Geneva Capital Management LLC Sells 21,496 Shares of Envestnet, Inc. (NYSE:ENV)

Geneva Capital Management LLC trimmed its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,054,310 shares of the business services provider’s stock after selling 21,496 shares during the quarter. Geneva Capital Management LLC owned 1.93% of Envestnet worth $52,209,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. New York State Common Retirement Fund grew its position in shares of Envestnet by 2.1% during the 3rd quarter. New York State Common Retirement Fund now owns 20,063 shares of the business services provider’s stock worth $883,000 after buying an additional 409 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Envestnet by 19.4% during 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 during the period. Headlands Technologies LLC bought a new stake in shares of Envestnet in the 3rd quarter valued at about $45,000. Victory Capital Management Inc. lifted its position in shares of Envestnet by 11.7% in the 3rd quarter. Victory Capital Management Inc. now owns 9,907 shares of the business services provider’s stock worth $436,000 after purchasing an additional 1,035 shares during the period. Finally, Summit Creek Advisors LLC boosted its stake in shares of Envestnet by 0.4% during the third quarter. Summit Creek Advisors LLC now owns 345,682 shares of the business services provider’s stock valued at $15,220,000 after purchasing an additional 1,248 shares in the last quarter.

Insider Transactions at Envestnet

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

Analysts Set New Price Targets

A number of brokerages recently commented on ENV. Royal Bank of Canada boosted their price objective on shares of Envestnet from $56.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Wednesday. StockNews.com downgraded Envestnet from a “hold” rating to a “sell” rating in a research report on Thursday, May 2nd. William Blair reiterated an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. DA Davidson raised their price target on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Jefferies Financial Group upgraded Envestnet from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $47.00 to $59.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $64.14.

Envestnet Stock Performance

Envestnet stock traded up $2.52 during midday trading on Thursday, hitting $66.28. 697,277 shares of the company were exchanged, compared to its average volume of 492,084. The business has a fifty day simple moving average of $58.05 and a two-hundred day simple moving average of $49.90. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $3.63 billion, a PE ratio of -15.17 and a beta of 1.26. Envestnet, Inc. has a fifty-two week low of $33.12 and a fifty-two week high of $68.83.

Envestnet (NYSE:ENV) last issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $312.24 million. On average, sell-side analysts forecast that Envestnet, Inc. will post 1.78 earnings per share for the current year.

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.