Hsbc Holdings PLC Sells 194,624 Shares of Envestnet, Inc. (NYSE:ENV)

Hsbc Holdings PLC lowered its position in shares of Envestnet, Inc. (NYSE:ENV) by 12.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,405,768 shares of the business services provider’s stock after selling 194,624 shares during the quarter. Hsbc Holdings PLC owned approximately 2.55% of Envestnet worth $87,748,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ENV. Vanguard Group Inc. raised its stake 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 during the last quarter. Impactive Capital LP raised its position in Envestnet by 0.8% in the 1st quarter. Impactive Capital LP now owns 4,183,865 shares of the business services provider’s stock valued at $242,288,000 after purchasing an additional 32,832 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in Envestnet by 14.4% in 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 purchasing an additional 207,632 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Envestnet by 0.9% during the fourth quarter. Clearbridge Investments LLC now owns 1,203,280 shares of the business services provider’s stock worth $59,586,000 after purchasing an additional 10,360 shares during the last quarter. Finally, Geneva Capital Management LLC increased its stake in shares of Envestnet by 1.6% in the first quarter. Geneva Capital Management LLC now owns 1,070,976 shares of the business services provider’s stock valued at $62,020,000 after buying an additional 16,666 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. StockNews.com initiated coverage on shares of Envestnet in a report on Tuesday. They set a “sell” rating on the stock. UBS Group reiterated a “neutral” rating and set a $63.15 target price (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. William Blair reissued a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. DA Davidson reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a report on Wednesday. Finally, Raymond James cut Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One 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. According to data from MarketBeat.com, Envestnet has a consensus rating of “Hold” and an average target price of $61.88.

Envestnet Price Performance

Shares of ENV stock opened at $62.66 on Friday. The firm’s 50 day moving average price is $62.35 and its two-hundred day moving average price is $61.63. The stock has a market cap of $3.45 billion, a PE ratio of -17.60 and a beta of 1.25. Envestnet, Inc. has a 52-week low of $33.12 and a 52-week high of $73.04. 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 (NYSE:ENV) last posted 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 company 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 firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. As a group, analysts forecast that Envestnet, Inc. will post 1.71 EPS for the current 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.