Mutual of America Capital Management LLC Reduces Stock Holdings in Envestnet, Inc. (NYSE:ENV)

Mutual of America Capital Management LLC trimmed its holdings in shares of Envestnet, Inc. (NYSE:ENV - Free Report) by 73.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,705 shares of the business services provider's stock after selling 23,629 shares during the period. Mutual of America Capital Management LLC's holdings in Envestnet were worth $431,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Envestnet during the third quarter valued at approximately $45,000. PNC Financial Services Group Inc. grew its holdings in Envestnet by 19.4% during the third quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider's stock valued at $217,000 after purchasing an additional 802 shares during the period. Argent Capital Management LLC grew its holdings in Envestnet by 32.7% during the third quarter. Argent Capital Management LLC now owns 5,167 shares of the business services provider's stock valued at $228,000 after purchasing an additional 1,274 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Envestnet by 75.3% in the third quarter. Tower Research Capital LLC TRC now owns 6,788 shares of the business services provider's stock valued at $299,000 after buying an additional 2,915 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Envestnet in the third quarter valued at approximately $420,000.

Envestnet Stock Down 0.4 %

Shares of ENV stock traded down $0.28 during trading on Wednesday, reaching $62.29. The company's stock had a trading volume of 286,059 shares, compared to its average volume of 501,241. The business has a fifty day moving average price of $55.46 and a 200-day moving average price of $48.34. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -14.16 and a beta of 1.31. Envestnet, Inc. has a one year low of $33.12 and a one year high of $68.83.

Envestnet (NYSE:ENV - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.10. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. The firm had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. Analysts anticipate that Envestnet, Inc. will post 1.78 earnings per share for the current year.

Insider Activity

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

Analyst Ratings Changes

ENV has been the subject of several research analyst reports. William Blair reiterated an "outperform" rating on shares of Envestnet in a report on Wednesday, March 27th. Raymond James upped their price target on shares of Envestnet from $52.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. upped their price target on shares of Envestnet from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, February 23rd. Royal Bank of Canada upped their price target on shares of Envestnet from $47.00 to $56.00 and gave the company a "sector perform" rating in a report on Friday, February 23rd. Finally, DA Davidson upped their price target on shares of Envestnet from $62.00 to $67.00 and gave the company a "buy" rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $63.67.

Envestnet Company 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.