Radnor Capital Management LLC Trims Holdings in Envestnet, Inc. (NYSE:ENV)

Radnor Capital Management LLC cut its position in shares of Envestnet, Inc. (NYSE:ENV) by 41.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,000 shares of the business services provider’s stock after selling 2,780 shares during the quarter. Radnor Capital Management LLC’s holdings in Envestnet were worth $237,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. lifted its stake in Envestnet by 135.3% in the first quarter. Benjamin Edwards Inc. now owns 734 shares of the business services provider’s stock valued at $43,000 after buying an additional 422 shares during the last quarter. McIlrath & Eck LLC grew its holdings in Envestnet by 140.8% during the fourth quarter. McIlrath & Eck LLC now owns 802 shares of the business services provider’s stock worth $49,000 after acquiring an additional 469 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Envestnet by 88.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,319 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 620 shares during the period. Covestor Ltd boosted its position in shares of Envestnet by 86.2% in the 1st quarter. Covestor Ltd now owns 1,398 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 647 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in shares of Envestnet in the 4th quarter valued at $209,000.

Envestnet Price Performance

Shares of ENV traded down $0.22 on Friday, reaching $51.29. 151,893 shares of the stock traded hands, compared to its average volume of 426,182. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.73 and a current ratio of 0.73. Envestnet, Inc. has a 12 month low of $41.72 and a 12 month high of $69.22. The stock’s 50-day moving average price is $56.41 and its 200-day moving average price is $57.24.

Envestnet (NYSE:ENV) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $312.43 million for the quarter, compared to analyst estimates of $315.10 million. Envestnet had a positive return on equity of 7.80% and a negative net margin of 8.79%. On average, research analysts anticipate that Envestnet, Inc. will post 1.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Envestnet in a research report on Friday, June 30th. Raymond James decreased their price objective on Envestnet from $74.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. DA Davidson decreased their price objective on Envestnet from $74.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, August 8th. Finally, StockNews.com upgraded Envestnet from a “sell” rating to a “hold” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.50.

Insiders Place Their Bets

In other news, SVP Barry D. Cooper sold 690 shares of the business’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $58.19, for a total transaction of $40,151.10. Following the completion of the sale, the senior vice president now owns 29,175 shares in the company, valued at $1,697,693.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Envestnet news, SVP Barry D. Cooper sold 690 shares of the stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $58.19, for a total value of $40,151.10. Following the completion of the sale, the senior vice president now directly owns 29,175 shares in the company, valued at $1,697,693.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barbara Turner purchased 2,000 shares of the stock in a transaction on Wednesday, June 21st. The stock was acquired at an average price of $54.39 per share, with a total value of $108,780.00. Following the completion of the acquisition, the director now directly owns 3,534 shares of the company’s stock, valued at $192,214.26. The disclosure for this purchase can be found here. Insiders own 9.20% of the company’s stock.

Envestnet Profile

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 Envestnet Wealth Solutions segment offers Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as 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.