Stephens Investment Management Group LLC lowered its stake in shares of Envestnet Inc (NYSE:ENV) by 21.2% during the 4th quarter, Holdings Channel reports. The firm owned 1,131,192 shares of the business services provider’s stock after selling 303,564 shares during the quarter. Envestnet makes up 1.3% of Stephens Investment Management Group LLC’s holdings, making the stock its 15th biggest position. Stephens Investment Management Group LLC’s holdings in Envestnet were worth $56,390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its position in shares of Envestnet by 13.0% during the 2nd quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 379 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Envestnet by 133.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 1,591 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Envestnet by 5.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock valued at $150,000 after acquiring an additional 204 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in Envestnet in the 4th quarter valued at $175,000. Finally, Zions Bancorporation bought a new position in Envestnet in the 3rd quarter valued at $181,000. 94.63% of the stock is currently owned by hedge funds and other institutional investors.

In other Envestnet news, Director Gayle A. Crowell sold 746 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $48.90, for a total value of $36,479.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President William Crager sold 4,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $51.48, for a total value of $205,920.00. Following the completion of the sale, the president now owns 182,217 shares of the company’s stock, valued at $9,380,531.16. The disclosure for this sale can be found here. Insiders sold a total of 271,694 shares of company stock valued at $13,765,436 over the last quarter. Company insiders own 5.58% of the company’s stock.

Several equities analysts have commented on the company. Zacks Investment Research raised Envestnet from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Tuesday, October 10th. UBS Group reaffirmed a “buy” rating and issued a $63.00 price objective (up previously from $50.00) on shares of Envestnet in a research report on Monday, October 9th. Jefferies Group upped their price objective on Envestnet from $47.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. Royal Bank of Canada reaffirmed a “hold” rating on shares of Envestnet in a research report on Tuesday, November 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $62.00 price objective (up previously from $52.00) on shares of Envestnet in a research report on Thursday, November 9th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Envestnet presently has an average rating of “Buy” and a consensus target price of $55.00.

Shares of Envestnet Inc (ENV) opened at $51.45 on Tuesday. Envestnet Inc has a 1-year low of $30.80 and a 1-year high of $55.45. The firm has a market capitalization of $2,337.13, a price-to-earnings ratio of 67.63, a price-to-earnings-growth ratio of 2.70 and a beta of 1.96. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.90 and a quick ratio of 0.90.

Envestnet (NYSE:ENV) last issued its earnings results on Wednesday, November 8th. The business services provider reported $0.37 earnings per share for the quarter, topping 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 analysts’ expectations of $171.57 million. During the same period in the prior year, the business earned $0.28 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. sell-side analysts predict that Envestnet Inc will post 0.89 earnings per share for the current fiscal year.

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Envestnet 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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