Strs Ohio Cuts Stock Position in Envestnet, Inc. (NYSE:ENV)

Strs Ohio lessened its holdings in Envestnet, Inc. (NYSE:ENVGet Rating) by 34.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,900 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Strs Ohio’s holdings in Envestnet were worth $84,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. State Street Corp increased its stake in Envestnet by 2.7% in the 1st quarter. State Street Corp now owns 1,713,638 shares of the business services provider’s stock worth $127,563,000 after buying an additional 44,600 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Envestnet by 87.4% during the second quarter. Brown Advisory Inc. now owns 1,325,941 shares of the business services provider’s stock valued at $69,969,000 after purchasing an additional 618,360 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Envestnet by 0.3% during the first quarter. Clearbridge Investments LLC now owns 1,164,284 shares of the business services provider’s stock valued at $86,669,000 after purchasing an additional 3,450 shares in the last quarter. Van Berkom & Associates Inc. grew its position in shares of Envestnet by 7.4% during the second quarter. Van Berkom & Associates Inc. now owns 1,129,044 shares of the business services provider’s stock valued at $59,580,000 after purchasing an additional 77,467 shares in the last quarter. Finally, Eaton Vance Management grew its position in shares of Envestnet by 9.3% during the first quarter. Eaton Vance Management now owns 920,714 shares of the business services provider’s stock valued at $68,537,000 after purchasing an additional 78,656 shares in the last quarter.

Envestnet Stock Up 2.0 %

Shares of NYSE ENV opened at $66.32 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $3.67 billion, a P/E ratio of -74.52 and a beta of 1.21. Envestnet, Inc. has a 1 year low of $41.72 and a 1 year high of $84.58. The firm has a 50-day simple moving average of $60.68 and a two-hundred day simple moving average of $54.54.

Envestnet (NYSE:ENVGet Rating) last posted its quarterly earnings results on Tuesday, November 8th. The business services provider reported $0.24 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $306.70 million during the quarter, compared to the consensus estimate of $302.87 million. Research analysts anticipate that Envestnet, Inc. will post 0.92 earnings per share for the current year.

Analysts Set New Price Targets

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

Envestnet Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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