Quest Partners LLC Purchases 1,493 Shares of Envestnet, Inc. (NYSE:ENV)

Quest Partners LLC increased its position in Envestnet, Inc. (NYSE:ENV) by 6,220.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,517 shares of the business services provider’s stock after acquiring an additional 1,493 shares during the quarter. Quest Partners LLC’s holdings in Envestnet were worth $95,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Envestnet in the fourth quarter worth $25,319,000. Price T Rowe Associates Inc. MD grew its position in Envestnet by 45.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock worth $8,968,000 after purchasing an additional 48,057 shares during the last quarter. Schroder Investment Management Group bought a new position in shares of Envestnet during the 4th quarter worth about $21,829,000. UniSuper Management Pty Ltd acquired a new position in shares of Envestnet during the first quarter valued at about $762,000. Finally, One Fin Capital Management LP acquired a new stake in Envestnet during the fourth quarter worth about $14,336,000.

Analyst Upgrades and Downgrades

ENV has been the subject of a number of research reports. StockNews.com assumed coverage on Envestnet in a research report on Tuesday. They issued a “sell” rating for the company. DA Davidson lowered shares of 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. William Blair restated a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, UBS Group reissued a “neutral” rating and issued a $63.15 price target (down previously from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.88.

Envestnet Stock Performance

NYSE ENV opened at $62.65 on Wednesday. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -17.60 and a beta of 1.25. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70. Envestnet, Inc. has a 1-year low of $33.12 and a 1-year high of $73.04. The company has a 50 day moving average of $62.31 and a 200-day moving average of $61.61.

Envestnet (NYSE:ENV) last released its quarterly earnings results 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 business had revenue of $348.30 million for the quarter, compared to analyst estimates of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The company’s revenue for the quarter 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. On average, equities analysts forecast that Envestnet, Inc. will post 1.71 earnings per share for the current fiscal year.

Envestnet Company 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.