New York State Teachers Retirement System Increases Stake in Envestnet, Inc. (NYSE:ENV)

New York State Teachers Retirement System grew its position in Envestnet, Inc. (NYSE:ENV) by 50.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,621 shares of the business services provider’s stock after acquiring an additional 4,221 shares during the quarter. New York State Teachers Retirement System’s holdings in Envestnet were worth $625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ENV. Headlands Technologies LLC purchased a new stake in shares of Envestnet in the third quarter valued at $45,000. McIlrath & Eck LLC grew its holdings in shares of Envestnet by 140.8% in the fourth quarter. McIlrath & Eck LLC now owns 802 shares of the business services provider’s stock worth $49,000 after purchasing an additional 469 shares during the last quarter. State of Tennessee Treasury Department bought a new position in shares of Envestnet in the second quarter worth about $59,000. Covestor Ltd grew its holdings in shares of Envestnet by 86.2% in the first quarter. Covestor Ltd now owns 1,398 shares of the business services provider’s stock worth $104,000 after purchasing an additional 647 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in shares of Envestnet by 186.6% in the second quarter. Benjamin Edwards Inc. now owns 2,104 shares of the business services provider’s stock worth $125,000 after purchasing an additional 1,370 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com upgraded shares of Envestnet from a “sell” rating to a “hold” rating in a report on Monday, March 25th. DA Davidson upped their price target on shares of Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. upped their price target on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. JMP Securities reiterated a “market outperform” rating and set a $79.00 target price on shares of Envestnet in a report on Wednesday. Finally, William Blair reiterated an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Envestnet currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.67.

Envestnet Stock Performance

ENV stock opened at $62.22 on Friday. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of -14.24 and a beta of 1.31. The firm has a 50-day simple moving average of $54.82 and a two-hundred day simple moving average of $47.77. Envestnet, Inc. has a one year low of $33.12 and a one year high of $68.83. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.33 by $0.10. The business had revenue of $317.63 million during the quarter, compared to analyst estimates of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. On average, equities analysts forecast that Envestnet, Inc. will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling at Envestnet

In other Envestnet news, insider Matthew Majoros sold 700 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the sale, the insider now directly owns 15,212 shares of the company’s stock, valued at $865,867.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Lauren Taylor Wolfe bought 1,670 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the purchase, the director now directly owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the sale, the insider now owns 15,212 shares of the company’s stock, valued at $865,867.04. The disclosure for this sale can be found here. Insiders own 8.90% of the company’s stock.

About Envestnet

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which 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.