State of New Jersey Common Pension Fund D Boosts Stock Holdings in Envestnet, Inc. (NYSE:ENV)

State of New Jersey Common Pension Fund D boosted its stake in shares of Envestnet, Inc. (NYSE:ENVGet Rating) by 36.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 44,317 shares of the business services provider’s stock after buying an additional 11,864 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Envestnet were worth $1,968,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Cambiar Investors LLC grew its stake in Envestnet by 8.2% during the third quarter. Cambiar Investors LLC now owns 29,934 shares of the business services provider’s stock valued at $1,329,000 after acquiring an additional 2,281 shares in the last quarter. Money Concepts Capital Corp grew its stake in shares of Envestnet by 5,714.4% in the 3rd quarter. Money Concepts Capital Corp now owns 12,908 shares of the business services provider’s stock worth $573,000 after buying an additional 12,686 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Envestnet by 30.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 12,936 shares of the business services provider’s stock worth $574,000 after buying an additional 3,040 shares in the last quarter. Mayflower Financial Advisors LLC purchased a new position in shares of Envestnet in the 3rd quarter worth $265,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Envestnet in the 3rd quarter worth $653,000.

Envestnet Trading Down 1.3 %

Shares of ENV opened at $65.01 on Friday. Envestnet, Inc. has a 1-year low of $41.72 and a 1-year high of $84.58. The company has a 50-day moving average of $60.44 and a 200 day moving average of $54.44. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of -73.04 and a beta of 1.21. 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 (NYSE:ENVGet Rating) last announced its quarterly earnings data on Tuesday, November 8th. The business services provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.08. Envestnet had a negative net margin of 3.91% and a positive return on equity of 6.59%. The company had revenue of $306.70 million during the quarter, compared to analyst estimates of $302.87 million. On average, research analysts expect that Envestnet, Inc. will post 0.92 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on ENV. DA Davidson lifted their price objective on shares of Envestnet from $70.00 to $74.00 in a research note on Wednesday, January 4th. Jefferies Financial Group lowered their target price on shares of Envestnet from $71.00 to $40.00 in a report on Monday, November 7th. StockNews.com lowered shares of Envestnet from a “hold” rating to a “sell” rating in a report on Saturday, November 19th. JMP Securities lowered their target price on shares of Envestnet from $82.00 to $80.00 and set a “market outperform” rating for the company in a report on Wednesday, November 9th. Finally, Raymond James lowered shares of Envestnet from a “strong-buy” rating to an “outperform” rating and raised their target price for the stock from $63.00 to $71.00 in a report on Friday, January 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $66.50.

Envestnet Company Profile

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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.

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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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