Bamco Inc. NY Raises Position in Envestnet, Inc (ENV)
Bamco Inc. NY raised its position in Envestnet, Inc (NYSE:ENV) by 23.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 133,925 shares of the business services provider’s stock after buying an additional 25,000 shares during the period. Bamco Inc. NY owned about 0.30% of Envestnet worth $5,303,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of ENV. Vanguard Group Inc. increased its stake in Envestnet by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,454,623 shares of the business services provider’s stock worth $136,803,000 after buying an additional 188,892 shares in the last quarter. BlackRock Inc. lifted its position in shares of Envestnet by 3.1% in the second quarter. BlackRock Inc. now owns 2,662,809 shares of the business services provider’s stock valued at $105,446,000 after acquiring an additional 81,056 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in shares of Envestnet by 14.1% in the first quarter. TimesSquare Capital Management LLC now owns 2,235,015 shares of the business services provider’s stock valued at $72,191,000 after acquiring an additional 275,955 shares in the last quarter. Van Berkom & Associates Inc. lifted its position in shares of Envestnet by 8.8% in the second quarter. Van Berkom & Associates Inc. now owns 1,653,145 shares of the business services provider’s stock valued at $65,465,000 after acquiring an additional 133,303 shares in the last quarter. Finally, DF Dent & Co. Inc. lifted its position in shares of Envestnet by 6.0% in the first quarter. DF Dent & Co. Inc. now owns 1,508,842 shares of the business services provider’s stock valued at $48,736,000 after acquiring an additional 84,876 shares in the last quarter. Institutional investors own 95.51% of the company’s stock.
In other Envestnet news, COO Joshua Mayer sold 1,500 shares of the firm’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 completion of the transaction, the chief operating officer now owns 13,796 shares of the company’s stock, valued at $602,333.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anil Arora sold 8,980 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $40.00, for a total value of $359,200.00. Following the transaction, the insider now directly owns 68,609 shares of the company’s stock, valued at approximately $2,744,360. The disclosure for this sale can be found here. Insiders have sold a total of 30,890 shares of company stock valued at $1,429,263 over the last 90 days. Insiders own 5.58% of the company’s stock.
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A number of brokerages have recently issued reports on ENV. William Blair reaffirmed an “ourperform” rating on shares of Envestnet in a research note on Tuesday, September 26th. JMP Securities increased their price objective on Envestnet from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, September 26th. They noted that the move was a valuation call. Stifel Nicolaus restated a “buy” rating and issued a $52.00 price objective on shares of Envestnet in a report on Tuesday, September 26th. Royal Bank Of Canada restated a “hold” rating on shares of Envestnet in a report on Monday, September 11th. Finally, Zacks Investment Research lowered Envestnet from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $47.00.
Shares of Envestnet, Inc (NYSE:ENV) opened at 51.00 on Monday. Envestnet, Inc has a 52-week low of $30.80 and a 52-week high of $51.15. The stock’s market capitalization is $2.25 billion. The stock has a 50 day moving average price of $43.29 and a 200-day moving average price of $37.95.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The business had revenue of $167.50 million during the quarter, compared to analyst estimates of $164.04 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities research analysts predict that Envestnet, Inc will post $1.29 EPS for the current fiscal year.
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.
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