Envestnet, Inc. (NYSE:ENV) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its holdings in shares of Envestnet, Inc. (NYSE:ENV - Free Report) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,194,878 shares of the business services provider's stock after selling 8,048 shares during the quarter. Clearbridge Investments LLC owned approximately 2.17% of Envestnet worth $74,787,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Arizona State Retirement System grew its stake in shares of Envestnet by 2.5% in the second quarter. Arizona State Retirement System now owns 11,552 shares of the business services provider's stock valued at $723,000 after buying an additional 286 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Envestnet by 2.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider's stock valued at $1,633,000 after buying an additional 543 shares in the last quarter. Natixis grew its stake in shares of Envestnet by 12.9% in the first quarter. Natixis now owns 4,767 shares of the business services provider's stock valued at $276,000 after buying an additional 544 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Envestnet by 2.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider's stock valued at $1,577,000 after purchasing an additional 600 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in Envestnet by 2.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 28,271 shares of the business services provider's stock valued at $1,637,000 after purchasing an additional 619 shares during the last quarter.

Envestnet Trading Up 0.1 %

Envestnet stock traded up $0.04 during mid-day trading on Thursday, reaching $62.63. 1,734,608 shares of the company traded hands, compared to its average volume of 705,236. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14. The firm's 50 day moving average price is $62.51 and its 200 day moving average price is $62.26. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -17.58 and a beta of 1.25. Envestnet, Inc. has a 52-week low of $33.12 and a 52-week high of $73.04.

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

Wall Street Analyst Weigh In

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

About Envestnet

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.