Public Sector Pension Investment Board Grows Position in Envestnet, Inc. (NYSE:ENV)

Public Sector Pension Investment Board grew its stake in Envestnet, Inc. (NYSE:ENV) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,347 shares of the business services provider’s stock after buying an additional 8,394 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.20% of Envestnet worth $6,907,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Envestnet by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 971,916 shares of the business services provider’s stock worth $48,130,000 after purchasing an additional 6,415 shares in the last quarter. Norges Bank bought a new position in Envestnet in the 4th quarter worth $25,319,000. Corient Private Wealth LLC increased its stake in Envestnet by 51.8% in the 4th quarter. Corient Private Wealth LLC now owns 13,099 shares of the business services provider’s stock worth $649,000 after buying an additional 4,468 shares in the last quarter. Quest Partners LLC bought a new stake in Envestnet during the fourth quarter valued at about $58,000. Finally, Hsbc Holdings PLC lifted its position in shares of Envestnet by 20,229.7% in the fourth quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock valued at $90,027,000 after acquiring an additional 1,816,020 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. William Blair reiterated a “market perform” rating on shares of Envestnet in a research 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, September 18th. StockNews.com initiated coverage on shares of Envestnet in a research report on Wednesday. They set a “sell” rating on the stock. 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 reiterated a “neutral” rating and issued a $63.15 price target (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.88.

Envestnet Stock Down 0.2 %

Shares of NYSE:ENV opened at $62.47 on Wednesday. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -17.55 and a beta of 1.25. Envestnet, Inc. has a 12 month low of $33.12 and a 12 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 company has a 50-day moving average price of $62.40 and a 200 day moving average price of $61.97.

Envestnet (NYSE:ENV) last announced its earnings results on Friday, August 9th. The business services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The company had revenue of $348.30 million during the quarter, compared to analysts’ expectations of $342.90 million. During the same quarter last year, the firm posted $0.22 EPS. Envestnet’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities research analysts predict that Envestnet, Inc. will post 1.71 earnings per share for the current 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.