Oppenheimer Asset Management Inc. Cuts Holdings in Envestnet, Inc. (NYSE:ENV)

Oppenheimer Asset Management Inc. decreased its holdings in shares of Envestnet, Inc. (NYSE:ENVFree Report) by 1.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 35,790 shares of the business services provider’s stock after selling 525 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Envestnet were worth $1,576,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ENV. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Envestnet by 2.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,280 shares of the business services provider’s stock worth $616,000 after purchasing an additional 198 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Envestnet by 8.7% during the first quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the business services provider’s stock worth $249,000 after purchasing an additional 267 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Envestnet by 2.4% during the first quarter. Rhumbline Advisers now owns 152,849 shares of the business services provider’s stock worth $11,378,000 after purchasing an additional 3,542 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of 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 purchasing an additional 1,909 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Envestnet by 9.3% during the first quarter. Great West Life Assurance Co. Can now owns 29,683 shares of the business services provider’s stock worth $2,271,000 after purchasing an additional 2,517 shares during the last quarter.

Envestnet Trading Up 2.3 %

NYSE:ENV opened at $52.27 on Wednesday. The business’s 50-day moving average is $48.25 and its two-hundred day moving average is $47.22. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.75 and a quick ratio of 0.75. Envestnet, Inc. has a 12 month low of $33.12 and a 12 month high of $69.22. The firm has a market capitalization of $2.86 billion, a PE ratio of -27.95 and a beta of 1.32.

Envestnet (NYSE:ENVGet Free Report) last announced its earnings results on Wednesday, November 8th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. Envestnet had a positive return on equity of 9.32% and a negative net margin of 7.54%. The business had revenue of $316.85 million for the quarter, compared to analyst estimates of $318.45 million. Research analysts predict that Envestnet, Inc. will post 1.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ENV has been the topic of several analyst reports. Raymond James raised their price objective on Envestnet from $46.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Royal Bank of Canada reduced their target price on Envestnet from $67.00 to $47.00 and set a “sector perform” rating on the stock in a report on Thursday, November 9th. UBS Group reduced their target price on Envestnet from $78.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. StockNews.com cut Envestnet from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Finally, DA Davidson lifted their target price on Envestnet from $66.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

Get Our Latest Stock Analysis on Envestnet

Envestnet Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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