State of Alaska Department of Revenue Sells 731 Shares of Envestnet, Inc. (NYSE:ENV)

State of Alaska Department of Revenue lowered its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,684 shares of the business services provider’s stock after selling 731 shares during the period. State of Alaska Department of Revenue owned approximately 0.05% of Envestnet worth $1,796,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ENV. Price T Rowe Associates Inc. MD increased its holdings in Envestnet by 45.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock worth $8,968,000 after buying an additional 48,057 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in shares of Envestnet in the first quarter worth about $762,000. Natixis Advisors LLC bought a new stake in shares of Envestnet during the second quarter valued at approximately $718,000. Dimensional Fund Advisors LP lifted its stake in Envestnet by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock worth $65,057,000 after purchasing an additional 73,751 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in shares of Envestnet in the second quarter valued at $2,482,000.

Analyst Ratings Changes

A number of brokerages have recently commented on ENV. William Blair reiterated a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. StockNews.com initiated coverage on shares of Envestnet in a research note on Sunday, October 27th. They issued a “sell” rating for the company. UBS Group reissued a “neutral” rating and issued a $63.15 price target (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. DA Davidson reiterated a “neutral” rating and issued a $63.00 price target on shares of Envestnet in a research note on Wednesday, September 18th. Finally, Raymond James cut Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Envestnet has a consensus rating of “Hold” and an average target price of $61.88.

Envestnet Trading Up 0.1 %

NYSE ENV opened at $62.82 on Friday. The company has a 50-day moving average of $62.70 and a 200-day moving average of $63.06. Envestnet, Inc. has a 12 month low of $33.12 and a 12 month high of $73.04. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $3.47 billion, a P/E ratio of -13.63 and a beta of 1.25.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.07). The firm had revenue of $348.30 million for the quarter, compared to analyst estimates of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. As a group, equities analysts predict that Envestnet, Inc. will post 1.71 earnings per share for the current 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.