Zions Bancorporation N.A. Sells 933 Shares of Envestnet, Inc. (NYSE:ENV)

Zions Bancorporation N.A. trimmed its stake in Envestnet, Inc. (NYSE:ENV) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,712 shares of the business services provider’s stock after selling 933 shares during the period. Zions Bancorporation N.A.’s holdings in Envestnet were worth $1,609,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ENV. Norges Bank purchased a new stake in Envestnet in the fourth quarter worth approximately $25,319,000. Price T Rowe Associates Inc. MD boosted its stake in Envestnet by 45.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock worth $8,968,000 after buying an additional 48,057 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of Envestnet during the fourth quarter valued at approximately $21,829,000. UniSuper Management Pty Ltd purchased a new stake in shares of Envestnet during the first quarter valued at approximately $762,000. Finally, One Fin Capital Management LP purchased a new stake in shares of Envestnet during the fourth quarter valued at approximately $14,336,000.

Envestnet Stock Down 0.2 %

Envestnet stock opened at $62.62 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $3.46 billion, a PE ratio of -17.59 and a beta of 1.25. The business has a 50 day simple moving average of $62.32 and a 200-day simple moving average of $61.23. Envestnet, Inc. has a 12 month low of $33.12 and a 12 month high of $73.04.

Envestnet (NYSE:ENV) last posted its quarterly earnings results 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 company had revenue of $348.30 million during the quarter, compared to analysts’ expectations of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. Envestnet’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. On average, analysts anticipate that Envestnet, Inc. will post 1.71 EPS for the current fiscal year.

Analysts Set New Price Targets

ENV has been the subject of a number of analyst reports. DA Davidson lowered 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 research note on Thursday, July 18th. StockNews.com assumed coverage on Envestnet in a research note on Monday, September 9th. They issued a “sell” rating for the company. UBS Group reaffirmed 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. Raymond James lowered Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, William Blair reaffirmed 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $61.88.

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.