Van Berkom & Associates Inc. increased its position in Envestnet Inc (NYSE:ENV) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,297,378 shares of the business services provider’s stock after purchasing an additional 9,308 shares during the quarter. Envestnet makes up about 2.1% of Van Berkom & Associates Inc.’s investment portfolio, making the stock its 24th largest holding. Van Berkom & Associates Inc. owned about 2.87% of Envestnet worth $71,291,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ENV. Wasatch Advisors Inc. lifted its stake in shares of Envestnet by 38.6% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,489,378 shares of the business services provider’s stock valued at $136,791,000 after purchasing an additional 692,878 shares during the period. Wells Fargo & Company MN increased its position in Envestnet by 5.8% during the 2nd quarter. Wells Fargo & Company MN now owns 3,651,578 shares of the business services provider’s stock valued at $200,655,000 after buying an additional 198,782 shares in the last quarter. Fiera Capital Corp increased its position in Envestnet by 141.8% during the 1st quarter. Fiera Capital Corp now owns 309,165 shares of the business services provider’s stock valued at $17,715,000 after buying an additional 181,297 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Envestnet by 1,553.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 164,000 shares of the business services provider’s stock valued at $9,397,000 after buying an additional 154,081 shares in the last quarter. Finally, Impax Asset Management LLC bought a new position in Envestnet during the 1st quarter valued at approximately $8,595,000. Institutional investors own 98.15% of the company’s stock.
Shares of Envestnet stock traded up $0.90 on Tuesday, reaching $60.55. The company’s stock had a trading volume of 7,035 shares, compared to its average volume of 324,120. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 68.81, a PEG ratio of 3.32 and a beta of 1.81. Envestnet Inc has a 52 week low of $38.00 and a 52 week high of $62.95. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.90.
Envestnet (NYSE:ENV) last posted its earnings results on Tuesday, August 7th. The business services provider reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. The business had revenue of $201.12 million during the quarter, compared to analyst estimates of $199.52 million. Envestnet had a return on equity of 10.75% and a net margin of 2.50%. equities research analysts forecast that Envestnet Inc will post 1.25 EPS for the current fiscal year.
In related news, insider Anil Arora sold 531 shares of Envestnet stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $62.40, for a total value of $33,134.40. Following the completion of the sale, the insider now owns 86,032 shares of the company’s stock, valued at $5,368,396.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gayle A. Crowell sold 2,934 shares of Envestnet stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $54.35, for a total value of $159,462.90. The disclosure for this sale can be found here. Insiders sold 23,685 shares of company stock valued at $1,357,688 in the last ninety days. 5.49% of the stock is currently owned by corporate insiders.
ENV has been the subject of a number of analyst reports. DA Davidson raised their price objective on Envestnet to $56.00 and gave the company an “average” rating in a research report on Thursday, July 5th. TheStreet raised Envestnet from a “c+” rating to a “b-” rating in a research report on Monday, July 16th. UBS Group raised their price objective on Envestnet from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 10th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Envestnet in a research report on Wednesday, July 18th. Finally, Zacks Investment Research raised Envestnet from a “sell” rating to a “hold” rating in a research report on Monday, August 13th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $60.11.
Envestnet Company Profile
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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