Envestnet Inc (NYSE:ENV) Position Raised by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its stake in shares of Envestnet Inc (NYSE:ENV) by 3.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 116,436 shares of the business services provider’s stock after purchasing an additional 3,650 shares during the period. King Luther Capital Management Corp owned approximately 0.26% of Envestnet worth $5,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. lifted its stake in Envestnet by 13.0% in the 2nd quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after buying an additional 379 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in Envestnet by 5.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock worth $150,000 after purchasing an additional 204 shares in the last quarter. Personal Capital Advisors Corp purchased a new position in Envestnet in the 3rd quarter worth approximately $203,000. BNP Paribas Arbitrage SA lifted its stake in Envestnet by 525.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock worth $204,000 after purchasing an additional 4,328 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in Envestnet in the 2nd quarter worth approximately $219,000. 94.90% of the stock is currently owned by institutional investors.

Several research firms recently weighed in on ENV. JMP Securities lifted their target price on shares of Envestnet from $48.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, September 26th. They noted that the move was a valuation call. Royal Bank of Canada restated a “hold” rating on shares of Envestnet in a research note on Monday, September 11th. Stifel Nicolaus restated a “buy” rating and issued a $52.00 price target on shares of Envestnet in a research note on Tuesday, September 26th. William Blair restated an “ourperform” rating on shares of Envestnet in a research note on Tuesday, September 26th. Finally, Zacks Investment Research raised shares of Envestnet from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Envestnet has an average rating of “Buy” and a consensus target price of $55.13.

In other news, COO Joshua Mayer sold 30,800 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $52.06, for a total value of $1,603,448.00. Following the completion of the sale, the chief operating officer now owns 51,207 shares of the company’s stock, valued at $2,665,836.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President William Crager sold 5,000 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $53.31, for a total transaction of $266,550.00. Following the completion of the sale, the president now directly owns 150,555 shares of the company’s stock, valued at approximately $8,026,087.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 284,585 shares of company stock worth $14,443,857. 7.80% of the stock is currently owned by insiders.

Shares of Envestnet Inc (NYSE:ENV) traded down $0.75 on Friday, reaching $49.85. 138,320 shares of the company’s stock traded hands, compared to its average volume of 227,862. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.63. Envestnet Inc has a one year low of $30.80 and a one year high of $55.15. The firm has a market capitalization of $2,241.87, a price-to-earnings ratio of -40.53, a P/E/G ratio of 3.78 and a beta of 1.91.

Envestnet (NYSE:ENV) last announced its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $175.61 million for the quarter, compared to the consensus estimate of $171.57 million. Envestnet had a negative net margin of 8.15% and a positive return on equity of 8.92%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. sell-side analysts predict that Envestnet Inc will post 0.89 EPS for the current fiscal year.

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About Envestnet

Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.

Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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