Scout Investments Inc. reduced its position in Envestnet Inc (NYSE:ENV) by 3.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 92,976 shares of the business services provider’s stock after selling 3,622 shares during the period. Scout Investments Inc. owned 0.20% of Envestnet worth $5,667,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Wasatch Advisors Inc. increased its position in shares of Envestnet by 38.6% during the second quarter. Wasatch Advisors Inc. now owns 2,489,378 shares of the business services provider’s stock valued at $136,791,000 after buying an additional 692,878 shares during the period. BlackRock Inc. increased its position in shares of Envestnet by 16.7% during the second quarter. BlackRock Inc. now owns 3,150,212 shares of the business services provider’s stock valued at $173,104,000 after buying an additional 451,887 shares during the period. Wells Fargo & Company MN increased its position in shares of Envestnet by 5.8% during the second quarter. Wells Fargo & Company MN now owns 3,651,578 shares of the business services provider’s stock valued at $200,655,000 after buying an additional 198,782 shares during the period. Voya Investment Management LLC increased its position in shares of Envestnet by 26.8% during the second quarter. Voya Investment Management LLC now owns 780,575 shares of the business services provider’s stock valued at $42,894,000 after buying an additional 164,976 shares during the period. Finally, Fiera Capital Corp increased its position in shares of Envestnet by 49.2% during the second quarter. Fiera Capital Corp now owns 461,346 shares of the business services provider’s stock valued at $25,351,000 after buying an additional 152,181 shares during the period. Institutional investors and hedge funds own 96.28% of the company’s stock.
In other news, insider Anil Arora sold 9,900 shares of the business’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $59.80, for a total transaction of $592,020.00. Following the completion of the transaction, the insider now owns 86,563 shares of the company’s stock, valued at $5,176,467.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Judson Bergman sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $59.04, for a total value of $1,476,000.00. Following the transaction, the chief executive officer now directly owns 730,673 shares of the company’s stock, valued at approximately $43,138,933.92. The disclosure for this sale can be found here. Insiders have sold 68,196 shares of company stock valued at $4,108,654 in the last three months. 7.80% of the stock is owned by insiders.
Envestnet (NYSE:ENV) last issued its quarterly earnings data on Tuesday, August 7th. The business services provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.04. Envestnet had a return on equity of 10.75% and a net margin of 2.50%. The company had revenue of $201.12 million during the quarter, compared to analyst estimates of $199.52 million. Sell-side analysts anticipate that Envestnet Inc will post 1.25 EPS for the current year.
Several brokerages have recently weighed in on ENV. TheStreet cut Envestnet from a “b-” rating to a “c+” rating in a research report on Wednesday, October 10th. DA Davidson upped their price target on Envestnet to $56.00 and gave the company an “average” rating in a research report on Thursday, July 5th. UBS Group upped their price target on Envestnet from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research upgraded Envestnet from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Thursday, October 4th. Finally, JPMorgan Chase & Co. began coverage on Envestnet in a research report on Thursday, July 12th. They set an “overweight” rating and a $70.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Envestnet has a consensus rating of “Buy” and a consensus price target of $63.50.
Envestnet Company Profile
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells 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; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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