Louisiana State Employees Retirement System Takes Position in Envestnet, Inc. (NYSE:ENV)

Louisiana State Employees Retirement System bought a new stake in Envestnet, Inc. (NYSE:ENV) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,900 shares of the business services provider’s stock, valued at approximately $1,233,000.

A number of other hedge funds have also modified their holdings of ENV. SG Americas Securities LLC raised its position in shares of Envestnet by 76.9% in the third quarter. SG Americas Securities LLC now owns 28,630 shares of the business services provider’s stock valued at $1,261,000 after buying an additional 12,450 shares during the last quarter. Argent Capital Management LLC increased its position in Envestnet by 32.7% during the third quarter. Argent Capital Management LLC now owns 5,167 shares of the business services provider’s stock worth $228,000 after purchasing an additional 1,274 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Envestnet by 13.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,575 shares of the business services provider’s stock worth $5,397,000 after purchasing an additional 14,916 shares during the last quarter. TD Asset Management Inc increased its position in Envestnet by 39.8% during the third quarter. TD Asset Management Inc now owns 35,834 shares of the business services provider’s stock worth $1,578,000 after purchasing an additional 10,200 shares during the last quarter. Finally, Summit Creek Advisors LLC increased its position in Envestnet by 0.4% during the third quarter. Summit Creek Advisors LLC now owns 345,682 shares of the business services provider’s stock worth $15,220,000 after purchasing an additional 1,248 shares during the last quarter.

Insider Activity

In other news, insider Matthew Majoros sold 700 shares of the firm’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 owns 15,212 shares of the company’s stock, valued at $865,867.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Matthew Majoros sold 700 shares of the firm’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 owns 15,212 shares of the company’s stock, valued at $865,867.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $52.99 per share, with a total value of $88,493.30. Following the purchase, the director now directly owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The disclosure for this purchase can be found here. Insiders own 8.90% of the company’s stock.

Envestnet Trading Down 2.6 %

NYSE ENV opened at $61.68 on Tuesday. The firm has a 50 day simple moving average of $55.04 and a 200-day simple moving average of $48.02. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. Envestnet, Inc. has a one year low of $33.12 and a one year high of $68.83. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -14.11 and a beta of 1.31.

Envestnet (NYSE:ENV) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.33 by $0.10. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. The business had revenue of $317.63 million during the quarter, compared to analyst estimates of $312.24 million. Equities research analysts anticipate that Envestnet, Inc. will post 1.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of Envestnet from a “hold” rating to a “sell” rating in a research report on Monday. William Blair restated an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price objective on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. DA Davidson increased their target price on shares of Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada increased their target price on shares of Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.67.

Envestnet 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.