Mutual of America Capital Management LLC Has $2.59 Million Stake in Envestnet, Inc. (NYSE:ENV)

Mutual of America Capital Management LLC increased its stake in shares of Envestnet, Inc. (NYSE:ENV) by 382.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,330 shares of the business services provider’s stock after buying an additional 32,761 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Envestnet were worth $2,587,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its position in shares of Envestnet by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 11,552 shares of the business services provider’s stock valued at $723,000 after acquiring an additional 286 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Envestnet by 2.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider’s stock worth $1,633,000 after buying an additional 543 shares in the last quarter. Natixis increased its holdings in Envestnet by 12.9% in the 1st quarter. Natixis now owns 4,767 shares of the business services provider’s stock valued at $276,000 after buying an additional 544 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Envestnet by 2.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider’s stock valued at $1,577,000 after buying an additional 600 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of Envestnet by 2.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 28,271 shares of the business services provider’s stock worth $1,637,000 after acquiring an additional 619 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ENV shares. StockNews.com started coverage on shares of Envestnet in a research note on Wednesday. They issued a “sell” rating on the stock. UBS Group reissued a “neutral” rating and set a $63.15 price target (down previously from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. DA Davidson reaffirmed a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a research note on Wednesday, September 18th. Raymond James downgraded Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, William Blair reissued a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.88.

Envestnet Price Performance

ENV stock opened at $62.47 on Wednesday. The company has a market capitalization of $3.44 billion, a P/E ratio of -17.55 and a beta of 1.25. The company has a fifty day moving average price of $62.40 and a 200-day moving average price of $61.97. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14. Envestnet, Inc. has a 52-week low of $33.12 and a 52-week high of $73.04.

Envestnet (NYSE:ENV) last announced its earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.07). The company had revenue of $348.30 million for the quarter, compared to the consensus estimate of $342.90 million. Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share. As a group, equities analysts expect that Envestnet, Inc. will post 1.71 EPS for the current year.

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.