Xact Kapitalforvaltning AB purchased a new position in shares of Envestnet (NYSE:ENV) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,523 shares of the business services provider’s stock, valued at approximately $225,000.
Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Envestnet by 1.0% during the 4th quarter. BlackRock Inc. now owns 2,699,362 shares of the business services provider’s stock worth $134,564,000 after acquiring an additional 27,689 shares during the period. OppenheimerFunds Inc. lifted its stake in Envestnet by 1.7% in the 4th quarter. OppenheimerFunds Inc. now owns 609,122 shares of the business services provider’s stock valued at $30,365,000 after purchasing an additional 10,476 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Envestnet by 1.2% in the 4th quarter. Victory Capital Management Inc. now owns 597,290 shares of the business services provider’s stock valued at $29,775,000 after purchasing an additional 7,080 shares during the last quarter. Atlanta Capital Management Co. L L C lifted its stake in Envestnet by 20.3% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 537,122 shares of the business services provider’s stock valued at $26,776,000 after purchasing an additional 90,786 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its stake in Envestnet by 21.8% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 482,907 shares of the business services provider’s stock valued at $24,073,000 after purchasing an additional 86,473 shares during the last quarter. 93.20% of the stock is owned by institutional investors.
Several equities analysts recently commented on ENV shares. Zacks Investment Research raised shares of Envestnet from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, January 9th. ValuEngine raised shares of Envestnet from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Sandler O’Neill reissued a “hold” rating and issued a $56.00 price objective on shares of Envestnet in a research note on Tuesday, April 10th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $55.11.
In other news, Director Gayle A. Crowell sold 745 shares of the firm’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $57.10, for a total transaction of $42,539.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anil Arora sold 7,109 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $54.80, for a total transaction of $389,573.20. Following the transaction, the insider now directly owns 96,386 shares of the company’s stock, valued at approximately $5,281,952.80. The disclosure for this sale can be found here. Insiders have sold 63,767 shares of company stock valued at $3,711,157 in the last ninety days. Insiders own 5.58% of the company’s stock.
Shares of NYSE:ENV opened at $54.70 on Tuesday. The company has a market capitalization of $2,412.90, a P/E ratio of 62.01, a P/E/G ratio of 2.78 and a beta of 1.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. Envestnet has a one year low of $33.30 and a one year high of $60.28.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $182.86 million during the quarter, compared to the consensus estimate of $179.20 million. Envestnet had a negative net margin of 0.48% and a positive return on equity of 9.93%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. research analysts forecast that Envestnet will post 1.29 earnings per share for the current fiscal year.
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Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services 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, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides 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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