Envestnet, Inc. (NYSE:ENV) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 80.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,700 shares of the business services provider’s stock after purchasing an additional 1,200 shares during the quarter. Federated Hermes Inc.’s holdings in Envestnet were worth $169,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Arizona State Retirement System increased its stake in shares of Envestnet by 2.5% during the second quarter. Arizona State Retirement System now owns 11,552 shares of the business services provider’s stock worth $723,000 after buying an additional 286 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Envestnet by 2.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider’s stock valued at $1,633,000 after purchasing an additional 543 shares during the last quarter. Natixis increased its stake in Envestnet by 12.9% in the first quarter. Natixis now owns 4,767 shares of the business services provider’s stock valued at $276,000 after purchasing an additional 544 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Envestnet by 2.4% in the second quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider’s stock valued at $1,577,000 after acquiring an additional 600 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Envestnet by 2.2% in the first quarter. Illinois Municipal Retirement Fund now owns 28,271 shares of the business services provider’s stock valued at $1,637,000 after acquiring an additional 619 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. DA Davidson reissued a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. William Blair reaffirmed a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. StockNews.com initiated coverage on Envestnet in a report on Wednesday. They set a “sell” rating for the company. UBS Group reaffirmed a “neutral” rating and set a $63.15 price target (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Finally, Raymond James downgraded Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Envestnet has an average rating of “Hold” and a consensus price target of $61.88.

Envestnet Price Performance

Envestnet stock opened at $62.47 on Wednesday. Envestnet, Inc. has a one year low of $33.12 and a one year high of $73.04. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14. The business has a fifty day moving average of $62.40 and a two-hundred day moving average of $61.97. The company has a market cap of $3.44 billion, a P/E ratio of -17.55 and a beta of 1.25.

Envestnet (NYSE:ENV) last released 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 negative net margin of 19.33% and a positive return on equity of 17.02%. The business had revenue of $348.30 million during the quarter, compared to analyst estimates of $342.90 million. During the same period last year, the business posted $0.22 EPS. Envestnet’s revenue was up 11.5% compared to the same quarter last year. As a group, analysts predict 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.