Clearbridge Investments LLC Buys 10,360 Shares of Envestnet, Inc. (NYSE:ENV)

Clearbridge Investments LLC grew its position in Envestnet, Inc. (NYSE:ENV) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,203,280 shares of the business services provider’s stock after purchasing an additional 10,360 shares during the quarter. Clearbridge Investments LLC owned approximately 2.20% of Envestnet worth $59,586,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Global Alpha Capital Management Ltd. increased its holdings in shares of Envestnet by 29.0% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 477,215 shares of the business services provider’s stock worth $23,632,000 after purchasing an additional 107,300 shares during the period. Norges Bank acquired a new position in Envestnet in the fourth quarter worth about $25,319,000. Principal Financial Group Inc. boosted its stake in Envestnet by 40.0% in the 4th quarter. Principal Financial Group Inc. now owns 280,233 shares of the business services provider’s stock valued at $13,877,000 after buying an additional 80,094 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Envestnet by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 971,916 shares of the business services provider’s stock worth $48,130,000 after acquiring an additional 6,415 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Envestnet during the fourth quarter valued at $415,000.

Envestnet Price Performance

ENV opened at $66.10 on Thursday. The firm’s fifty day moving average is $60.83 and its two-hundred day moving average is $51.96. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.47. Envestnet, Inc. has a twelve month low of $33.12 and a twelve month high of $68.83.

Envestnet (NYSE:ENV) last issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. Envestnet had a negative net margin of 15.33% and a positive return on equity of 14.75%. The business had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. Equities research analysts forecast that Envestnet, Inc. will post 1.78 earnings per share for the current year.

Insider Buying and Selling at Envestnet

In other Envestnet news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the transaction, the insider now owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Lauren Taylor Wolfe bought 1,670 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $52.99 per share, with a total value of $88,493.30. Following the completion of the purchase, the director now owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the transaction, the insider now directly owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The disclosure for this sale can be found here. Company insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ENV. William Blair restated an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. StockNews.com upgraded shares of Envestnet from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Royal Bank of Canada raised their price target on shares of Envestnet from $56.00 to $64.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. DA Davidson upped their price objective on Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $79.00 target price on shares of Envestnet in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $64.14.

Envestnet Company Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.