American Century Companies Inc. Buys New Stake in Envestnet, Inc (ENV)

American Century Companies Inc. bought a new position in shares of Envestnet, Inc (NYSE:ENV) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 49,113 shares of the business services provider’s stock, valued at approximately $2,505,000. American Century Companies Inc. owned about 0.11% of Envestnet at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. 1st Global Advisors Inc. grew its position in Envestnet by 1.1% during the 2nd quarter. 1st Global Advisors Inc. now owns 8,819 shares of the business services provider’s stock worth $349,000 after purchasing an additional 100 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Envestnet by 0.6% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 25,092 shares of the business services provider’s stock worth $994,000 after purchasing an additional 138 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Envestnet by 1.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,610 shares of the business services provider’s stock worth $489,000 after purchasing an additional 200 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Envestnet by 5.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock valued at $150,000 after acquiring an additional 204 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Envestnet by 0.9% in the 2nd quarter. California Public Employees Retirement System now owns 34,906 shares of the business services provider’s stock valued at $1,382,000 after acquiring an additional 300 shares during the last quarter. 93.28% of the stock is currently owned by institutional investors.

Shares of Envestnet, Inc (NYSE:ENV) opened at $49.95 on Monday. The company has a market cap of $2,213.08, a price-to-earnings ratio of 64.04, a PEG ratio of 3.71 and a beta of 1.97. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.63. Envestnet, Inc has a twelve month low of $30.80 and a twelve month high of $55.15.

Envestnet (NYSE:ENV) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. Envestnet had a negative net margin of 8.15% and a positive return on equity of 8.92%. The business had revenue of $175.61 million for the quarter, compared to the consensus estimate of $171.57 million. During the same period in the prior year, the firm earned $0.28 EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. sell-side analysts predict that Envestnet, Inc will post 0.9 earnings per share for the current fiscal year.

In related news, insider Anil Arora sold 16,418 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $50.00, for a total value of $820,900.00. Following the completion of the transaction, the insider now directly owns 56,175 shares in the company, valued at approximately $2,808,750. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gayle A. Crowell sold 746 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $53.60, for a total transaction of $39,985.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,464 shares of company stock valued at $8,217,883. Company insiders own 7.80% of the company’s stock.

Several analysts have recently commented on ENV shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Envestnet in a report on Tuesday, September 26th. Raymond James Financial, Inc. upped their price objective on shares of Envestnet from $44.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Envestnet from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Tuesday, October 10th. UBS AG reaffirmed a “buy” rating and issued a $63.00 price objective (up from $50.00) on shares of Envestnet in a report on Monday, October 9th. Finally, Jefferies Group LLC upped their price objective on shares of Envestnet from $47.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $55.13.

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Envestnet Profile

Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.

Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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