Virginia Retirement Systems ET AL purchased a new stake in Envestnet, Inc (NYSE:ENV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 63,300 shares of the business services provider’s stock, valued at approximately $2,507,000. Virginia Retirement Systems ET AL owned about 0.14% of Envestnet at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Advisors LLC boosted its position in shares of Envestnet by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 67,770 shares of the business services provider’s stock valued at $2,389,000 after buying an additional 741 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Envestnet by 21.4% in the first quarter. Nationwide Fund Advisors now owns 281,018 shares of the business services provider’s stock valued at $9,077,000 after buying an additional 49,532 shares in the last quarter. First Mercantile Trust Co. boosted its position in shares of Envestnet by 22.9% in the first quarter. First Mercantile Trust Co. now owns 14,708 shares of the business services provider’s stock valued at $475,000 after buying an additional 2,742 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Envestnet by 2.5% in the first quarter. Russell Investments Group Ltd. now owns 158,838 shares of the business services provider’s stock valued at $5,130,000 after buying an additional 3,800 shares in the last quarter. Finally, Geneva Advisors LLC boosted its position in shares of Envestnet by 3.2% in the first quarter. Geneva Advisors LLC now owns 41,274 shares of the business services provider’s stock valued at $1,333,000 after buying an additional 1,274 shares in the last quarter. Institutional investors and hedge funds own 95.51% of the company’s stock.

Envestnet, Inc (NYSE:ENV) opened at 42.60 on Tuesday. Envestnet, Inc has a 1-year low of $30.80 and a 1-year high of $45.17. The stock’s market cap is $1.88 billion. The company’s 50 day moving average is $40.54 and its 200-day moving average is $37.19.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.01. Envestnet had a positive return on equity of 7.78% and a negative net margin of 8.93%. The company had revenue of $167.50 million for the quarter, compared to analyst estimates of $164.04 million. During the same period last year, the company earned $0.21 earnings per share. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities research analysts forecast that Envestnet, Inc will post $1.29 earnings per share for the current fiscal year.

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ENV has been the topic of several analyst reports. Royal Bank Of Canada reiterated a “hold” rating and set a $40.00 price target on shares of Envestnet in a research note on Thursday, May 11th. BidaskClub upgraded shares of Envestnet from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. William Blair reiterated a “buy” rating on shares of Envestnet in a research note on Wednesday, June 28th. DA Davidson initiated coverage on shares of Envestnet in a research note on Thursday, July 6th. They set a “neutral” rating and a $42.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.50.

In other news, insider Scott D. Grinis sold 15,000 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $39.21, for a total transaction of $588,150.00. Following the transaction, the insider now directly owns 226,454 shares of the company’s stock, valued at approximately $8,879,261.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Joshua Mayer sold 1,500 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $43.66, for a total transaction of $65,490.00. Following the transaction, the chief operating officer now directly owns 13,796 shares in the company, valued at $602,333.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 3,949 shares of company stock worth $146,288 and have sold 34,472 shares worth $1,365,774. Corporate insiders own 5.58% of the company’s stock.

Envestnet Company Profile

Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.

Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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