SG Americas Securities LLC Lowers Stake in Envestnet, Inc. (NYSE:ENV)

SG Americas Securities LLC cut its holdings in Envestnet, Inc. (NYSE:ENVGet Rating) by 40.7% in the third quarter, Holdings Channel reports. The institutional investor owned 14,957 shares of the business services provider’s stock after selling 10,245 shares during the quarter. SG Americas Securities LLC’s holdings in Envestnet were worth $664,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ENV. Raymond James Financial Services Advisors Inc. lifted its holdings in 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 purchasing an additional 198 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Envestnet by 8.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the business services provider’s stock valued at $249,000 after purchasing an additional 267 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Envestnet by 2.4% in the first quarter. Rhumbline Advisers now owns 152,849 shares of the business services provider’s stock valued at $11,378,000 after purchasing an additional 3,542 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Envestnet by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,026 shares of the business services provider’s stock worth $1,491,000 after buying an additional 1,909 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted 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 acquiring an additional 2,517 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have weighed in on ENV shares. StockNews.com lowered shares of Envestnet from a “hold” rating to a “sell” rating in a research note on Saturday, November 19th. JMP Securities cut their target price 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. The Goldman Sachs Group lowered their target price on Envestnet from $65.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, October 3rd. DA Davidson raised their target price on Envestnet from $70.00 to $74.00 in a report on Wednesday, January 4th. Finally, Jefferies Financial Group cut their target price on shares of Envestnet from $71.00 to $40.00 in a research note on Monday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Envestnet currently has a consensus rating of “Hold” and a consensus target price of $66.50.

Envestnet Stock Up 2.0 %

Shares of NYSE:ENV opened at $66.32 on Friday. The company has a market capitalization of $3.67 billion, a PE ratio of -74.52 and a beta of 1.21. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.54. Envestnet, Inc. has a twelve month low of $41.72 and a twelve month high of $84.58. The firm has a 50 day simple moving average of $60.68 and a 200-day simple moving average of $54.54.

Envestnet (NYSE:ENVGet Rating) last issued its quarterly earnings data on Tuesday, November 8th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.08. The company 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%. On average, equities analysts predict that Envestnet, Inc. will post 0.92 EPS for the current fiscal year.

About Envestnet

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Envestnet, Inc engages in the provision of intelligent systems for wealth management and financial wellness. It operates through the following segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment provides unified wealth management software and services to empower financial advisors and institutions.

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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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