Short Interest in Envestnet, Inc. (NYSE:ENV) Decreases By 5.9%

Envestnet, Inc. (NYSE:ENV) was the recipient of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 3,960,000 shares, a decline of 5.9% from the May 15th total of 4,210,000 shares. Based on an average trading volume of 517,600 shares, the days-to-cover ratio is presently 7.7 days. Currently, 7.3% of the company’s shares are sold short.

Envestnet Stock Down 0.1 %

Shares of NYSE:ENV opened at $61.77 on Thursday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market capitalization of $3.40 billion, a PE ratio of -17.35 and a beta of 1.28. The firm’s 50-day moving average is $63.87 and its two-hundred day moving average is $55.77. Envestnet has a 1 year low of $33.12 and a 1 year high of $73.04.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Tuesday, May 7th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Envestnet had a negative net margin of 15.33% and a positive return on equity of 14.75%. The company had revenue of $324.95 million for the quarter, compared to analyst estimates of $324.85 million. Analysts predict that Envestnet will post 1.78 EPS for the current year.

Insider Activity

In other news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the transaction, the insider now owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Envestnet

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cetera Advisors LLC acquired a new position in shares of Envestnet during the first quarter worth about $222,000. Impactive Capital LP grew its position in shares of Envestnet by 0.8% during the first quarter. Impactive Capital LP now owns 4,183,865 shares of the business services provider’s stock worth $242,288,000 after buying an additional 32,832 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Envestnet by 45.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock worth $8,968,000 after buying an additional 48,057 shares in the last quarter. Natixis grew its position in shares of Envestnet by 12.9% during the first quarter. Natixis now owns 4,767 shares of the business services provider’s stock worth $276,000 after buying an additional 544 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Envestnet by 17.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 46,018 shares of the business services provider’s stock valued at $2,664,000 after purchasing an additional 6,997 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on ENV. JPMorgan Chase & Co. boosted their price objective on shares of Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. StockNews.com upgraded shares of Envestnet from a “sell” rating to a “hold” rating in a report on Friday, May 10th. JMP Securities restated a “market outperform” rating and issued a $79.00 price objective on shares of Envestnet in a report on Wednesday, April 17th. William Blair restated an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. Finally, Raymond James boosted their price objective on shares of Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $64.14.

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.