Scout Investments Inc. boosted its stake in Envestnet, Inc (NYSE:ENV) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,275 shares of the business services provider’s stock after buying an additional 3,350 shares during the period. Scout Investments Inc. owned approximately 0.20% of Envestnet worth $3,416,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. OppenheimerFunds Inc. purchased a new stake in Envestnet during the first quarter valued at about $9,435,000. TimesSquare Capital Management LLC raised its stake in Envestnet by 14.1% in the first quarter. TimesSquare Capital Management LLC now owns 2,235,015 shares of the business services provider’s stock valued at $72,191,000 after buying an additional 275,955 shares during the last quarter. Summit Creek Advisors LLC raised its stake in Envestnet by 82.5% in the second quarter. Summit Creek Advisors LLC now owns 341,273 shares of the business services provider’s stock valued at $13,514,000 after buying an additional 154,324 shares during the last quarter. Tygh Capital Management Inc. purchased a new stake in Envestnet during the second quarter valued at about $5,952,000. Finally, Vanguard Group Inc. raised its stake in Envestnet by 4.8% in the first quarter. Vanguard Group Inc. now owns 3,265,731 shares of the business services provider’s stock valued at $105,483,000 after buying an additional 150,179 shares during the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.
Envestnet, Inc (NYSE:ENV) opened at 44.20 on Friday. Envestnet, Inc has a 52-week low of $30.80 and a 52-week high of $45.18. The company’s 50-day moving average is $41.25 and its 200 day moving average is $37.39. The company’s market cap is $1.95 billion.
Envestnet (NYSE:ENV) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.01. Envestnet had a positive return on equity of 7.78% and a negative net margin of 8.93%. The business had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $164.04 million. During the same period last year, the firm posted $0.21 EPS. Envestnet’s quarterly revenue was up 18.0% compared to the same quarter last year. Equities analysts forecast that Envestnet, Inc will post $1.29 earnings per share for the current fiscal year.
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ENV has been the subject of several recent analyst reports. DA Davidson initiated coverage on shares of Envestnet in a research note on Thursday, July 6th. They issued a “neutral” rating and a $42.00 target price for the company. Zacks Investment Research upgraded shares of Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Tuesday, July 11th. Royal Bank Of Canada reiterated a “hold” rating and issued a $40.00 target price on shares of Envestnet in a research note on Thursday, May 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 target price on shares of Envestnet in a research note on Friday, July 14th. Finally, BidaskClub upgraded shares of Envestnet from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Envestnet currently has an average rating of “Buy” and a consensus target price of $45.50.
In other Envestnet news, CFO Peter D’arrigo sold 7,500 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $39.20, for a total value of $294,000.00. Following the completion of the transaction, the chief financial officer now owns 19,976 shares of the company’s stock, valued at approximately $783,059.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Grinis sold 15,000 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $39.21, for a total value of $588,150.00. Following the completion of the transaction, the insider now directly owns 226,454 shares of the company’s stock, valued at approximately $8,879,261.34. The disclosure for this sale can be found here. In the last three months, insiders sold 34,972 shares of company stock valued at $1,387,124. 7.80% of the stock is owned by insiders.
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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