Select Equity Group L.P. Purchases 3,138 Shares of Envestnet, Inc. (NYSE:ENV)

Select Equity Group L.P. boosted its position in shares of Envestnet, Inc. (NYSE:ENV) by 25.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,458 shares of the business services provider’s stock after buying an additional 3,138 shares during the quarter. Select Equity Group L.P.’s holdings in Envestnet were worth $968,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ENV. Norges Bank purchased a new position in shares of Envestnet in the fourth quarter valued at about $25,319,000. Corient Private Wealth LLC increased its holdings in Envestnet by 51.8% during the 4th quarter. Corient Private Wealth LLC now owns 13,099 shares of the business services provider’s stock valued at $649,000 after purchasing an additional 4,468 shares during the period. Quest Partners LLC bought a new position in Envestnet during the 4th quarter valued at approximately $58,000. Stephens Investment Management Group LLC raised its position in Envestnet by 14.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider’s stock valued at $81,762,000 after purchasing an additional 207,632 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new stake in Envestnet in the 4th quarter worth approximately $21,829,000.

Wall Street Analyst Weigh In

ENV has been the topic of several research analyst reports. UBS Group reissued a “neutral” rating and set a $63.15 target price (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 report on Thursday, July 11th. Raymond James cut shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. StockNews.com initiated coverage on shares of Envestnet in a research report on Wednesday. They set a “sell” rating on the stock. Finally, DA Davidson reissued a “neutral” rating and issued a $63.00 price target on shares of Envestnet in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.88.

Envestnet Stock Up 0.1 %

NYSE:ENV opened at $62.61 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14. The firm’s 50-day moving average price is $62.46 and its 200-day moving average price is $62.03. The company has a market capitalization of $3.45 billion, a PE ratio of -17.59 and a beta of 1.25. Envestnet, Inc. has a 1-year low of $33.12 and a 1-year high of $73.04.

Envestnet (NYSE:ENV) last announced 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). Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The business had revenue of $348.30 million during the quarter, compared to analysts’ expectations of $342.90 million. During the same quarter last year, the company posted $0.22 EPS. Envestnet’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts predict that Envestnet, Inc. will post 1.71 EPS for the current fiscal year.

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.