King Luther Capital Management Corp increased its holdings in shares of Envestnet Inc (NYSE:ENV) by 141.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 240,211 shares of the business services provider’s stock after buying an additional 140,665 shares during the period. King Luther Capital Management Corp owned about 0.53% of Envestnet worth $13,200,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ENV. Wells Fargo & Company MN grew its holdings 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 worth $200,655,000 after acquiring an additional 198,782 shares in the last quarter. BlackRock Inc. grew its holdings in Envestnet by 16.7% during the 2nd quarter. BlackRock Inc. now owns 3,150,212 shares of the business services provider’s stock worth $173,104,000 after acquiring an additional 451,887 shares in the last quarter. Wasatch Advisors Inc. grew its holdings in Envestnet by 38.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,489,378 shares of the business services provider’s stock worth $136,791,000 after acquiring an additional 692,878 shares in the last quarter. Van Berkom & Associates Inc. grew its holdings in Envestnet by 0.7% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,297,378 shares of the business services provider’s stock worth $71,291,000 after acquiring an additional 9,308 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Envestnet by 0.4% during the 1st quarter. Northern Trust Corp now owns 608,054 shares of the business services provider’s stock worth $34,841,000 after acquiring an additional 2,359 shares in the last quarter. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Anil Arora sold 531 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $62.40, for a total value of $33,134.40. Following the completion of the transaction, the insider now owns 86,032 shares in the company, valued at approximately $5,368,396.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Shelly O’brien sold 4,000 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $54.81, for a total transaction of $219,240.00. Following the completion of the transaction, the insider now owns 43,366 shares of the company’s stock, valued at approximately $2,376,890.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,559 shares of company stock valued at $3,306,393. Company insiders own 7.80% of the company’s stock.

Shares of Envestnet stock opened at $62.00 on Friday. Envestnet Inc has a 12-month low of $42.80 and a 12-month high of $64.00. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $2.82 billion, a PE ratio of 60.98, a P/E/G ratio of 3.51 and a beta of 1.96.

Envestnet (NYSE:ENV) last issued its earnings results on Tuesday, August 7th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. Envestnet had a net margin of 2.50% and a return on equity of 10.75%. The business had revenue of $201.12 million during the quarter, compared to analysts’ expectations of $199.52 million. research analysts expect that Envestnet Inc will post 1.25 earnings per share for the current year.

Several research analysts have commented on ENV shares. TheStreet upgraded shares of Envestnet from a “c+” rating to a “b-” rating in a report on Monday, July 16th. UBS Group boosted their price target on shares of Envestnet from $62.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Zacks Investment Research upgraded shares of Envestnet from a “sell” rating to a “hold” rating in a report on Monday, August 13th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Envestnet in a report on Wednesday, July 18th. Finally, DA Davidson boosted their price target on shares of Envestnet to $56.00 and gave the stock an “average” rating in a report on Thursday, July 5th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $60.11.

Envestnet Company Profile

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness 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, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

Further Reading: Fundamental Analysis and Individual Investors

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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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