Lombard Odier Asset Management Europe Ltd Lowers Stake in Envestnet, Inc. (NYSE:ENV)

Lombard Odier Asset Management Europe Ltd decreased its position in shares of Envestnet, Inc. (NYSE:ENV) by 22.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 35,000 shares of the business services provider’s stock after selling 10,000 shares during the period. Lombard Odier Asset Management Europe Ltd owned 0.06% of Envestnet worth $2,191,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new position in Envestnet in the 1st quarter valued at $38,000. Innealta Capital LLC acquired a new position in Envestnet in the second quarter valued at $46,000. Quest Partners LLC purchased a new position in Envestnet during the fourth quarter worth about $58,000. Federated Hermes Inc. boosted its stake in Envestnet by 80.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after buying an additional 1,200 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Envestnet in the 1st quarter valued at about $168,000.

Envestnet Trading Down 0.2 %

Envestnet stock opened at $62.61 on Tuesday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14. Envestnet, Inc. has a 1 year low of $33.12 and a 1 year high of $73.04. The firm’s 50-day moving average is $62.38 and its 200-day moving average is $61.91. The company has a market cap of $3.45 billion, a P/E ratio of -17.59 and a beta of 1.25.

Envestnet (NYSE:ENV) last issued its earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). The business had revenue of $348.30 million during the quarter, compared to the consensus estimate of $342.90 million. Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 EPS. On average, equities analysts expect that Envestnet, Inc. will post 1.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Raymond James cut shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. DA Davidson reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Envestnet in a research report on Wednesday, September 18th. William Blair reiterated a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. StockNews.com assumed coverage on shares of Envestnet in a report on Tuesday, September 17th. They issued a “sell” rating on the stock. Finally, UBS Group reissued a “neutral” rating and set a $63.15 price objective (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.