Algert Global LLC Invests $260,000 in Envestnet, Inc. (NYSE:ENV)

Algert Global LLC purchased a new stake in Envestnet, Inc. (NYSE:ENV) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,154 shares of the business services provider’s stock, valued at approximately $260,000.

Other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Envestnet in the second quarter worth about $46,000. Quest Partners LLC lifted its position in shares of Envestnet by 6,220.8% in the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 1,493 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Envestnet by 80.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after acquiring an additional 1,200 shares in the last quarter. SG Americas Securities LLC acquired a new position in Envestnet in the 1st quarter worth approximately $168,000. Finally, Summit Securities Group LLC purchased a new position in Envestnet during the 2nd quarter worth approximately $191,000.

Envestnet Stock Up 0.1 %

Shares of Envestnet stock opened at $62.64 on Thursday. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -17.60 and a beta of 1.25. The stock has a 50-day simple moving average of $62.57 and a 200-day simple moving average of $62.50. Envestnet, Inc. has a 52-week low of $33.12 and a 52-week high of $73.04. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14.

Envestnet (NYSE:ENV) last issued its quarterly earnings data on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.07). The business had revenue of $348.30 million for the quarter, compared to the consensus estimate 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 was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 EPS. On average, equities research analysts expect that Envestnet, Inc. will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group restated a “neutral” rating and issued a $63.15 target price (down previously from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. William Blair reissued a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. DA Davidson restated a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a research report on Wednesday, September 18th. Raymond James downgraded Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, StockNews.com began coverage on shares of Envestnet in a report on Thursday, October 3rd. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.