Louisiana State Employees Retirement System Acquires New Holdings in Envestnet, Inc. (NYSE:ENV)

Louisiana State Employees Retirement System acquired a new stake in Envestnet, Inc. (NYSE:ENV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,900 shares of the business services provider’s stock, valued at approximately $1,233,000.

Other large investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Envestnet in the 3rd quarter valued at about $45,000. PNC Financial Services Group Inc. lifted its holdings in Envestnet by 19.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 802 shares in the last quarter. Argent Capital Management LLC lifted its holdings in Envestnet by 32.7% in the 3rd quarter. Argent Capital Management LLC now owns 5,167 shares of the business services provider’s stock valued at $228,000 after purchasing an additional 1,274 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Envestnet by 75.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,788 shares of the business services provider’s stock valued at $299,000 after purchasing an additional 2,915 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Envestnet in the 3rd quarter valued at about $420,000.

Envestnet Trading Down 2.6 %

Shares of ENV stock opened at $61.68 on Tuesday. The firm has a market cap of $3.38 billion, a P/E ratio of -14.11 and a beta of 1.31. Envestnet, Inc. has a 1-year low of $33.12 and a 1-year high of $68.83. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50-day simple moving average is $55.04 and its 200-day simple moving average is $48.02.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.33 by $0.10. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. The firm had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. As a group, equities analysts forecast that Envestnet, Inc. will post 1.78 EPS for the current year.

Insider Activity at Envestnet

In related news, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the transaction, the insider now owns 15,212 shares in the company, valued at $865,867.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Envestnet news, Director Lauren Taylor Wolfe purchased 1,670 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the acquisition, the director now owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the transaction, the insider now owns 15,212 shares in the company, valued at approximately $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $79.00 target price on shares of Envestnet in a report on Wednesday, April 17th. DA Davidson upped their target price on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. William Blair restated an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. Raymond James increased their price objective on shares of Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada increased their price objective on shares of Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.67.

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.