10,376 Shares in Envestnet, Inc. (NYSE:ENV) Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC acquired a new stake in Envestnet, Inc. (NYSE:ENV - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,376 shares of the business services provider's stock, valued at approximately $649,000.

A number of other hedge funds have also recently modified their holdings of ENV. Vanguard Group Inc. boosted its stake in Envestnet by 12.9% during the fourth quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider's stock worth $297,885,000 after buying an additional 687,202 shares during the period. Schroder Investment Management Group purchased a new position in Envestnet during the fourth quarter worth about $21,829,000. One Fin Capital Management LP purchased a new position in Envestnet during the fourth quarter worth about $14,336,000. Dimensional Fund Advisors LP boosted its stake in shares of Envestnet by 7.6% in the second 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 period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $8,968,000 after purchasing an additional 48,057 shares during the period.

Wall Street Analyst Weigh In

ENV has been the subject of several recent research reports. DA Davidson reissued a "neutral" rating and issued a $63.00 price objective on shares of Envestnet in a research note on Wednesday, September 18th. UBS Group reissued a "neutral" rating and issued a $63.15 price objective (down previously from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. StockNews.com began coverage on shares of Envestnet in a report on Thursday, October 3rd. They issued a "sell" rating on the stock. Raymond James cut shares of Envestnet from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 17th. Finally, William Blair reaffirmed a "market perform" rating on shares of Envestnet in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $61.88.

Envestnet Stock Performance

Shares of Envestnet stock traded up $0.04 during trading on Wednesday, reaching $62.64. The company's stock had a trading volume of 511,080 shares, compared to its average volume of 700,842. The company has a 50-day moving average price of $62.56 and a two-hundred day moving average price of $62.49. The firm has a market cap of $3.45 billion, a PE ratio of -17.58 and a beta of 1.25. Envestnet, Inc. has a fifty-two week low of $33.12 and a fifty-two week high of $73.04. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70.

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 during the quarter, compared to analyst estimates 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 revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, analysts forecast that Envestnet, Inc. will post 1.71 EPS for the current year.

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.