UniSuper Management Pty Ltd Invests $762,000 in Envestnet, Inc. (NYSE:ENV)

UniSuper Management Pty Ltd acquired a new stake in Envestnet, Inc. (NYSE:ENV) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,151 shares of the business services provider’s stock, valued at approximately $762,000.

Other large investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC acquired a new stake in shares of Envestnet during the first quarter worth $228,000. Summit Creek Advisors LLC grew its holdings in Envestnet by 0.6% in the first quarter. Summit Creek Advisors LLC now owns 323,547 shares of the business services provider’s stock valued at $18,737,000 after purchasing an additional 2,042 shares during the last quarter. Vanguard Group Inc. increased 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 valued at $353,166,000 after acquiring an additional 83,081 shares in the last quarter. Garrison Point Advisors LLC acquired a new position in shares of Envestnet during the 1st quarter worth approximately $337,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Envestnet by 10.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,772 shares of the business services provider’s stock worth $925,000 after acquiring an additional 1,460 shares during the last quarter.

Envestnet Stock Performance

ENV traded down $0.15 on Thursday, hitting $61.82. 230,184 shares of the company’s stock were exchanged, compared to its average volume of 656,637. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.47. The stock has a fifty day moving average of $63.58 and a two-hundred day moving average of $58.46. Envestnet, Inc. has a twelve month low of $33.12 and a twelve month high of $73.04. The firm has a market cap of $3.41 billion, a PE ratio of -17.41 and a beta of 1.28.

Envestnet (NYSE:ENV) last announced its quarterly earnings results on Tuesday, May 7th. The business services provider reported $0.34 earnings per share 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 for the quarter, compared to analysts’ expectations of $324.85 million. On average, research analysts anticipate that Envestnet, Inc. will post 1.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ENV. UBS Group reissued a “neutral” rating and issued a $63.15 price objective (down previously 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 note on Thursday, July 11th. StockNews.com started coverage on Envestnet in a research report on Tuesday. They set a “sell” rating on the stock. JMP Securities reissued a “market outperform” rating and issued a $79.00 price objective on shares of Envestnet in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group upgraded Envestnet from an “underperform” rating to a “hold” rating and increased their target price for the company from $47.00 to $59.00 in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.