Envestnet, Inc. (NYSE:ENV) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in shares of Envestnet, Inc. (NYSE:ENV) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,322 shares of the business services provider’s stock after selling 533 shares during the quarter. Amalgamated Bank’s holdings in Envestnet were worth $959,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arizona State Retirement System grew its holdings in Envestnet by 2.5% in the second quarter. Arizona State Retirement System now owns 11,552 shares of the business services provider’s stock valued at $723,000 after purchasing an additional 286 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Envestnet by 2.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider’s stock valued at $1,633,000 after purchasing an additional 543 shares during the last quarter. Natixis grew its stake in shares of Envestnet by 12.9% during the 1st quarter. Natixis now owns 4,767 shares of the business services provider’s stock valued at $276,000 after buying an additional 544 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Envestnet by 2.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider’s stock worth $1,577,000 after buying an additional 600 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in shares of Envestnet by 2.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 28,271 shares of the business services provider’s stock worth $1,637,000 after buying an additional 619 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ENV shares. Raymond James downgraded Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. StockNews.com began coverage on shares of Envestnet in a research report on Wednesday. They set a “sell” rating for the company. 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. William Blair reissued a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $63.00 price target on shares of Envestnet in a research report on Wednesday, September 18th. One 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.88.

Envestnet Trading Up 0.1 %

NYSE ENV opened at $62.61 on Friday. The stock has a market cap of $3.45 billion, a P/E ratio of -17.59 and a beta of 1.25. The company’s fifty day simple moving average is $62.46 and its 200-day simple moving average is $62.03. 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, Inc. has a 52 week low of $33.12 and a 52 week high of $73.04.

Envestnet (NYSE:ENV) last released 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). The firm had revenue of $348.30 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm earned $0.22 EPS. Equities research analysts predict that Envestnet, Inc. will post 1.71 EPS 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.