Nelson Van Denburg & Campbell Wealth Management Group LLC lessened its holdings in shares of Envestnet Inc (NYSE:ENV) by 40.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,420 shares of the business services provider’s stock after selling 1,660 shares during the quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Envestnet were worth $137,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. TRUE Private Wealth Advisors acquired a new stake in Envestnet during the 2nd quarter worth $27,000. DekaBank Deutsche Girozentrale acquired a new stake in Envestnet during the 2nd quarter worth $34,000. Hudock Capital Group LLC acquired a new stake in Envestnet during the 2nd quarter worth $46,000. Marshall Wace LLP acquired a new stake in Envestnet during the 1st quarter worth $50,000. Finally, SRS Capital Advisors Inc. acquired a new stake in Envestnet during the 2nd quarter worth $83,000. 89.44% of the stock is currently owned by institutional investors.
Shares of ENV stock opened at $60.33 on Friday. The company’s 50-day moving average price is $57.69 and its 200-day moving average price is $65.34. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 2.58 and a beta of 1.74. Envestnet Inc has a twelve month low of $46.57 and a twelve month high of $73.94.
Envestnet (NYSE:ENV) last posted its earnings results on Wednesday, August 7th. The business services provider reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.02). Envestnet had a negative net margin of 1.72% and a positive return on equity of 9.15%. The company had revenue of $227.90 million during the quarter, compared to analyst estimates of $225.34 million. During the same period in the previous year, the company earned $0.41 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts predict that Envestnet Inc will post 1.28 EPS for the current year.
ENV has been the topic of several recent research reports. Zacks Investment Research cut shares of Envestnet from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Raymond James boosted their price target on shares of Envestnet from $82.00 to $83.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 11th. ValuEngine cut shares of Envestnet from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, DA Davidson raised shares of Envestnet from a “neutral” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $73.78.
In other Envestnet news, COO Joshua Mayer sold 500 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.82, for a total transaction of $34,910.00. Following the sale, the chief operating officer now directly owns 28,102 shares in the company, valued at $1,962,081.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Judson Bergman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $72.46, for a total transaction of $1,086,900.00. Following the sale, the chief executive officer now owns 828,323 shares in the company, valued at $60,020,284.58. The disclosure for this sale can be found here. Insiders sold 144,106 shares of company stock worth $8,907,804 in the last ninety days. 4.97% of the stock is currently owned by corporate insiders.
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 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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