Cornercap Investment Counsel Inc. acquired a new stake in shares of Envestnet Inc (NYSE:ENV) during the 4th quarter, Holdings Channel reports. The fund acquired 15,015 shares of the business services provider’s stock, valued at approximately $748,000.
Other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Envestnet by 133.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock worth $139,000 after purchasing an additional 1,591 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Envestnet in the 4th quarter worth approximately $175,000. Zions Bancorporation bought a new stake in shares of Envestnet in the 3rd quarter worth approximately $181,000. First Republic Investment Management Inc. bought a new stake in shares of Envestnet in the 3rd quarter worth approximately $204,000. Finally, Turner Investments LLC bought a new stake in shares of Envestnet in the 3rd quarter worth approximately $230,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. Zacks Investment Research raised Envestnet from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a research report on Tuesday, January 9th. UBS Group dropped their price target on Envestnet from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, November 17th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Envestnet has an average rating of “Buy” and an average price target of $55.00.
Envestnet Inc (NYSE ENV) opened at $57.95 on Wednesday. The stock has a market capitalization of $2,623.11, a P/E ratio of 67.41, a P/E/G ratio of 2.95 and a beta of 1.86. Envestnet Inc has a 12-month low of $30.80 and a 12-month high of $59.70. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.
Envestnet (NYSE:ENV) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The business had revenue of $182.86 million for the quarter, compared to analysts’ expectations of $179.20 million. Envestnet had a positive return on equity of 9.93% and a negative net margin of 0.48%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. equities analysts anticipate that Envestnet Inc will post 1.33 earnings per share for the current fiscal year.
In related news, insider Shelly O’brien sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $50.00, for a total value of $150,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Peter D’arrigo sold 23,437 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $49.87, for a total value of $1,168,803.19. Following the completion of the transaction, the chief financial officer now directly owns 51,436 shares in the company, valued at $2,565,113.32. The disclosure for this sale can be found here. Insiders sold a total of 83,896 shares of company stock worth $4,365,785 over the last ninety days. 5.58% of the stock is currently owned by insiders.
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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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