Squarepoint Ops LLC Makes New $649,000 Investment in Envestnet, Inc. (NYSE:ENV)

Squarepoint Ops LLC acquired a new stake in Envestnet, Inc. (NYSE:ENV) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,376 shares of the business services provider’s stock, valued at approximately $649,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ENV. Public Sector Pension Investment Board increased its holdings in Envestnet by 8.2% in the second quarter. Public Sector Pension Investment Board now owns 110,347 shares of the business services provider’s stock valued at $6,907,000 after buying an additional 8,394 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Envestnet by 9.2% in the 2nd quarter. Benjamin Edwards Inc. now owns 7,781 shares of the business services provider’s stock valued at $487,000 after acquiring an additional 658 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Envestnet in the 2nd quarter valued at about $331,000. Mutual of America Capital Management LLC raised its position in shares of Envestnet by 382.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 41,330 shares of the business services provider’s stock worth $2,587,000 after acquiring an additional 32,761 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Envestnet by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock worth $65,057,000 after purchasing an additional 73,751 shares during the last quarter.

Envestnet Stock Down 0.0 %

ENV opened at $62.60 on Wednesday. Envestnet, Inc. has a 52 week low of $33.12 and a 52 week high of $73.04. The business has a 50 day moving average price of $62.56 and a two-hundred day moving average price of $62.49. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70. The company has a market cap of $3.45 billion, a PE ratio of -17.58 and a beta of 1.25.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Friday, August 9th. The business services provider reported $0.55 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $342.90 million. During the same quarter last year, the company earned $0.22 EPS. Envestnet’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, research analysts anticipate that Envestnet, Inc. will post 1.71 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. DA Davidson reissued a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. StockNews.com assumed coverage on shares of Envestnet in a research note on Thursday, October 3rd. They set a “sell” rating on the stock. Raymond James lowered Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. William Blair reissued 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 target price (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $61.88.

About Envestnet

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.