Victory Capital Management Inc. Sells 272 Shares of Envestnet, Inc. (NYSE:ENV)

Victory Capital Management Inc. reduced its position in shares of Envestnet, Inc. (NYSE:ENV) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,694 shares of the business services provider’s stock after selling 272 shares during the period. Victory Capital Management Inc.’s holdings in Envestnet were worth $669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ENV. YHB Investment Advisors Inc. bought a new stake in shares of Envestnet in the first quarter valued at about $38,000. Innealta Capital LLC bought a new stake in Envestnet in the 2nd quarter valued at about $46,000. Quest Partners LLC acquired a new position in shares of Envestnet during the 4th quarter worth approximately $58,000. SG Americas Securities LLC bought a new position in shares of Envestnet during the first quarter worth approximately $168,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Envestnet in the second quarter valued at approximately $191,000.

Wall Street Analysts Forecast Growth

ENV has been the topic of a number of recent research reports. Raymond James lowered Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. UBS Group restated a “neutral” rating and issued a $63.15 price target (down previously from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. StockNews.com began coverage on shares of Envestnet in a research report on Tuesday, September 17th. They set a “sell” rating for the company. William Blair reissued a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. Finally, DA Davidson restated a “neutral” rating and issued a $63.00 target price on shares of Envestnet in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Envestnet currently has an average rating of “Hold” and a consensus target price of $61.88.

Envestnet Trading Up 0.1 %

Shares of Envestnet stock opened at $62.74 on Friday. The firm’s 50 day moving average is $62.37 and its 200 day moving average is $61.77. The firm has a market capitalization of $3.46 billion, a PE ratio of -17.62 and a beta of 1.25. Envestnet, Inc. has a 1 year low of $33.12 and a 1 year high of $73.04. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70.

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

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.