Vanguard Group Inc. Boosts Holdings in Envestnet, Inc. (NYSE:ENV)

Vanguard Group Inc. increased its position in shares of Envestnet, Inc. (NYSE:ENV) by 12.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,015,454 shares of the business services provider’s stock after purchasing an additional 687,202 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Envestnet worth $297,885,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. UBS Group AG lifted its stake in shares of Envestnet by 234.5% in the 3rd quarter. UBS Group AG now owns 59,039 shares of the business services provider’s stock valued at $2,599,000 after purchasing an additional 41,388 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Envestnet by 19.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock valued at $217,000 after buying an additional 802 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Envestnet by 113.1% during the third quarter. Envestnet Asset Management Inc. now owns 163,161 shares of the business services provider’s stock worth $7,184,000 after buying an additional 86,585 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Envestnet during the third quarter valued at about $5,604,000. Finally, Tower Research Capital LLC TRC raised its stake 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 during the period.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. DA Davidson lifted their target price on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. StockNews.com upgraded Envestnet from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Jefferies Financial Group raised Envestnet from an “underperform” rating to a “hold” rating and increased their target price for the stock from $47.00 to $59.00 in a research note on Wednesday, May 8th. William Blair reaffirmed an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. Finally, Royal Bank of Canada increased their price target on shares of Envestnet from $56.00 to $64.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Envestnet presently has an average rating of “Moderate Buy” and an average price target of $64.14.

Envestnet Stock Performance

Shares of ENV opened at $62.59 on Friday. Envestnet, Inc. has a 1 year low of $33.12 and a 1 year high of $73.04. The stock has a market capitalization of $3.45 billion, a PE ratio of -17.58 and a beta of 1.28. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a 50-day simple moving average of $64.19 and a 200-day simple moving average of $56.81.

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

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.