Virginia Retirement Systems ET AL Takes Position in Envestnet Inc. (ENV)
Virginia Retirement Systems ET AL bought a new position in Envestnet Inc. (NYSE:ENV) during the second quarter, Holdings Channel reports. The fund bought 18,000 shares of the company’s stock, valued at approximately $600,000.
A number of other institutional investors have also modified their holdings of the company. Nisa Investment Advisors L.L.C. acquired a new position in shares of Envestnet during the first quarter worth approximately $373,000. Franklin Resources Inc. boosted its position in shares of Envestnet by 7.6% in the first quarter. Franklin Resources Inc. now owns 1,148,626 shares of the company’s stock worth $31,243,000 after buying an additional 80,665 shares during the last quarter. BlackRock Inc. boosted its position in shares of Envestnet by 233.3% in the first quarter. BlackRock Inc. now owns 4,093 shares of the company’s stock worth $111,000 after buying an additional 2,865 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in shares of Envestnet during the first quarter worth approximately $26,368,000. Finally, TimesSquare Capital Management LLC boosted its position in shares of Envestnet by 17.1% in the first quarter. TimesSquare Capital Management LLC now owns 2,591,040 shares of the company’s stock worth $70,476,000 after buying an additional 377,540 shares during the last quarter.
Shares of Envestnet Inc. (NYSE:ENV) opened at 36.88 on Wednesday. The company’s market cap is $1.58 billion. Envestnet Inc. has a 52 week low of $19.30 and a 52 week high of $41.47. The stock’s 50 day moving average is $38.46 and its 200-day moving average is $34.62.
Envestnet (NYSE:ENV) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The company had revenue of $141.70 million for the quarter, compared to the consensus estimate of $139.12 million. Envestnet had a negative net margin of 3.95% and a positive return on equity of 4.20%. The firm’s revenue was up 38.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 EPS. On average, equities analysts anticipate that Envestnet Inc. will post $0.99 earnings per share for the current year.
A number of equities research analysts have issued reports on ENV shares. JMP Securities reissued a “buy” rating and issued a $9.50 price target (down previously from $36.00) on shares of Envestnet in a report on Thursday, June 23rd. Zacks Investment Research raised shares of Envestnet from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Thursday, July 14th. Jefferies Group reissued a “buy” rating on shares of Envestnet in a report on Wednesday, August 3rd. Royal Bank Of Canada raised their price target on shares of Envestnet from $37.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 9th. Finally, Avondale Partners lowered shares of Envestnet from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $36.19.
In related news, insider Shelly O’brien sold 4,500 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $36.25, for a total value of $163,125.00. Following the transaction, the insider now owns 10,240 shares of the company’s stock, valued at approximately $371,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Judson Bergman sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $36.28, for a total transaction of $725,600.00. Following the completion of the transaction, the chief executive officer now directly owns 669,106 shares in the company, valued at approximately $24,275,165.68. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.
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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