Xact Kapitalforvaltning AB purchased a new stake in shares of Envestnet (NYSE:ENV) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,523 shares of the business services provider’s stock, valued at approximately $225,000.

Several other hedge funds have also added to or reduced their stakes in ENV. Ameriprise Financial Inc. raised its stake in shares of Envestnet by 33.8% during the third quarter. Ameriprise Financial Inc. now owns 127,868 shares of the business services provider’s stock valued at $6,521,000 after acquiring an additional 32,310 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Envestnet by 16.5% during the third quarter. Legal & General Group Plc now owns 18,188 shares of the business services provider’s stock valued at $925,000 after acquiring an additional 2,576 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Envestnet by 10.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 204,030 shares of the business services provider’s stock valued at $10,406,000 after acquiring an additional 18,533 shares during the last quarter. Royce & Associates LP bought a new position in shares of Envestnet during the third quarter valued at $306,000. Finally, First Republic Investment Management Inc. bought a new position in shares of Envestnet during the third quarter valued at $204,000. 93.20% of the stock is owned by hedge funds and other institutional investors.

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ENV opened at $54.70 on Tuesday. Envestnet has a twelve month low of $33.30 and a twelve month high of $60.28. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The firm has a market cap of $2,412.90, a PE ratio of 62.01, a PEG ratio of 2.78 and a beta of 1.76.

Envestnet (NYSE:ENV) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Envestnet had a negative net margin of 0.48% and a positive return on equity of 9.93%. The company had revenue of $182.86 million during the quarter, compared to analysts’ expectations of $179.20 million. During the same period in the prior year, the company posted $0.32 earnings per share. Envestnet’s revenue for the quarter was up 17.6% compared to the same quarter last year. research analysts anticipate that Envestnet will post 1.29 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on ENV shares. Zacks Investment Research raised shares of Envestnet from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research note on Tuesday, January 9th. ValuEngine upgraded shares of Envestnet from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Sandler O’Neill reiterated a “hold” rating and set a $56.00 price objective on shares of Envestnet in a research report on Tuesday, April 10th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $55.11.

In other Envestnet news, CTO Scott D. Grinis sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $59.75, for a total value of $2,390,000.00. Following the completion of the sale, the chief technology officer now directly owns 205,340 shares in the company, valued at $12,269,065. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anil Arora sold 557 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $57.40, for a total transaction of $31,971.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,767 shares of company stock valued at $3,711,157. 5.58% of the stock is currently owned by corporate insiders.

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Envestnet 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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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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