Robeco Institutional Asset Management B.V. increased its position in shares of Envestnet Inc (NYSE:ENV) by 46.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 317,500 shares of the business services provider’s stock after purchasing an additional 100,000 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.70% of Envestnet worth $19,352,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Wasatch Advisors Inc. increased its position in Envestnet by 38.6% during the second quarter. Wasatch Advisors Inc. now owns 2,489,378 shares of the business services provider’s stock worth $136,791,000 after buying an additional 692,878 shares in the last quarter. BlackRock Inc. increased its position in Envestnet by 16.7% during the second quarter. BlackRock Inc. now owns 3,150,212 shares of the business services provider’s stock worth $173,104,000 after buying an additional 451,887 shares in the last quarter. Wells Fargo & Company MN increased its position in Envestnet by 5.8% during the second quarter. Wells Fargo & Company MN now owns 3,651,578 shares of the business services provider’s stock worth $200,655,000 after buying an additional 198,782 shares in the last quarter. Voya Investment Management LLC increased its position in Envestnet by 26.8% during the second quarter. Voya Investment Management LLC now owns 780,575 shares of the business services provider’s stock worth $42,894,000 after buying an additional 164,976 shares in the last quarter. Finally, Fiera Capital Corp increased its position in Envestnet by 49.2% during the second quarter. Fiera Capital Corp now owns 461,346 shares of the business services provider’s stock worth $25,351,000 after buying an additional 152,181 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.
In other Envestnet news, President William Crager sold 12,000 shares of the business’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $60.99, for a total transaction of $731,880.00. Following the completion of the sale, the president now owns 212,252 shares of the company’s stock, valued at $12,945,249.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anil Arora sold 567 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $62.41, for a total value of $35,386.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,883 shares of company stock valued at $3,373,214. Company insiders own 5.49% of the company’s stock.
Envestnet (NYSE:ENV) last announced its quarterly earnings data on Tuesday, August 7th. The business services provider reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.04. The business had revenue of $201.12 million during the quarter, compared to the consensus estimate of $199.52 million. Envestnet had a return on equity of 10.75% and a net margin of 2.50%. On average, research analysts anticipate that Envestnet Inc will post 1.25 earnings per share for the current fiscal year.
ENV has been the subject of several recent research reports. DA Davidson raised their price target on Envestnet to $56.00 and gave the stock an “average” rating in a research report on Thursday, July 5th. TheStreet raised Envestnet from a “c+” rating to a “b-” rating in a research report on Monday, July 16th. UBS Group raised their price target on Envestnet from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Envestnet in a research report on Wednesday, July 18th. Finally, Zacks Investment Research raised Envestnet from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Thursday, October 4th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $63.50.
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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