First Trust Advisors LP Purchases 6,993 Shares of Envestnet Inc (ENV)

First Trust Advisors LP boosted its position in Envestnet Inc (NYSE:ENV) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,889 shares of the business services provider’s stock after purchasing an additional 6,993 shares during the quarter. First Trust Advisors LP owned about 0.14% of Envestnet worth $2,985,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Envestnet by 133.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock valued at $139,000 after buying an additional 1,591 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in Envestnet in the 4th quarter valued at $175,000. Zions Bancorporation purchased a new stake in Envestnet in the 3rd quarter valued at $181,000. First Republic Investment Management Inc. purchased a new stake in Envestnet in the 3rd quarter valued at $204,000. Finally, Turner Investments LLC purchased a new stake in Envestnet in the 3rd quarter valued at $230,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

In other news, COO Joshua Mayer sold 30,800 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $52.06, for a total transaction of $1,603,448.00. Following the completion of the transaction, the chief operating officer now directly owns 51,207 shares in the company, valued at approximately $2,665,836.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anil Arora sold 557 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $57.40, for a total value of $31,971.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,896 shares of company stock valued at $4,365,785. Company insiders own 7.80% of the company’s stock.

Several analysts have issued reports on the company. Zacks Investment Research cut Envestnet from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. UBS Group dropped their target price on Envestnet from $63.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 17th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Envestnet presently has a consensus rating of “Buy” and a consensus target price of $55.00.

Envestnet Inc (NYSE ENV) opened at $59.00 on Thursday. The firm has a market capitalization of $2,591.80, a price-to-earnings ratio of 66.61, a PEG ratio of 2.91 and a beta of 1.86. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. Envestnet Inc has a twelve month low of $30.80 and a twelve month high of $59.70.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $182.86 million during the quarter, compared to analysts’ expectations of $179.20 million. Envestnet had a positive return on equity of 9.93% and a negative net margin of 0.48%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. research analysts predict that Envestnet Inc will post 1.33 earnings per share for the current 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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