Cutler Group LP decreased its holdings in shares of Envestnet Inc (NYSE:ENV) by 38.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,007 shares of the business services provider’s stock after selling 2,493 shares during the period. Cutler Group LP’s holdings in Envestnet were worth $199,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in ENV. BlackRock Inc. boosted its holdings in Envestnet by 3.1% in the second quarter. BlackRock Inc. now owns 2,662,809 shares of the business services provider’s stock worth $105,446,000 after acquiring an additional 81,056 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Envestnet by 5.9% in the second quarter. New York State Common Retirement Fund now owns 46,654 shares of the business services provider’s stock worth $1,847,000 after acquiring an additional 2,599 shares in the last quarter. American Century Companies Inc. bought a new position in Envestnet in the third quarter worth approximately $2,505,000. UBS Asset Management Americas Inc. raised its stake in shares of Envestnet by 123.9% in the second quarter. UBS Asset Management Americas Inc. now owns 24,406 shares of the business services provider’s stock worth $966,000 after purchasing an additional 13,506 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its stake in shares of Envestnet by 6.3% in the third quarter. Stephens Investment Management Group LLC now owns 1,434,756 shares of the business services provider’s stock worth $73,173,000 after purchasing an additional 85,642 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.
Several analysts have recently commented on ENV shares. Zacks Investment Research raised Envestnet from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. UBS Group reaffirmed a “buy” rating and set a $63.00 price target (up from $50.00) on shares of Envestnet in a research report on Monday, October 9th. Jefferies Group increased their price target on Envestnet from $47.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $52.00 price target on shares of Envestnet in a research report on Tuesday, September 26th. Finally, Royal Bank of Canada reaffirmed a “hold” rating on shares of Envestnet in a research report on Tuesday, November 7th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Envestnet currently has an average rating of “Buy” and an average price target of $55.00.
Envestnet (NYSE:ENV) last posted its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The company had revenue of $175.61 million during 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%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. equities analysts predict that Envestnet Inc will post 0.89 earnings per share for the current year.
In other Envestnet news, President William Crager sold 5,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $53.31, for a total transaction of $266,550.00. Following the sale, the president now owns 150,555 shares in the company, valued at $8,026,087.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shelly O’brien sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $53.28, for a total value of $159,840.00. Following the sale, the insider now owns 7,292 shares in the company, valued at approximately $388,517.76. The disclosure for this sale can be found here. Insiders have sold 297,585 shares of company stock worth $15,131,761 in the last 90 days. Company insiders own 5.58% of the company’s stock.
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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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