Harbor Capital Advisors Inc. Sells 19,777 Shares of Envestnet, Inc. (NYSE:ENV)

Harbor Capital Advisors Inc. lessened its stake in shares of Envestnet, Inc. (NYSE:ENV - Free Report) by 76.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,179 shares of the business services provider's stock after selling 19,777 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Envestnet were worth $387,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Engaged Capital LLC boosted its stake in shares of Envestnet by 479.8% during the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider's stock valued at $43,343,000 after purchasing an additional 573,049 shares in the last quarter. Vanguard Group Inc. boosted its stake in Envestnet by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider's stock worth $353,166,000 after purchasing an additional 83,081 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Envestnet by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider's stock valued at $65,057,000 after purchasing an additional 73,751 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Envestnet by 45.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider's stock worth $8,968,000 after buying an additional 48,057 shares during the last quarter. Finally, ClariVest Asset Management LLC bought a new position in shares of Envestnet in the second quarter worth approximately $2,482,000.

Analyst Ratings Changes

A number of brokerages recently weighed in on ENV. StockNews.com started coverage on shares of Envestnet in a report on Monday. They issued a "sell" rating for the company. DA Davidson reissued a "neutral" rating and issued a $63.00 target price on shares of Envestnet in a report on Wednesday, September 18th. William Blair reaffirmed a "market perform" rating on shares of Envestnet in a research note on Thursday, July 11th. UBS Group restated a "neutral" rating and issued a $63.15 target price (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Finally, Raymond James downgraded shares of Envestnet from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $61.88.

Envestnet Trading Down 0.0 %

NYSE:ENV traded down $0.03 during mid-day trading on Friday, hitting $62.98. 373,748 shares of the stock traded hands, compared to its average volume of 674,775. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70. Envestnet, Inc. has a 52 week low of $33.12 and a 52 week high of $73.04. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -13.66 and a beta of 1.25. The firm's 50 day moving average is $62.70 and its two-hundred day moving average is $63.07.

Envestnet (NYSE:ENV - Get Free Report) last issued its quarterly earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.07). Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The business had revenue of $348.30 million during the quarter, compared to analysts' expectations of $342.90 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company's quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts predict that Envestnet, Inc. will post 1.71 earnings per share for the current year.

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.