Geneva Capital Management LLC Has $52.21 Million Stock Holdings in Envestnet, Inc. (NYSE:ENV)

Geneva Capital Management LLC lowered its holdings in Envestnet, Inc. (NYSE:ENV) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,054,310 shares of the business services provider’s stock after selling 21,496 shares during the period. Geneva Capital Management LLC’s holdings in Envestnet were worth $52,209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Van Berkom & Associates Inc. raised its stake in shares of Envestnet by 33.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock valued at $77,603,000 after purchasing an additional 438,994 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Envestnet by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 508,579 shares of the business services provider’s stock valued at $25,185,000 after buying an additional 38,416 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Envestnet by 46.4% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 390,860 shares of the business services provider’s stock worth $17,210,000 after acquiring an additional 123,866 shares during the period. Summit Creek Advisors LLC boosted its holdings in 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. Finally, California Public Employees Retirement System boosted its stake in Envestnet by 4.3% in the 3rd quarter. California Public Employees Retirement System now owns 278,135 shares of the business services provider’s stock valued at $12,246,000 after buying an additional 11,568 shares in the last quarter.

Insider Activity

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

Envestnet Stock Performance

ENV traded up $2.52 on Thursday, reaching $66.28. The company had a trading volume of 697,277 shares, compared to its average volume of 492,084. The stock has a market cap of $3.63 billion, a P/E ratio of -15.17 and a beta of 1.26. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. Envestnet, Inc. has a fifty-two week low of $33.12 and a fifty-two week high of $68.83. The company’s fifty day moving average is $58.05 and its 200 day moving average is $49.90.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.10. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. The business had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $312.24 million. As a group, analysts predict that Envestnet, Inc. will post 1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Raymond James lifted their price target on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. DA Davidson boosted their price objective on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. JMP Securities reiterated a “market outperform” rating and set a $79.00 target price on shares of Envestnet in a report on Wednesday, April 17th. Finally, Royal Bank of Canada boosted their price target on Envestnet from $56.00 to $64.00 and gave the company a “sector perform” rating in a report on Wednesday. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $64.14.

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.