24,900 Shares in Envestnet, Inc. (NYSE:ENV) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in Envestnet, Inc. (NYSE:ENV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,900 shares of the business services provider's stock, valued at approximately $1,233,000.

Other hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Envestnet in the 3rd quarter valued at $45,000. PNC Financial Services Group Inc. lifted its holdings 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 acquiring an additional 802 shares during the period. Argent Capital Management LLC lifted its holdings in shares of Envestnet by 32.7% during the 3rd quarter. Argent Capital Management LLC now owns 5,167 shares of the business services provider's stock worth $228,000 after acquiring an additional 1,274 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of 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 worth $299,000 after acquiring an additional 2,915 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Envestnet during the 3rd quarter worth about $420,000.

Insider Buying and Selling at Envestnet

In related news, Director Lauren Taylor Wolfe acquired 1,670 shares of the stock in a transaction on Friday, March 15th. The stock was purchased at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the transaction, 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 filing with the SEC, which is available through this link. In other Envestnet news, Director Lauren Taylor Wolfe purchased 1,670 shares of the stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the transaction, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the sale, the insider now owns 15,212 shares of the company's stock, valued at approximately $865,867.04. The disclosure for this sale can be found here. Corporate insiders own 8.90% of the company's stock.

Envestnet Price Performance

Shares of Envestnet stock traded up $0.79 during mid-day trading on Tuesday, reaching $62.50. 357,353 shares of the stock were exchanged, compared to its average volume of 504,001. 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 company has a market cap of $3.42 billion, a price-to-earnings ratio of -14.21 and a beta of 1.31. Envestnet, Inc. has a fifty-two week low of $33.12 and a fifty-two week high of $68.83. The firm has a 50-day simple moving average of $55.21 and a 200 day simple moving average of $48.18.

Envestnet (NYSE:ENV - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.10. The firm had revenue of $317.63 million during the quarter, compared to analysts' expectations of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. On average, sell-side analysts predict that Envestnet, Inc. will post 1.78 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on ENV shares. DA Davidson raised their price objective on shares of Envestnet from $62.00 to $67.00 and gave the stock a "buy" rating in a report on Tuesday, April 2nd. StockNews.com downgraded shares of Envestnet from a "hold" rating to a "sell" rating in a report on Monday. William Blair reaffirmed an "outperform" rating on shares of Envestnet in a report on Wednesday, March 27th. Royal Bank of Canada increased their target price on shares of Envestnet from $47.00 to $56.00 and gave the stock a "sector perform" rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. increased their target price 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Envestnet has a consensus rating of "Moderate Buy" and an average target price of $63.67.

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.