet news, insider Anil Arora sold 4,551 shares of the company’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $62.40, for a total value of $283,982.40. Following the completion of the sale, the insider now owns 75,388 shares in the company, valued at $4,704,211.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President William Crager sold 12,000 shares of the company’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $60.99, for a total value of $731,880.00. Following the completion of the sale, the president now owns 212,252 shares of the company’s stock, valued at approximately $12,945,249.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,662 shares of company stock valued at $1,188,894. Company insiders own 7.80% of the company’s stock.
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Envestnet Company Profile
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 business 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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