Mutual of America Capital Management LLC Acquires 32,761 Shares of Envestnet, Inc. (NYSE:ENV)

Mutual of America Capital Management LLC boosted its holdings in Envestnet, Inc. (NYSE:ENV) by 382.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,330 shares of the business services provider’s stock after purchasing an additional 32,761 shares during the period. Mutual of America Capital Management LLC owned about 0.07% of Envestnet worth $2,587,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Envestnet by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock worth $65,057,000 after buying an additional 73,751 shares during the last quarter. Federated Hermes Inc. raised its holdings in Envestnet by 80.0% during the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after acquiring an additional 1,200 shares in the last quarter. NINE MASTS CAPITAL Ltd acquired a new position in Envestnet during the second quarter valued at approximately $1,377,000. State of New Jersey Common Pension Fund D bought a new position in Envestnet in the second quarter valued at approximately $1,713,000. Finally, ClariVest Asset Management LLC acquired a new position in shares of Envestnet during the 2nd quarter worth approximately $2,482,000.

Envestnet Stock Down 0.2 %

Shares of ENV opened at $62.47 on Wednesday. The firm has a market cap of $3.44 billion, a P/E ratio of -17.55 and a beta of 1.25. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14. Envestnet, Inc. has a 52 week low of $33.12 and a 52 week high of $73.04. The firm’s 50-day simple moving average is $62.40 and its 200 day simple moving average is $61.97.

Envestnet (NYSE:ENV) last posted its 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). The firm had revenue of $348.30 million during 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%. Envestnet’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. On average, analysts forecast that Envestnet, Inc. will post 1.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Envestnet 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.