Wasatch Advisors Inc. Lowers Position in Envestnet Inc (ENV)
Wasatch Advisors Inc. trimmed its position in shares of Envestnet Inc (NYSE:ENV) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,879,458 shares of the business services provider’s stock after selling 84,716 shares during the period. Envestnet makes up approximately 1.2% of Wasatch Advisors Inc.’s holdings, making the stock its 23rd largest holding. Wasatch Advisors Inc.’s holdings in Envestnet were worth $93,691,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of ENV. D.A. Davidson & CO. grew its stake in shares of Envestnet by 13.0% in the 2nd quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 379 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Envestnet by 5.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 204 shares during the period. Zions Bancorporation bought a new stake in shares of Envestnet in the 3rd quarter valued at approximately $181,000. Personal Capital Advisors Corp bought a new stake in shares of Envestnet in the 3rd quarter valued at approximately $203,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Envestnet by 525.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock valued at $204,000 after purchasing an additional 4,328 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.
Several equities research analysts have recently weighed in on the company. William Blair reiterated an “ourperform” rating on shares of Envestnet in a research note on Tuesday, September 26th. Zacks Investment Research upgraded Envestnet from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, October 10th. UBS Group lowered their price objective on Envestnet from $63.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 17th. JMP Securities upped 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. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $48.00 price objective on shares of Envestnet in a research note on Thursday, October 5th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Envestnet presently has an average rating of “Buy” and a consensus price target of $55.00.
Envestnet Inc (ENV) traded down $1.10 during midday trading on Tuesday, reaching $52.80. The company had a trading volume of 274,447 shares, compared to its average volume of 227,010. The company has a market cap of $2,388.08, a price-to-earnings ratio of -42.93, a PEG ratio of 2.91 and a beta of 1.91. Envestnet Inc has a 1-year low of $30.80 and a 1-year high of $55.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.90 and a current ratio of 0.90.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.02. The business had revenue of $175.61 million for the quarter, compared to analyst estimates of $171.57 million. Envestnet had a positive return on equity of 8.92% and a negative net margin of 8.15%. Envestnet’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 EPS. research analysts anticipate that Envestnet Inc will post 0.89 earnings per share for the current year.
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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