Quadrature Capital Ltd Invests $236,000 in Envestnet, Inc. (NYSE:ENV)

Quadrature Capital Ltd bought a new position in shares of Envestnet, Inc. (NYSE:ENV) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,766 shares of the business services provider’s stock, valued at approximately $236,000.

A number of other large investors have also modified their holdings of ENV. UBS Group AG grew its holdings in shares of Envestnet by 234.5% during the third quarter. UBS Group AG now owns 59,039 shares of the business services provider’s stock worth $2,599,000 after buying an additional 41,388 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Envestnet by 19.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 802 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Envestnet by 113.1% in the third quarter. Envestnet Asset Management Inc. now owns 163,161 shares of the business services provider’s stock valued at $7,184,000 after purchasing an additional 86,585 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of Envestnet in the third quarter valued at about $5,604,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Envestnet by 75.3% in the third quarter. Tower Research Capital LLC TRC now owns 6,788 shares of the business services provider’s stock valued at $299,000 after purchasing an additional 2,915 shares during the period.

Analyst Ratings Changes

A number of brokerages recently issued reports on ENV. DA Davidson upped their price objective on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Jefferies Financial Group raised shares of Envestnet from an “underperform” rating to a “hold” rating and upped their price objective for the company from $47.00 to $59.00 in a report on Wednesday, May 8th. Raymond James upped 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. Royal Bank of Canada upped their target price on shares of Envestnet from $56.00 to $64.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $79.00 target price on shares of Envestnet in a research report on Wednesday, April 17th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.14.

Envestnet Stock Down 0.6 %

Shares of ENV opened at $62.54 on Thursday. The stock has a market capitalization of $3.45 billion, a PE ratio of -17.57 and a beta of 1.28. Envestnet, Inc. has a 1 year low of $33.12 and a 1 year high of $73.04. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.19 and a current ratio of 1.19. The company’s 50-day simple moving average is $64.20 and its 200-day simple moving average is $56.53.

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 the consensus estimate of $0.33 by $0.01. The business had revenue of $324.95 million for the quarter, compared to analysts’ expectations of $324.85 million. Envestnet had a negative net margin of 15.33% and a positive return on equity of 14.75%. Analysts forecast that Envestnet, Inc. will post 1.78 earnings per share for the current fiscal year.

About Envestnet

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.