Envestnet, Inc. (NYSE:ENV) Short Interest Update

Envestnet, Inc. (NYSE:ENV) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 2,660,000 shares, an increase of 14.7% from the July 15th total of 2,320,000 shares. Based on an average daily trading volume, of 932,800 shares, the short-interest ratio is currently 2.9 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC lifted its stake in shares of Envestnet by 20,229.7% during 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 buying an additional 1,816,020 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Envestnet by 12.9% during the fourth quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock valued at $297,885,000 after purchasing an additional 687,202 shares in the last quarter. Engaged Capital LLC lifted its position in Envestnet by 479.8% during the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock valued at $43,343,000 after acquiring an additional 573,049 shares during the last quarter. Norges Bank purchased a new position in Envestnet during the 4th quarter worth $25,319,000. Finally, Schroder Investment Management Group purchased a new stake in shares of Envestnet in the 4th quarter valued at $21,829,000.

Envestnet Price Performance

ENV traded down $0.25 on Friday, reaching $62.65. The stock had a trading volume of 631,749 shares, compared to its average volume of 708,217. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -17.60 and a beta of 1.28. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $73.04. The firm has a 50-day moving average of $62.01 and a 200-day moving average of $59.78. 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 (NYSE:ENV) last announced its quarterly earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.07). Envestnet had a positive return on equity of 14.75% and a negative net margin of 15.33%. The company had revenue of $348.30 million for the quarter, compared to the consensus estimate of $342.90 million. During the same quarter last year, the company posted $0.22 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Envestnet will post 1.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ENV. UBS Group reaffirmed a “neutral” rating and set a $63.15 price objective (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. William Blair reissued a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. DA Davidson downgraded shares of Envestnet from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $78.00 to $63.00 in a research note on Thursday, July 18th. Jefferies Financial Group raised shares of Envestnet from an “underperform” rating to a “hold” rating and raised their target price for the stock from $47.00 to $59.00 in a report on Wednesday, May 8th. Finally, Royal Bank of Canada lifted their target price on Envestnet from $56.00 to $64.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.88.

About Envestnet

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.