Federated Hermes Inc. Has $74,000 Stock Position in Envestnet, Inc. (NYSE:ENV)

Federated Hermes Inc. lessened its stake in shares of Envestnet, Inc. (NYSE:ENV) by 98.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,500 shares of the business services provider’s stock after selling 123,538 shares during the period. Federated Hermes Inc.’s holdings in Envestnet were worth $74,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of Envestnet during the 3rd quarter valued at $45,000. PNC Financial Services Group Inc. boosted its stake in shares of Envestnet by 19.4% during the third quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 802 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of 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 purchasing an additional 2,915 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Envestnet in the third quarter valued at approximately $420,000. Finally, Victory Capital Management Inc. raised its holdings in Envestnet by 11.7% in the 3rd quarter. Victory Capital Management Inc. now owns 9,907 shares of the business services provider’s stock valued at $436,000 after buying an additional 1,035 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ENV. JMP Securities reissued a “market outperform” rating and set a $79.00 target price on shares of Envestnet in a report on Wednesday, April 17th. Raymond James increased their price objective on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Royal Bank of Canada lifted their target price on Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a report on Friday, February 23rd. StockNews.com cut Envestnet from a “hold” rating to a “sell” rating in a research note on Thursday, May 2nd. Finally, DA Davidson lifted their price objective on Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Envestnet Stock Performance

ENV stock opened at $63.43 on Tuesday. The firm has a market cap of $3.48 billion, a PE ratio of -14.51 and a beta of 1.26. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a 50-day moving average price of $57.56 and a 200-day moving average price of $49.65. Envestnet, Inc. has a 1-year low of $33.12 and a 1-year high of $68.83.

Envestnet (NYSE:ENV) last issued its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $317.63 million during the quarter, compared to the consensus estimate of $312.24 million. As a group, equities research analysts expect that Envestnet, Inc. will post 1.78 earnings per share for the current year.

Insider Activity

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

Envestnet Company 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.