Carillon Tower Advisers Inc. decreased its holdings in shares of Envestnet Inc (NYSE:ENV) by 4.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,803 shares of the business services provider’s stock after selling 3,646 shares during the period. Carillon Tower Advisers Inc. owned 0.19% of Envestnet worth $5,352,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in ENV. BlackRock Inc. boosted its holdings in Envestnet by 16.7% in the second quarter. BlackRock Inc. now owns 3,150,212 shares of the business services provider’s stock worth $173,104,000 after purchasing an additional 451,887 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Envestnet by 6.9% in the second quarter. Renaissance Technologies LLC now owns 509,392 shares of the business services provider’s stock worth $27,991,000 after purchasing an additional 33,100 shares during the last quarter. Westwood Management Corp IL bought a new position in Envestnet in the third quarter worth approximately $628,000. Oak Ridge Investments LLC raised its position in Envestnet by 22.1% in the second quarter. Oak Ridge Investments LLC now owns 341,535 shares of the business services provider’s stock worth $18,767,000 after acquiring an additional 61,746 shares during the period. Finally, Hodges Capital Management Inc. bought a new position in Envestnet in the third quarter worth approximately $6,545,000. 97.79% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on ENV. UBS Group increased their price target on shares of Envestnet from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research downgraded shares of Envestnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday. JMP Securities decreased their price target on shares of Envestnet from $76.00 to $67.00 and set a “market outperform” rating on the stock in a research report on Tuesday, November 13th. DA Davidson upgraded shares of Envestnet from a “neutral” rating to a “buy” rating in a research report on Thursday, November 8th. Finally, TheStreet downgraded shares of Envestnet from a “b-” rating to a “c+” rating in a research report on Wednesday, October 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $64.33.
ENV opened at $54.64 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.72 and a current ratio of 0.72. Envestnet Inc has a 1-year low of $47.45 and a 1-year high of $64.80. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 47.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.87.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Wednesday, November 7th. The business services provider reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.03. Envestnet had a net margin of 2.95% and a return on equity of 11.32%. The business had revenue of $203.20 million for the quarter, compared to the consensus estimate of $203.99 million. During the same period last year, the firm earned $0.37 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. On average, equities analysts anticipate that Envestnet Inc will post 1.27 EPS for the current year.
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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