First Mercantile Trust Co. decreased its holdings in shares of Envestnet Inc (NYSE:ENV) by 12.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,769 shares of the business services provider’s stock after selling 1,392 shares during the period. First Mercantile Trust Co.’s holdings in Envestnet were worth $487,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ENV. BlackRock Inc. boosted its stake in Envestnet by 3.1% during the 2nd quarter. BlackRock Inc. now owns 2,662,809 shares of the business services provider’s stock valued at $105,446,000 after purchasing an additional 81,056 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Envestnet by 5.9% in the 2nd quarter. New York State Common Retirement Fund now owns 46,654 shares of the business services provider’s stock worth $1,847,000 after purchasing an additional 2,599 shares during the period. American Century Companies Inc. bought a new position in Envestnet in the 3rd quarter worth $2,505,000. UBS Asset Management Americas Inc. raised its holdings in Envestnet by 123.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 24,406 shares of the business services provider’s stock worth $966,000 after purchasing an additional 13,506 shares during the period. Finally, Stephens Investment Management Group LLC raised its holdings in Envestnet by 6.3% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,434,756 shares of the business services provider’s stock worth $73,173,000 after purchasing an additional 85,642 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on ENV. Royal Bank of Canada restated a “hold” rating on shares of Envestnet in a research report on Tuesday, November 7th. Zacks Investment Research upgraded Envestnet from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, January 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $62.00 price target (up previously from $52.00) on shares of Envestnet in a research report on Thursday, November 9th. Finally, UBS Group dropped their price target on Envestnet from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, November 17th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $55.00.
In other Envestnet news, CEO Judson Bergman sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $49.91, for a total value of $499,100.00. Following the sale, the chief executive officer now directly owns 733,569 shares of the company’s stock, valued at $36,612,428.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gayle A. Crowell sold 746 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $53.20, for a total transaction of $39,687.20. The disclosure for this sale can be found here. Insiders sold 187,694 shares of company stock worth $9,480,716 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.
Envestnet Inc (NYSE:ENV) traded up $1.05 during midday trading on Friday, reaching $56.00. 215,321 shares of the company’s stock traded hands, compared to its average volume of 243,382. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.63. Envestnet Inc has a fifty-two week low of $30.80 and a fifty-two week high of $56.35. The stock has a market capitalization of $2,434.60, a price-to-earnings ratio of -45.53, a P/E/G ratio of 2.73 and a beta of 1.96.
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Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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