Benjamin Edwards Inc. Raises Stock Position in Envestnet, Inc. (NYSE:ENV)

Benjamin Edwards Inc. lifted its stake in Envestnet, Inc. (NYSE:ENV) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,781 shares of the business services provider’s stock after buying an additional 658 shares during the period. Benjamin Edwards Inc.’s holdings in Envestnet were worth $487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENV. YHB Investment Advisors Inc. purchased a new position in shares of Envestnet during the first quarter worth approximately $38,000. Innealta Capital LLC acquired a new stake in Envestnet during the 2nd quarter worth $46,000. Quest Partners LLC purchased a new position in Envestnet during the 4th quarter worth $58,000. SG Americas Securities LLC acquired a new position in Envestnet in the first quarter valued at $168,000. Finally, Federated Hermes Inc. raised its holdings in shares of Envestnet by 80.0% in the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after buying an additional 1,200 shares during the last quarter.

Envestnet Stock Performance

Shares of ENV opened at $62.69 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70. Envestnet, Inc. has a 52-week low of $33.12 and a 52-week high of $73.04. The company has a 50-day simple moving average of $62.37 and a 200-day simple moving average of $61.70. The company has a market capitalization of $3.45 billion, a PE ratio of -17.61 and a beta of 1.25.

Envestnet (NYSE:ENV) last issued its earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). The company had revenue of $348.30 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the business posted $0.22 earnings per share. Equities research analysts predict that Envestnet, Inc. will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.