Algert Global LLC Acquires New Holdings in Envestnet, Inc. (NYSE:ENV)

Algert Global LLC bought a new position in Envestnet, Inc. (NYSE:ENV) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 4,154 shares of the business services provider’s stock, valued at approximately $260,000.

A number of other large investors have also recently added to or reduced their stakes in ENV. Select Equity Group L.P. lifted its position in Envestnet by 25.5% during the 2nd quarter. Select Equity Group L.P. now owns 15,458 shares of the business services provider’s stock worth $968,000 after acquiring an additional 3,138 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Envestnet in the second quarter worth about $212,000. The Manufacturers Life Insurance Company lifted its position in shares of Envestnet by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,643 shares of the business services provider’s stock worth $1,855,000 after purchasing an additional 1,051 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Envestnet during the 2nd quarter valued at approximately $434,000. Finally, Engaged Capital LLC grew its holdings in Envestnet by 479.8% in the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock valued at $43,343,000 after buying an additional 573,049 shares during the last quarter.

Envestnet Price Performance

Shares of Envestnet stock opened at $62.64 on Thursday. Envestnet, Inc. has a twelve month low of $33.12 and a twelve month high of $73.04. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $3.45 billion, a P/E ratio of -17.60 and a beta of 1.25. The firm’s 50-day simple moving average is $62.57 and its 200-day simple moving average is $62.50.

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

Wall Street Analyst Weigh In

ENV has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Envestnet in a report on Thursday, October 3rd. They set a “sell” rating for the company. UBS Group reiterated a “neutral” rating and set a $63.15 target price (down from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. William Blair reaffirmed a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. Finally, DA Davidson reissued a “neutral” rating and set a $63.00 target price on shares of Envestnet in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Envestnet presently has a consensus rating of “Hold” and a consensus target price of $61.88.

Envestnet Company Profile

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.