Envestnet, Inc. (NYSE:ENV) Shares Bought by Arizona State Retirement System

Arizona State Retirement System lifted its position in shares of Envestnet, Inc. (NYSE:ENV) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,552 shares of the business services provider’s stock after purchasing an additional 286 shares during the period. Arizona State Retirement System’s holdings in Envestnet were worth $723,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. YHB Investment Advisors Inc. acquired a new position in Envestnet in the 1st quarter worth $38,000. Innealta Capital LLC acquired a new position in shares of Envestnet in the second quarter worth about $46,000. Quest Partners LLC acquired a new position in shares of Envestnet in the fourth quarter worth about $58,000. SG Americas Securities LLC purchased a new position in Envestnet in the first quarter valued at about $168,000. Finally, Summit Securities Group LLC acquired a new stake in Envestnet during the 2nd quarter valued at approximately $191,000.

Envestnet Stock Down 0.2 %

Shares of Envestnet stock opened at $62.62 on Monday. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -17.59 and a beta of 1.25. Envestnet, Inc. has a twelve month low of $33.12 and a twelve month high of $73.04. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70. The business’s 50 day simple moving average is $62.31 and its 200-day simple moving average is $61.38.

Envestnet (NYSE:ENV) last issued its earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share 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 analyst estimates of $342.90 million. Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. Envestnet’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share. Equities research analysts forecast that Envestnet, Inc. will post 1.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ENV shares. UBS Group reiterated 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. StockNews.com began coverage on shares of Envestnet in a research report on Monday, September 9th. They issued a “sell” rating for the company. William Blair reaffirmed a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. Raymond James downgraded Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, DA Davidson downgraded Envestnet from a “buy” rating to a “neutral” rating and lowered their price target for the company from $78.00 to $63.00 in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Envestnet currently has a consensus rating of “Hold” and a consensus price target of $61.88.

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.