Stifel Financial Corp raised its position in shares of Envestnet Inc (NYSE:ENV) by 31.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,958 shares of the business services provider’s stock after purchasing an additional 5,432 shares during the period. Stifel Financial Corp owned approximately 0.05% of Envestnet worth $1,316,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. raised its position in Envestnet by 1.0% during the fourth quarter. BlackRock Inc. now owns 2,699,362 shares of the business services provider’s stock valued at $134,564,000 after purchasing an additional 27,689 shares in the last quarter. OppenheimerFunds Inc. grew its stake in shares of Envestnet by 1.7% during the fourth quarter. OppenheimerFunds Inc. now owns 609,122 shares of the business services provider’s stock worth $30,365,000 after buying an additional 10,476 shares during the last quarter. Northern Trust Corp grew its stake in shares of Envestnet by 0.4% during the first quarter. Northern Trust Corp now owns 608,054 shares of the business services provider’s stock worth $34,841,000 after buying an additional 2,359 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Envestnet by 30.2% during the first quarter. PNC Financial Services Group Inc. now owns 540,250 shares of the business services provider’s stock worth $30,958,000 after buying an additional 125,359 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its stake in shares of Envestnet by 21.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 482,907 shares of the business services provider’s stock worth $24,073,000 after buying an additional 86,473 shares during the last quarter. Institutional investors and hedge funds own 91.23% of the company’s stock.
Envestnet opened at $56.90 on Wednesday, according to Marketbeat Ratings. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 58.85, a P/E/G ratio of 3.19 and a beta of 1.70. Envestnet Inc has a fifty-two week low of $37.40 and a fifty-two week high of $60.28. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.92.
Envestnet (NYSE:ENV) last issued its quarterly earnings data on Wednesday, May 9th. The business services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Envestnet had a net margin of 2.48% and a return on equity of 10.66%. The company had revenue of $198.00 million for the quarter, compared to analysts’ expectations of $194.00 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Envestnet’s revenue for the quarter was up 25.5% on a year-over-year basis. sell-side analysts predict that Envestnet Inc will post 1.24 earnings per share for the current year.
In related news, Director Gayle A. Crowell sold 745 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $57.10, for a total value of $42,539.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shelly O’brien sold 4,000 shares of the business’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $54.23, for a total transaction of $216,920.00. The disclosure for this sale can be found here. In the last three months, insiders sold 12,045 shares of company stock worth $663,021. 5.49% of the stock is currently owned by insiders.
A number of research firms have weighed in on ENV. Sandler O’Neill reaffirmed a “hold” rating and set a $56.00 target price on shares of Envestnet in a research note on Tuesday, April 10th. Zacks Investment Research raised shares of Envestnet from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. Finally, ValuEngine raised shares of Envestnet from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $55.11.
Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides 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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