Raymond James Financial Services Advisors Inc. Has $574,000 Position in Envestnet, Inc. (NYSE:ENV)

Raymond James Financial Services Advisors Inc. increased its stake in shares of Envestnet, Inc. (NYSE:ENVGet Rating) by 30.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,936 shares of the business services provider’s stock after buying an additional 3,040 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Envestnet were worth $574,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State of Michigan Retirement System lifted its position in Envestnet by 1.4% during the second quarter. State of Michigan Retirement System now owns 14,071 shares of the business services provider’s stock worth $743,000 after acquiring an additional 200 shares during the last quarter. CWM LLC boosted its holdings in shares of Envestnet by 156.8% during the second quarter. CWM LLC now owns 796 shares of the business services provider’s stock worth $42,000 after acquiring an additional 486 shares during the period. Regatta Capital Group LLC boosted its holdings in shares of Envestnet by 2.7% during the second quarter. Regatta Capital Group LLC now owns 18,816 shares of the business services provider’s stock worth $993,000 after acquiring an additional 491 shares during the period. IMA Wealth Inc. boosted its holdings in shares of Envestnet by 0.4% during the second quarter. IMA Wealth Inc. now owns 40,950 shares of the business services provider’s stock worth $2,161,000 after acquiring an additional 179 shares during the period. Finally, Harbor Spring Capital LLC boosted its holdings in shares of Envestnet by 45.5% during the second quarter. Harbor Spring Capital LLC now owns 385,000 shares of the business services provider’s stock worth $20,316,000 after acquiring an additional 120,311 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JMP Securities reduced their price objective on Envestnet from $82.00 to $80.00 and set a “market outperform” rating for the company in a report on Wednesday, November 9th. DA Davidson boosted their price objective on Envestnet from $70.00 to $74.00 in a report on Wednesday, January 4th. Raymond James cut Envestnet from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $63.00 to $71.00 in a report on Friday, January 6th. Jefferies Financial Group cut their price target on Envestnet from $71.00 to $40.00 in a research note on Monday, November 7th. Finally, The Goldman Sachs Group cut their price target on Envestnet from $65.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $65.78.

Envestnet Stock Down 2.0 %

Shares of ENV opened at $65.16 on Wednesday. Envestnet, Inc. has a one year low of $41.72 and a one year high of $84.58. The company has a market cap of $3.61 billion, a P/E ratio of -73.21 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. The firm has a 50 day simple moving average of $61.07 and a two-hundred day simple moving average of $54.74.

Envestnet (NYSE:ENVGet Rating) last announced its quarterly earnings results 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. 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 the consensus estimate of $302.87 million. Research analysts forecast that Envestnet, Inc. will post 0.92 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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