Fisher Asset Management LLC Has $37.66 Million Holdings in Envestnet, Inc. (NYSE:ENV)

Fisher Asset Management LLC lessened its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 13.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 760,478 shares of the business services provider’s stock after selling 116,849 shares during the quarter. Fisher Asset Management LLC’s holdings in Envestnet were worth $37,659,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Quest Partners LLC bought a new position in Envestnet during the 4th quarter worth about $58,000. PNC Financial Services Group Inc. grew its holdings in shares of Envestnet by 19.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock valued at $217,000 after acquiring an additional 802 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Envestnet by 68.9% in the 4th quarter. Benjamin Edwards Inc. now owns 5,438 shares of the business services provider’s stock valued at $269,000 after acquiring an additional 2,218 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Envestnet by 75.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,788 shares of the business services provider’s stock valued at $299,000 after acquiring an additional 2,915 shares in the last quarter. Finally, Connable Office Inc. bought a new position in shares of Envestnet in the 4th quarter valued at about $345,000.

Envestnet Trading Up 3.1 %

Shares of ENV stock opened at $61.82 on Tuesday. The firm has a 50 day moving average price of $63.76 and a two-hundred day moving average price of $55.57. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $3.41 billion, a PE ratio of -17.37 and a beta of 1.28. Envestnet, Inc. has a 12-month low of $33.12 and a 12-month high of $73.04.

Envestnet (NYSE:ENV) last issued its quarterly earnings data on Tuesday, May 7th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $324.95 million during the quarter, compared to the consensus estimate of $324.85 million. Envestnet had a negative net margin of 15.33% and a positive return on equity of 14.75%. As a group, analysts predict that Envestnet, Inc. will post 1.78 earnings per share for the current year.

Insider Activity

In other news, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the sale, the insider now directly owns 15,212 shares in the company, valued at $865,867.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Envestnet from a “sell” rating to a “hold” rating in a report on Friday, May 10th. JMP Securities restated a “market outperform” rating and issued a $79.00 price objective on shares of Envestnet in a report on Wednesday, April 17th. DA Davidson lifted their price target on Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Royal Bank of Canada lifted their price target on Envestnet from $56.00 to $64.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lifted their price target on Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Envestnet presently has a consensus rating of “Moderate Buy” and an average price target of $64.14.

About Envestnet

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.