Stephens Investment Management Group LLC Grows Stock Position in Envestnet Inc (NYSE:ENV)

Stephens Investment Management Group LLC lifted its stake in Envestnet Inc (NYSE:ENV) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 915,377 shares of the business services provider’s stock after purchasing an additional 3,676 shares during the period. Envestnet comprises about 1.2% of Stephens Investment Management Group LLC’s holdings, making the stock its 18th largest holding. Stephens Investment Management Group LLC owned about 1.88% of Envestnet worth $62,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Wasatch Advisors Inc. increased its position in shares of Envestnet by 0.6% during the first quarter. Wasatch Advisors Inc. now owns 2,309,363 shares of the business services provider’s stock worth $151,009,000 after purchasing an additional 13,688 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Envestnet by 0.3% during the first quarter. Clearbridge Investments LLC now owns 912,274 shares of the business services provider’s stock worth $59,654,000 after purchasing an additional 3,142 shares in the last quarter. Champlain Investment Partners LLC increased its position in shares of Envestnet by 21.1% during the first quarter. Champlain Investment Partners LLC now owns 766,335 shares of the business services provider’s stock worth $50,111,000 after purchasing an additional 133,585 shares in the last quarter. Fiera Capital Corp increased its position in shares of Envestnet by 20.2% during the first quarter. Fiera Capital Corp now owns 766,325 shares of the business services provider’s stock worth $50,110,000 after purchasing an additional 128,805 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Envestnet during the fourth quarter worth about $25,851,000. Institutional investors own 95.27% of the company’s stock.

In related news, CTO Scott D. Grinis sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $68.40, for a total transaction of $684,000.00. Following the transaction, the chief technology officer now owns 200,351 shares of the company’s stock, valued at $13,704,008.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William Crager sold 18,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $58.13, for a total value of $1,075,405.00. Following the transaction, the insider now directly owns 243,512 shares in the company, valued at approximately $14,155,352.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,564 shares of company stock worth $9,199,089. Corporate insiders own 4.97% of the company’s stock.

A number of analysts have recently commented on the company. SunTrust Banks assumed coverage on Envestnet in a research report on Thursday, April 18th. They set a “buy” rating and a $80.00 target price on the stock. TheStreet cut Envestnet from a “b” rating to a “c+” rating in a research report on Thursday, May 9th. ValuEngine cut Envestnet from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Raymond James lifted their target price on Envestnet from $82.00 to $83.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. cut Envestnet from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $71.00 to $73.00 in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Envestnet currently has an average rating of “Buy” and a consensus price target of $73.30.

Shares of NYSE ENV traded up $0.20 during midday trading on Thursday, reaching $55.62. 3,797 shares of the company were exchanged, compared to its average volume of 417,481. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.60. Envestnet Inc has a 1 year low of $46.57 and a 1 year high of $73.94. The company’s fifty day moving average is $68.63. The company has a market capitalization of $2.89 billion, a PE ratio of 44.26, a P/E/G ratio of 2.71 and a beta of 1.67.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.02). Envestnet had a positive return on equity of 10.18% and a negative net margin of 1.72%. The company had revenue of $227.90 million for the quarter, compared to analysts’ expectations of $225.34 million. During the same period in the prior year, the business earned $0.41 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts predict that Envestnet Inc will post 1.31 earnings per share for the current year.

About Envestnet

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 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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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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