Envestnet, Inc. (NYSE:ENV) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in shares of Envestnet, Inc. (NYSE:ENV) by 39.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,742 shares of the business services provider’s stock after selling 1,156 shares during the period. SG Americas Securities LLC’s holdings in Envestnet were worth $109,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENV. Norges Bank purchased a new stake in shares of Envestnet during the fourth quarter worth about $25,319,000. Maryland State Retirement & Pension System purchased a new stake in Envestnet in the 4th quarter worth approximately $895,000. Price T Rowe Associates Inc. MD raised its holdings in Envestnet by 45.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock valued at $8,968,000 after acquiring an additional 48,057 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Envestnet during the 4th quarter worth $21,829,000. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Envestnet during the first quarter worth $762,000.

Envestnet Trading Down 0.3 %

Shares of ENV stock opened at $62.84 on Tuesday. Envestnet, Inc. has a fifty-two week low of $33.12 and a fifty-two week high of $73.04. The firm’s 50 day moving average price is $62.23 and its two-hundred day moving average price is $60.31. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -17.65 and a beta of 1.28. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.47.

Envestnet (NYSE:ENV) last posted its earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.07). Envestnet had a negative net margin of 15.33% and a positive return on equity of 14.75%. The business had revenue of $348.30 million for the quarter, compared to analyst estimates of $342.90 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. On average, analysts anticipate that Envestnet, Inc. will post 1.79 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on ENV shares. Royal Bank of Canada upped their target price on Envestnet from $56.00 to $64.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 8th. Jefferies Financial Group upgraded shares of Envestnet from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $47.00 to $59.00 in a report on Wednesday, May 8th. UBS Group reissued a “neutral” rating and issued a $63.15 target price (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, DA Davidson lowered shares of Envestnet from a “buy” rating to a “neutral” rating and decreased their price target for the company from $78.00 to $63.00 in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Envestnet presently has an average rating of “Hold” and an average target price of $61.88.

Envestnet 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.