Raymond James & Associates Sells 4,707 Shares of Envestnet, Inc. (NYSE:ENV)

Raymond James & Associates lowered its position in shares of Envestnet, Inc. (NYSE:ENV) by 22.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,695 shares of the business services provider’s stock after selling 4,707 shares during the period. Raymond James & Associates’ holdings in Envestnet were worth $827,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ENV. Headlands Technologies LLC bought a new stake in shares of Envestnet in the 3rd quarter worth $45,000. PNC Financial Services Group Inc. raised its position in Envestnet by 19.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock worth $217,000 after buying an additional 802 shares during the last quarter. Argent Capital Management LLC lifted its stake in Envestnet by 32.7% during the 3rd quarter. Argent Capital Management LLC now owns 5,167 shares of the business services provider’s stock valued at $228,000 after acquiring an additional 1,274 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Envestnet by 75.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,788 shares of the business services provider’s stock valued at $299,000 after acquiring an additional 2,915 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Envestnet in the third quarter worth approximately $420,000.

Insiders Place Their Bets

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

Envestnet Trading Down 2.6 %

NYSE:ENV opened at $61.68 on Tuesday. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -14.11 and a beta of 1.31. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day moving average price of $55.04 and a 200-day moving average price of $48.02. Envestnet, Inc. has a one year low of $33.12 and a one year high of $68.83.

Envestnet (NYSE:ENV) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.33 by $0.10. The firm had revenue of $317.63 million for the quarter, compared to the consensus estimate of $312.24 million. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. Sell-side analysts forecast that Envestnet, Inc. will post 1.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ENV shares. JMP Securities restated a “market outperform” rating and set a $79.00 price objective on shares of Envestnet in a research report on Wednesday, April 17th. William Blair reissued an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. Raymond James raised their price target on Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada upped their price objective on Envestnet from $47.00 to $56.00 and gave the company a “sector perform” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. raised their target price on Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Envestnet has a consensus rating of “Moderate Buy” and a consensus price target of $63.67.

Envestnet Company Profile

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.