State of New Jersey Common Pension Fund D Acquires 11,864 Shares of Envestnet, Inc. (NYSE:ENV)

State of New Jersey Common Pension Fund D boosted its holdings in Envestnet, Inc. (NYSE:ENVGet Rating) by 36.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,317 shares of the business services provider’s stock after purchasing an additional 11,864 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.08% of Envestnet worth $1,968,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. State of Michigan Retirement System lifted its stake in Envestnet by 1.4% in the second quarter. State of Michigan Retirement System now owns 14,071 shares of the business services provider’s stock worth $743,000 after purchasing an additional 200 shares during the last quarter. CWM LLC raised its stake in shares of Envestnet by 156.8% during the second quarter. CWM LLC now owns 796 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 486 shares during the last quarter. Regatta Capital Group LLC raised its stake in shares of Envestnet by 2.7% during the second quarter. Regatta Capital Group LLC now owns 18,816 shares of the business services provider’s stock valued at $993,000 after acquiring an additional 491 shares during the last quarter. IMA Wealth Inc. raised its stake in shares of Envestnet by 0.4% during the second quarter. IMA Wealth Inc. now owns 40,950 shares of the business services provider’s stock valued at $2,161,000 after acquiring an additional 179 shares during the last quarter. Finally, Harbor Spring Capital LLC raised its stake in shares of Envestnet by 45.5% during the second quarter. Harbor Spring Capital LLC now owns 385,000 shares of the business services provider’s stock valued at $20,316,000 after acquiring an additional 120,311 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. DA Davidson upped their price objective on shares of Envestnet from $70.00 to $74.00 in a research note on Wednesday, January 4th. The Goldman Sachs Group lowered their price objective on shares of Envestnet from $65.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, October 3rd. Raymond James cut shares of Envestnet from a “strong-buy” rating to an “outperform” rating and boosted their price target for the company from $63.00 to $71.00 in a research report on Friday, January 6th. StockNews.com cut shares of Envestnet from a “hold” rating to a “sell” rating in a research report on Saturday, November 19th. Finally, Jefferies Financial Group reduced their price target on shares of Envestnet from $71.00 to $40.00 in a research report on Monday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Envestnet currently has an average rating of “Hold” and a consensus price target of $66.50.

Envestnet Price Performance

Shares of ENV opened at $65.01 on Friday. The stock has a market cap of $3.60 billion, a PE ratio of -73.04 and a beta of 1.21. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.64 and a current ratio of 0.64. Envestnet, Inc. has a fifty-two week low of $41.72 and a fifty-two week high of $84.58. The firm’s 50-day simple moving average is $60.44 and its two-hundred day simple moving average is $54.44.

Envestnet (NYSE:ENVGet Rating) last announced its quarterly earnings data on Tuesday, November 8th. The business services provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. The business had revenue of $306.70 million for the quarter, compared to analysts’ expectations of $302.87 million. Envestnet had a negative net margin of 3.91% and a positive return on equity of 6.59%. Analysts anticipate that Envestnet, Inc. will post 0.92 earnings per share for the current fiscal year.

Envestnet Company Profile

(Get Rating)

Envestnet, Inc, together with its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through Envestnet Wealth Solutions and Envestnet Data & Analytics segments. The company's Envestnet Wealth Solutions segment offers Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as offers 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; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.

Recommended Stories

Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

Receive News & Ratings for Envestnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envestnet and related companies with MarketBeat.com's FREE daily email newsletter.