Envestnet, Inc. (NYSE:ENV) Short Interest Update

Envestnet, Inc. (NYSE:ENV) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 2,320,000 shares, a decline of 35.6% from the June 30th total of 3,600,000 shares. Based on an average daily volume of 842,300 shares, the short-interest ratio is presently 2.8 days.

Hedge Funds Weigh In On Envestnet

Large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue grew its stake in shares of Envestnet by 415.1% in the 4th quarter. State of Alaska Department of Revenue now owns 30,599 shares of the business services provider’s stock valued at $1,515,000 after buying an additional 24,659 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Envestnet by 50.3% in the 4th quarter. New York State Teachers Retirement System now owns 12,621 shares of the business services provider’s stock valued at $625,000 after buying an additional 4,221 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Envestnet by 6.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,499 shares of the business services provider’s stock valued at $6,462,000 after buying an additional 7,924 shares in the last quarter. Cambiar Investors LLC grew its stake in shares of Envestnet by 65.5% in the 4th quarter. Cambiar Investors LLC now owns 57,652 shares of the business services provider’s stock valued at $2,855,000 after buying an additional 22,823 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Envestnet in the 4th quarter valued at approximately $1,233,000.

Wall Street Analysts Forecast Growth

ENV has been the subject of several recent research reports. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Royal Bank of Canada upped their price objective on shares of Envestnet from $56.00 to $64.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. UBS Group reaffirmed a “neutral” rating and issued a $63.15 price objective (down previously from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Jefferies Financial Group raised shares of Envestnet from an “underperform” rating to a “hold” rating and upped their price target for the company from $47.00 to $59.00 in a report on Wednesday, May 8th. Finally, DA Davidson downgraded shares of Envestnet from a “buy” rating to a “neutral” rating and cut their price target for the company from $78.00 to $63.00 in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Envestnet has a consensus rating of “Hold” and a consensus target price of $61.88.

Envestnet Trading Up 0.0 %

NYSE ENV traded up $0.03 on Monday, hitting $62.03. 274,154 shares of the company were exchanged, compared to its average volume of 664,704. The company’s 50 day moving average price is $63.38 and its 200-day moving average price is $58.67. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market capitalization of $3.42 billion, a P/E ratio of -17.42 and a beta of 1.29. Envestnet has a twelve month low of $33.12 and a twelve month high of $73.04.

Envestnet (NYSE:ENV) last issued its earnings results on Tuesday, May 7th. The business services provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $324.95 million for the quarter, compared to the consensus estimate of $324.85 million. Envestnet had a positive return on equity of 14.75% and a negative net margin of 15.33%. Analysts predict that Envestnet will post 1.79 earnings per share for the current fiscal year.

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.