39,649 Shares in Envestnet, Inc. (NYSE:ENV) Acquired by ClariVest Asset Management LLC

ClariVest Asset Management LLC purchased a new position in shares of Envestnet, Inc. (NYSE:ENV) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 39,649 shares of the business services provider’s stock, valued at approximately $2,482,000. ClariVest Asset Management LLC owned about 0.07% of Envestnet at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Envestnet by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider’s stock worth $353,166,000 after purchasing an additional 83,081 shares during the last quarter. Impactive Capital LP raised its holdings in Envestnet by 0.8% in the 1st quarter. Impactive Capital LP now owns 4,183,865 shares of the business services provider’s stock valued at $242,288,000 after acquiring an additional 32,832 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Envestnet by 20,229.7% in the 4th quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock valued at $90,027,000 after acquiring an additional 1,816,020 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in Envestnet by 14.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider’s stock valued at $81,762,000 after acquiring an additional 207,632 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Envestnet by 0.9% in the 4th quarter. Clearbridge Investments LLC now owns 1,203,280 shares of the business services provider’s stock valued at $59,586,000 after acquiring an additional 10,360 shares in the last quarter.

Envestnet Stock Down 0.0 %

Shares of ENV opened at $62.77 on Wednesday. The company has a market capitalization of $3.47 billion, a PE ratio of -17.63 and a beta of 1.25. Envestnet, Inc. has a 12 month low of $33.12 and a 12 month high of $73.04. The stock’s 50-day moving average price is $62.33 and its two-hundred day moving average price is $61.14. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70.

Envestnet (NYSE:ENV) last announced its quarterly earnings data on Friday, August 9th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). The business had revenue of $348.30 million during the quarter, compared to analyst estimates of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share. On average, analysts anticipate that Envestnet, Inc. will post 1.71 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. DA Davidson cut Envestnet from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $78.00 to $63.00 in a report on Thursday, July 18th. UBS Group reiterated a “neutral” rating and issued a $63.15 price target (down previously from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. StockNews.com assumed coverage on Envestnet in a research note on Monday. They issued a “sell” rating on the stock. Raymond James lowered Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, William Blair reiterated a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.88.

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.