Raymond James & Associates Trims Position in Envestnet, Inc. (NYSE:ENV)

Raymond James & Associates reduced its holdings in Envestnet, Inc. (NYSE:ENV) by 22.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,695 shares of the business services provider’s stock after selling 4,707 shares during the period. Raymond James & Associates’ holdings in Envestnet were worth $827,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in Envestnet in the third quarter valued at $45,000. PNC Financial Services Group Inc. lifted its holdings in shares of Envestnet by 19.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock valued at $217,000 after buying an additional 802 shares during the period. Argent Capital Management LLC boosted its stake in shares of Envestnet by 32.7% in the third quarter. Argent Capital Management LLC now owns 5,167 shares of the business services provider’s stock worth $228,000 after buying an additional 1,274 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Envestnet by 75.3% during the third quarter. Tower Research Capital LLC TRC now owns 6,788 shares of the business services provider’s stock worth $299,000 after acquiring an additional 2,915 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Envestnet during the third quarter valued at approximately $420,000.

Envestnet Stock Down 2.6 %

ENV stock opened at $61.68 on Tuesday. Envestnet, Inc. has a 52 week low of $33.12 and a 52 week high of $68.83. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a 50-day simple moving average of $55.04 and a 200-day simple moving average of $48.02. The stock has a market capitalization of $3.38 billion, a P/E ratio of -14.11 and a beta of 1.31.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ENV. JMP Securities reaffirmed a “market outperform” rating and set a $79.00 price objective on shares of Envestnet in a research note on Wednesday, April 17th. William Blair restated an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. StockNews.com downgraded shares of Envestnet from a “hold” rating to a “sell” rating in a research report on Monday. DA Davidson increased their target price on shares of Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada lifted their price target on Envestnet from $47.00 to $56.00 and gave the company a “sector perform” rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Envestnet presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Insider Buying and Selling

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

Envestnet Profile

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.