Federated Hermes Inc. Has $74,000 Stake in Envestnet, Inc. (NYSE:ENV)

Federated Hermes Inc. lessened its holdings in shares of Envestnet, Inc. (NYSE:ENV - Free Report) by 98.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,500 shares of the business services provider's stock after selling 123,538 shares during the quarter. Federated Hermes Inc.'s holdings in Envestnet were worth $74,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. New York State Common Retirement Fund raised its stake in shares of Envestnet by 2.1% during the third quarter. New York State Common Retirement Fund now owns 20,063 shares of the business services provider's stock worth $883,000 after acquiring an additional 409 shares in the last quarter. PNC Financial Services Group Inc. lifted its position 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 buying an additional 802 shares during the period. Headlands Technologies LLC purchased a new position in Envestnet during the third quarter valued at $45,000. Victory Capital Management Inc. lifted its position in Envestnet by 11.7% during the third quarter. Victory Capital Management Inc. now owns 9,907 shares of the business services provider's stock valued at $436,000 after buying an additional 1,035 shares during the period. Finally, Summit Creek Advisors LLC lifted its position in Envestnet by 0.4% during the third quarter. Summit Creek Advisors LLC now owns 345,682 shares of the business services provider's stock valued at $15,220,000 after buying an additional 1,248 shares during the period.

Envestnet Stock Down 1.2 %

Shares of NYSE:ENV traded down $0.73 during mid-day trading on Tuesday, reaching $62.70. 529,568 shares of the company traded hands, compared to its average volume of 486,920. The company's 50 day moving average price is $57.56 and its 200-day moving average price is $49.65. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. Envestnet, Inc. has a 52 week low of $33.12 and a 52 week 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 for the quarter, topping the consensus estimate of $0.33 by $0.10. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. The business had revenue of $317.63 million during the quarter, compared to the consensus estimate of $312.24 million. As a group, equities research analysts anticipate that Envestnet, Inc. will post 1.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ENV has been the subject of several recent research reports. Royal Bank of Canada raised their price objective on Envestnet from $47.00 to $56.00 and gave the company a "sector perform" rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lifted their price target on Envestnet from $44.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, February 23rd. JMP Securities reaffirmed a "market outperform" rating and issued a $79.00 price target on shares of Envestnet in a research report on Wednesday, April 17th. DA Davidson boosted their target price on Envestnet from $62.00 to $67.00 and gave the stock a "buy" rating in a research report on Tuesday, April 2nd. Finally, William Blair reissued an "outperform" rating on shares of Envestnet in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $63.67.

Insiders Place Their Bets

In other Envestnet news, insider Matthew Majoros sold 700 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Envestnet news, Director Lauren Taylor Wolfe bought 1,670 shares of Envestnet stock in a transaction on Friday, March 15th. The shares were 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 in the company, valued at approximately $221,968,274.29. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew Majoros sold 700 shares of the 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 in the company, valued at approximately $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by corporate insiders.

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.