Envestnet, Inc. (NYSE:ENV) Shares Bought by Geneva Capital Management LLC

Geneva Capital Management LLC grew its stake in Envestnet, Inc. (NYSE:ENV) by 1.6% during the 1st quarter, HoldingsChannel reports. The firm owned 1,070,976 shares of the business services provider’s stock after buying an additional 16,666 shares during the quarter. Geneva Capital Management LLC’s holdings in Envestnet were worth $62,020,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. YHB Investment Advisors Inc. acquired a new position in Envestnet in the 1st quarter worth about $38,000. Quest Partners LLC acquired a new stake in Envestnet in the fourth quarter valued at approximately $58,000. Quadrature Capital Ltd purchased a new stake in shares of Envestnet in the fourth quarter valued at approximately $236,000. Mesirow Financial Investment Management Inc. acquired a new position in shares of Envestnet during the 1st quarter worth approximately $238,000. Finally, Benjamin Edwards Inc. lifted its position in shares of Envestnet by 68.9% during the 4th quarter. Benjamin Edwards Inc. now owns 5,438 shares of the business services provider’s stock valued at $269,000 after buying an additional 2,218 shares in the last quarter.

Wall Street Analyst Weigh In

ENV has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded shares of Envestnet from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $47.00 to $59.00 in a research report on Wednesday, May 8th. William Blair restated a “market perform” rating on shares of Envestnet in a research report on Thursday. StockNews.com cut Envestnet from a “hold” rating to a “sell” rating in a report on Wednesday. Raymond James increased their target price on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Finally, DA Davidson lifted their price target on Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $64.14.

Envestnet Price Performance

Shares of NYSE:ENV traded down $0.05 during midday trading on Thursday, hitting $61.65. The company had a trading volume of 10,097,982 shares, compared to its average volume of 553,625. Envestnet, Inc. has a twelve month low of $33.12 and a twelve month high of $73.04. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of -17.32 and a beta of 1.28. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.19 and a quick ratio of 1.19. The business’s 50-day simple moving average is $64.22 and its 200-day simple moving average is $57.59.

Envestnet (NYSE:ENV) last issued its earnings results on Tuesday, May 7th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Envestnet had a positive return on equity of 14.75% and a negative net margin of 15.33%. The business had revenue of $324.95 million during the quarter, compared to the consensus estimate of $324.85 million. On average, research analysts predict that Envestnet, Inc. will post 1.78 earnings per share for the current year.

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.