Charles Schwab Investment Management Inc. Acquires 38,416 Shares of Envestnet, Inc. (NYSE:ENV)

Charles Schwab Investment Management Inc. raised its holdings in Envestnet, Inc. (NYSE:ENV) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 508,579 shares of the business services provider’s stock after purchasing an additional 38,416 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.93% of Envestnet worth $25,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of ENV. Van Berkom & Associates Inc. grew its stake in Envestnet by 33.2% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock valued at $77,603,000 after purchasing an additional 438,994 shares during the period. Qube Research & Technologies Ltd bought a new position in Envestnet in the 3rd quarter valued at $5,604,000. Schonfeld Strategic Advisors LLC grew its stake in Envestnet by 46.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 390,860 shares of the business services provider’s stock valued at $17,210,000 after purchasing an additional 123,866 shares during the period. Envestnet Asset Management Inc. grew its stake in Envestnet by 113.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 163,161 shares of the business services provider’s stock valued at $7,184,000 after purchasing an additional 86,585 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Envestnet by 86.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 132,900 shares of the business services provider’s stock valued at $5,852,000 after purchasing an additional 61,800 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. DA Davidson increased their price target on Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. StockNews.com upgraded Envestnet from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. William Blair reiterated an “outperform” rating on shares of Envestnet in a research note on Wednesday, March 27th. Jefferies Financial Group upgraded Envestnet from an “underperform” rating to a “hold” rating and increased their price target for the stock from $47.00 to $59.00 in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada increased their price target on Envestnet from $56.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.14.

Envestnet Stock Performance

Shares of ENV opened at $68.48 on Friday. The stock’s 50-day simple moving average is $61.12 and its 200 day simple moving average is $52.08. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of -19.23 and a beta of 1.26. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.19 and a current ratio of 1.19. Envestnet, Inc. has a 52-week low of $33.12 and a 52-week high of $73.04.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.10. Envestnet had a positive return on equity of 14.75% and a negative net margin of 15.33%. The firm had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $312.24 million. Research 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 firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.92, for a total value of $39,844.00. Following the sale, the insider now owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Envestnet news, Director Lauren Taylor Wolfe purchased 1,670 shares of the stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $52.99 per share, with a total value of $88,493.30. Following the acquisition, the director now directly owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the transaction, the insider now directly owns 15,212 shares in the company, valued at $865,867.04. The disclosure for this sale can be found here. Insiders own 8.90% of the company’s stock.

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.