Teachers Retirement System of The State of Kentucky reduced its position in shares of Envestnet, Inc (NYSE:ENV) by 32.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,153 shares of the business services provider’s stock after selling 11,200 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Envestnet were worth $748,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its stake in shares of Envestnet by 116.6% in the first quarter. Parametric Portfolio Associates LLC now owns 77,580 shares of the business services provider’s stock worth $2,506,000 after buying an additional 41,761 shares during the period. CI Investments Inc. acquired a new stake in shares of Envestnet during the first quarter worth about $194,000. Van Berkom & Associates Inc. raised its stake in shares of Envestnet by 24.9% in the first quarter. Van Berkom & Associates Inc. now owns 1,519,842 shares of the business services provider’s stock worth $49,091,000 after buying an additional 303,286 shares during the period. Henderson Group PLC raised its stake in shares of Envestnet by 20.2% in the first quarter. Henderson Group PLC now owns 609,126 shares of the business services provider’s stock worth $19,675,000 after buying an additional 102,216 shares during the period. Finally, Capital Fund Management S.A. acquired a new stake in shares of Envestnet during the first quarter worth about $1,253,000. 98.98% of the stock is currently owned by institutional investors.
Shares of Envestnet, Inc (ENV) opened at 39.80 on Tuesday. The stock’s market capitalization is $1.74 billion. Envestnet, Inc has a 1-year low of $30.80 and a 1-year high of $41.47. The company’s 50 day moving average is $38.39 and its 200-day moving average is $36.44.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Wednesday, May 10th. The business services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $157.80 million for the quarter, compared to analyst estimates of $155.56 million. Envestnet had a positive return on equity of 5.86% and a negative net margin of 9.55%. Envestnet’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. Equities analysts anticipate that Envestnet, Inc will post $1.25 earnings per share for the current fiscal year.
A number of analysts have issued reports on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $48.00 price target on shares of Envestnet in a research note on Friday, July 14th. Royal Bank Of Canada reiterated a “hold” rating and set a $40.00 price target on shares of Envestnet in a research note on Thursday, May 11th. Zacks Investment Research upgraded shares of Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Tuesday, July 11th. BidaskClub upgraded shares of Envestnet from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, William Blair reiterated a “buy” rating on shares of Envestnet in a research note on Wednesday, June 28th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Envestnet has a consensus rating of “Buy” and an average price target of $43.60.
In related news, Director Gayle A. Crowell sold 746 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $39.80, for a total transaction of $29,690.80. Following the transaction, the director now directly owns 801 shares of the company’s stock, valued at approximately $31,879.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles Roame purchased 1,473 shares of Envestnet stock in a transaction that occurred on Wednesday, May 31st. The shares were bought at an average cost of $35.38 per share, for a total transaction of $52,114.74. Following the completion of the transaction, the director now directly owns 1,729 shares in the company, valued at approximately $61,172.02. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 3,968 shares of company stock worth $145,287 and have sold 23,246 shares worth $911,841. Insiders own 5.58% of the company’s stock.
About Envestnet
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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