Healthcare of Ontario Pension Plan Trust Fund Cuts Stock Position in Envestnet, Inc. (NYSE:ENV)

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in Envestnet, Inc. (NYSE:ENV) by 11.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 155,000 shares of the business services provider’s stock after selling 20,200 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.28% of Envestnet worth $9,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Envestnet by 45.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock worth $8,968,000 after acquiring an additional 48,057 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Envestnet during the fourth quarter worth about $21,829,000. UniSuper Management Pty Ltd acquired a new stake in shares of Envestnet during the first quarter worth about $762,000. One Fin Capital Management LP acquired a new stake in shares of Envestnet during the fourth quarter worth about $14,336,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Envestnet by 12.9% during the fourth quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock worth $297,885,000 after purchasing an additional 687,202 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ENV. DA Davidson reaffirmed a “neutral” rating and set a $63.00 target price on shares of Envestnet in a report on Wednesday, September 18th. Raymond James downgraded Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. William Blair reissued a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. StockNews.com started coverage on Envestnet in a report on Thursday. They issued a “sell” rating for the company. Finally, UBS Group reissued a “neutral” rating and issued a $63.15 price target (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. One investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.88.

Envestnet Stock Down 0.0 %

Shares of ENV opened at $62.60 on Friday. 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 one year low of $33.12 and a one year high of $73.04. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -17.58 and a beta of 1.25. The stock has a 50 day moving average price of $62.53 and a 200 day moving average price of $62.32.

Envestnet (NYSE:ENV) last released 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 company had revenue of $348.30 million for the quarter, compared to analyst estimates 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 posted $0.22 EPS. Equities research analysts forecast that Envestnet, Inc. will post 1.71 earnings per share for the current fiscal year.

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.