Rhumbline Advisers Reduces Holdings in Envestnet, Inc. (NYSE:ENV)

Rhumbline Advisers lessened its position in shares of Envestnet, Inc. (NYSE:ENV) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,336 shares of the business services provider’s stock after selling 425 shares during the period. Rhumbline Advisers owned 0.27% of Envestnet worth $9,222,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Envestnet during the 4th quarter valued at $25,319,000. Price T Rowe Associates Inc. MD raised its stake in shares of Envestnet by 45.0% during 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 purchasing an additional 48,057 shares during the period. Schroder Investment Management Group bought a new stake in shares of Envestnet during the 4th quarter valued at $21,829,000. UniSuper Management Pty Ltd bought a new stake in shares of Envestnet during the 1st quarter valued at $762,000. Finally, One Fin Capital Management LP bought a new stake in shares of Envestnet during the 4th quarter valued at $14,336,000.

Envestnet Price Performance

Shares of Envestnet stock opened at $62.72 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $3.46 billion, a PE ratio of -17.62 and a beta of 1.25. The business’s 50-day moving average price is $62.33 and its 200-day moving average price is $61.22. Envestnet, Inc. has a 12 month low of $33.12 and a 12 month high of $73.04.

Envestnet (NYSE:ENV) last announced its quarterly earnings data on Friday, August 9th. The business services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.07). The firm had revenue of $348.30 million for the quarter, compared to the consensus estimate of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. Envestnet’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 earnings per share. Sell-side analysts forecast that Envestnet, Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ENV. William Blair reiterated a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. UBS Group reiterated a “neutral” rating and set a $63.15 price objective (down from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. StockNews.com assumed coverage on Envestnet in a research note on Monday. They issued a “sell” rating on the stock. DA Davidson lowered Envestnet from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $78.00 to $63.00 in a research note on Thursday, July 18th. Finally, Raymond James lowered Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.88.

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.