Envestnet, Inc. (NYSE:ENV) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System increased its stake in shares of Envestnet, Inc. (NYSE:ENV) by 50.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,621 shares of the business services provider’s stock after purchasing an additional 4,221 shares during the period. New York State Teachers Retirement System’s holdings in Envestnet were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Van Berkom & Associates Inc. lifted its holdings in Envestnet by 33.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock valued at $77,603,000 after acquiring an additional 438,994 shares during the period. Norges Bank acquired a new stake in Envestnet in the fourth quarter valued at $24,777,000. Deutsche Bank AG lifted its holdings in Envestnet by 218.1% in the first quarter. Deutsche Bank AG now owns 576,415 shares of the business services provider’s stock valued at $33,818,000 after acquiring an additional 395,213 shares during the period. Nuveen Asset Management LLC lifted its holdings in Envestnet by 103.5% in the second quarter. Nuveen Asset Management LLC now owns 492,371 shares of the business services provider’s stock valued at $29,222,000 after acquiring an additional 250,371 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Envestnet by 185.0% in the second quarter. Marshall Wace LLP now owns 293,873 shares of the business services provider’s stock valued at $17,441,000 after acquiring an additional 190,747 shares during the period.

Envestnet Trading Up 0.0 %

Envestnet stock opened at $62.22 on Friday. The stock has a market cap of $3.41 billion, a PE ratio of -14.24 and a beta of 1.31. The stock has a 50-day moving average price of $54.82 and a 200 day moving average price of $47.77. Envestnet, Inc. has a 52 week low of $33.12 and a 52 week high of $68.83. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Envestnet (NYSE:ENV) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. The firm had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $312.24 million. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. Equities research analysts predict that Envestnet, Inc. will post 1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. DA Davidson raised their target price on Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Raymond James raised their target price on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. William Blair reissued an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price target on Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Finally, JMP Securities restated a “market outperform” rating and issued a $79.00 price target on shares of Envestnet in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Insider Buying and Selling

In related news, Director Lauren Taylor Wolfe acquired 1,670 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the transaction, the director now owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Envestnet news, Director Lauren Taylor Wolfe purchased 1,670 shares of the stock in a transaction on Friday, March 15th. The stock was bought at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the acquisition, the director now directly owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the sale, the insider now owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by company insiders.

About Envestnet

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which 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.