Envestnet, Inc. (NYSE:ENV) Position Increased by Engaged Capital LLC

Engaged Capital LLC grew its position in Envestnet, Inc. (NYSE:ENV) by 479.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 692,483 shares of the business services provider’s stock after acquiring an additional 573,049 shares during the period. Envestnet comprises 7.4% of Engaged Capital LLC’s portfolio, making the stock its 6th largest holding. Engaged Capital LLC owned 1.26% of Envestnet worth $43,343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Envestnet by 1.4% in the first quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider’s stock valued at $353,166,000 after acquiring an additional 83,081 shares in the last quarter. Impactive Capital LP boosted its holdings in Envestnet by 0.8% during the first quarter. Impactive Capital LP now owns 4,183,865 shares of the business services provider’s stock worth $242,288,000 after buying an additional 32,832 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in Envestnet by 14.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider’s stock worth $81,762,000 after buying an additional 207,632 shares in the last quarter. Geneva Capital Management LLC boosted its holdings in Envestnet by 1.6% during the first quarter. Geneva Capital Management LLC now owns 1,070,976 shares of the business services provider’s stock worth $62,020,000 after buying an additional 16,666 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Envestnet by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock worth $65,057,000 after buying an additional 73,751 shares in the last quarter.

Envestnet Stock Performance

Shares of ENV opened at $62.49 on Thursday. 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 stock has a market cap of $3.44 billion, a P/E ratio of -17.55 and a beta of 1.25. The company has a 50-day moving average of $62.42 and a two-hundred day moving average of $61.98. Envestnet, Inc. has a 12-month low of $33.12 and a 12-month high of $73.04.

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

Analysts Set New Price Targets

A number of research firms recently commented on ENV. UBS Group reissued a “neutral” rating and set a $63.15 price objective (down previously from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. DA Davidson reissued a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. William Blair reissued a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. StockNews.com started coverage on shares of Envestnet in a report on Wednesday. They set a “sell” rating on the stock. Finally, Raymond James cut shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $61.88.

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.