Envestnet, Inc. (NYSE:ENV) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 98.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the business services provider’s stock after selling 123,538 shares during the period. Federated Hermes Inc.’s holdings in Envestnet were worth $74,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of Envestnet during the 3rd quarter valued at about $45,000. PNC Financial Services Group Inc. raised its position in shares of 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 worth $217,000 after purchasing an additional 802 shares during the period. Tower Research Capital LLC TRC boosted its position in Envestnet by 75.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,788 shares of the business services provider’s stock valued at $299,000 after purchasing an additional 2,915 shares during the period. Quantbot Technologies LP bought a new position in Envestnet during the 3rd quarter worth $420,000. Finally, Victory Capital Management Inc. increased its position in Envestnet by 11.7% in the third quarter. Victory Capital Management Inc. now owns 9,907 shares of the business services provider’s stock worth $436,000 after buying an additional 1,035 shares during the period.

Envestnet Price Performance

Shares of Envestnet stock opened at $63.43 on Tuesday. Envestnet, Inc. has a 52 week low of $33.12 and a 52 week high of $68.83. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a market cap of $3.48 billion, a PE ratio of -14.51 and a beta of 1.26. The company’s 50-day moving average price is $57.56 and its two-hundred day moving average price is $49.65.

Envestnet (NYSE:ENV) last released its earnings results 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. The business had revenue of $317.63 million for the quarter, compared to the consensus estimate of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. As a group, sell-side analysts anticipate that Envestnet, Inc. will post 1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ENV. JPMorgan Chase & Co. upped their price target 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 boosted their price objective on Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. JMP Securities reiterated a “market outperform” rating and set a $79.00 price target on shares of Envestnet in a research report on Wednesday, April 17th. William Blair restated an “outperform” rating on shares of Envestnet in a research note on Wednesday, March 27th. Finally, StockNews.com downgraded shares of Envestnet from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Insider Buying and Selling

In related news, Director Lauren Taylor Wolfe purchased 1,670 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased 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 of the company’s stock, valued at approximately $221,968,274.29. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 15,212 shares of the company’s stock, valued at $865,867.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Taylor Wolfe acquired 1,670 shares of Envestnet stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $52.99 per share, with a total value of $88,493.30. Following the completion of 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. Insiders own 8.90% of the company’s stock.

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.