Victory Capital Management Inc. cut its holdings in Envestnet (NYSE:ENV) by 24.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 448,411 shares of the business services provider’s stock after selling 148,879 shares during the quarter. Victory Capital Management Inc. owned 1.00% of Envestnet worth $25,694,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Envestnet by 1.0% in the 4th quarter. BlackRock Inc. now owns 2,699,362 shares of the business services provider’s stock valued at $134,564,000 after acquiring an additional 27,689 shares in the last quarter. OppenheimerFunds Inc. lifted its position in Envestnet by 1.7% in the 4th quarter. OppenheimerFunds Inc. now owns 609,122 shares of the business services provider’s stock valued at $30,365,000 after acquiring an additional 10,476 shares in the last quarter. Atlanta Capital Management Co. L L C lifted its position in Envestnet by 20.3% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 537,122 shares of the business services provider’s stock valued at $26,776,000 after acquiring an additional 90,786 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in Envestnet by 21.8% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 482,907 shares of the business services provider’s stock valued at $24,073,000 after acquiring an additional 86,473 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Envestnet by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 361,712 shares of the business services provider’s stock valued at $18,031,000 after acquiring an additional 3,979 shares in the last quarter. 93.25% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on ENV shares. ValuEngine raised Envestnet from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research cut Envestnet from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, Sandler O’Neill reissued a “hold” rating and set a $56.00 price target on shares of Envestnet in a report on Tuesday, April 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $55.11.
Envestnet (NYSE:ENV) last issued its quarterly earnings results on Wednesday, May 9th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. Envestnet had a return on equity of 10.66% and a net margin of 2.48%. The business had revenue of $198.00 million during the quarter, compared to analyst estimates of $194.00 million. During the same quarter in the prior year, the business posted $0.25 EPS. Envestnet’s revenue for the quarter was up 25.5% compared to the same quarter last year. sell-side analysts expect that Envestnet will post 1.27 EPS for the current fiscal year.
In other news, Director Gayle A. Crowell sold 745 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $57.10, for a total transaction of $42,539.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anil Arora sold 557 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were 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. Insiders sold a total of 52,157 shares of company stock valued at $3,081,343 in the last quarter. 7.80% of the stock is currently owned by company insiders.
Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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