Envestnet, Inc (ENV) Stake Lifted by First Trust Advisors LP

First Trust Advisors LP lifted its holdings in Envestnet, Inc (NYSE:ENV) by 193.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,896 shares of the business services provider’s stock after purchasing an additional 34,897 shares during the quarter. First Trust Advisors LP owned 0.12% of Envestnet worth $2,698,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Nationwide Fund Advisors grew its stake in shares of Envestnet by 45.7% in the third quarter. Nationwide Fund Advisors now owns 397,559 shares of the business services provider’s stock worth $20,276,000 after purchasing an additional 124,733 shares in the last quarter. Personal Capital Advisors Corp bought a new position in shares of Envestnet in the third quarter worth $203,000. Financial Consulate Inc. grew its stake in shares of Envestnet by 4.6% in the third quarter. Financial Consulate Inc. now owns 62,550 shares of the business services provider’s stock worth $3,190,000 after purchasing an additional 2,774 shares in the last quarter. Ashford Capital Management Inc. grew its stake in shares of Envestnet by 2.6% in the second quarter. Ashford Capital Management Inc. now owns 240,496 shares of the business services provider’s stock worth $9,524,000 after purchasing an additional 6,067 shares in the last quarter. Finally, Wasatch Advisors Inc. grew its stake in shares of Envestnet by 3.0% in the second quarter. Wasatch Advisors Inc. now owns 1,985,952 shares of the business services provider’s stock worth $78,644,000 after purchasing an additional 57,555 shares in the last quarter. 93.28% of the stock is owned by institutional investors.

Shares of Envestnet, Inc (ENV) opened at $49.55 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $2,202.00, a price-to-earnings ratio of 63.72, a PEG ratio of 3.69 and a beta of 1.97. Envestnet, Inc has a twelve month low of $30.80 and a twelve month high of $55.15.

Envestnet (NYSE:ENV) last announced its earnings results on Wednesday, November 8th. The business services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. Envestnet had a positive return on equity of 8.92% and a negative net margin of 8.15%. The business had revenue of $175.61 million during the quarter, compared to the consensus estimate of $171.57 million. During the same period in the prior year, the business posted $0.28 earnings per share. Envestnet’s revenue was up 17.7% compared to the same quarter last year. analysts forecast that Envestnet, Inc will post 0.9 EPS for the current year.

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In other news, Director Gayle A. Crowell sold 746 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $44.45, for a total transaction of $33,159.70. Following the completion of the sale, the director now directly owns 801 shares of the company’s stock, valued at $35,604.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anil Arora sold 16,418 shares of the company’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $50.00, for a total value of $820,900.00. Following the sale, the insider now directly owns 56,175 shares of the company’s stock, valued at $2,808,750. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,464 shares of company stock valued at $8,217,883. 7.80% of the stock is currently owned by company insiders.

Several research analysts have recently issued reports on the company. Zacks Investment Research cut Envestnet from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. JMP Securities upped their price objective on Envestnet from $48.00 to $56.00 and gave the company an “outperform” rating in a report 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 (up previously from $45.00) on shares of Envestnet in a report on Thursday, August 10th. UBS AG cut their price objective on Envestnet from $63.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 17th. Finally, Raymond James Financial, Inc. upped their price objective on Envestnet from $44.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Envestnet presently has an average rating of “Buy” and a consensus price target of $55.13.

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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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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