US Bancorp DE Lowers Position in Envestnet, Inc. (NYSE:ENV)

US Bancorp DE lowered its holdings in Envestnet, Inc. (NYSE:ENV – Get Rating) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 38,943 shares of the business services provider’s stock after selling 436 shares during the quarter. US Bancorp DE’s holdings in Envestnet were worth $1,729,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ENV. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Envestnet by 2.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,280 shares of the business services provider’s stock valued at $616,000 after acquiring an additional 198 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Envestnet by 8.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the business services provider’s stock valued at $249,000 after acquiring an additional 267 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Envestnet by 2.4% in the 1st quarter. Rhumbline Advisers now owns 152,849 shares of the business services provider’s stock valued at $11,378,000 after acquiring an additional 3,542 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Envestnet by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,026 shares of the business services provider’s stock valued at $1,491,000 after purchasing an additional 1,909 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Envestnet by 9.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 29,683 shares of the business services provider’s stock valued at $2,271,000 after purchasing an additional 2,517 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ENV shares. DA Davidson increased their price objective on Envestnet from $70.00 to $74.00 in a research report on Wednesday, January 4th. StockNews.com lowered Envestnet from a “hold” rating to a “sell” rating in a research report on Saturday, November 19th. The Goldman Sachs Group reduced their price objective on Envestnet from $65.00 to $56.00 and set a “neutral” rating on the stock in a research report on Monday, October 3rd. Raymond James lowered Envestnet from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $63.00 to $71.00 in a research report on Friday, January 6th. Finally, JMP Securities reduced their price objective on Envestnet from $82.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $66.50.

Envestnet Price Performance

ENV opened at $66.60 on Tuesday. The stock’s 50 day simple moving average is $59.42 and its 200 day simple moving average is $54.19. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.64 and a quick ratio of 0.64. Envestnet, Inc. has a 1 year low of $41.72 and a 1 year high of $84.58. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of -74.83 and a beta of 1.21.

Envestnet (NYSE:ENV – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The business services provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. The firm had revenue of $306.70 million for the quarter, compared to analyst estimates of $302.87 million. Envestnet had a positive return on equity of 6.59% and a negative net margin of 3.91%. As a group, analysts predict that Envestnet, Inc. will post 0.92 earnings per share for the current year.

About Envestnet

(Get Rating)

Envestnet, Inc, together with its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through Envestnet Wealth Solutions and Envestnet Data & Analytics segments. The company's Envestnet Wealth Solutions segment offers Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as offers 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; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.