Zeke Capital Advisors LLC Has $541,000 Position in Envestnet Inc (ENV)

Zeke Capital Advisors LLC lowered its stake in Envestnet Inc (NYSE:ENV) by 54.8% during the first quarter, HoldingsChannel reports. The firm owned 8,280 shares of the business services provider’s stock after selling 10,056 shares during the period. Zeke Capital Advisors LLC’s holdings in Envestnet were worth $541,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its stake in Envestnet by 0.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 63,323 shares of the business services provider’s stock worth $3,115,000 after purchasing an additional 233 shares in the last quarter. Bank of Montreal Can increased its stake in Envestnet by 23.5% in the 4th quarter. Bank of Montreal Can now owns 1,410 shares of the business services provider’s stock worth $69,000 after purchasing an additional 268 shares in the last quarter. Strs Ohio increased its stake in Envestnet by 15.8% in the 4th quarter. Strs Ohio now owns 2,200 shares of the business services provider’s stock worth $108,000 after purchasing an additional 300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Envestnet by 11.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,104 shares of the business services provider’s stock worth $153,000 after purchasing an additional 320 shares in the last quarter. Finally, Huntington National Bank increased its stake in Envestnet by 27.3% in the 1st quarter. Huntington National Bank now owns 1,543 shares of the business services provider’s stock worth $101,000 after purchasing an additional 331 shares in the last quarter. 92.78% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on ENV. Zacks Investment Research raised Envestnet from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. SunTrust Banks began coverage on Envestnet in a research note on Thursday, April 18th. They issued a “buy” rating and a $80.00 price target on the stock. UBS Group lifted their price target on Envestnet from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. DA Davidson cut Envestnet from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $64.00 to $67.00 in a research note on Wednesday, March 20th. They noted that the move was a valuation call. Finally, William Blair reissued an “outperform” rating on shares of Envestnet in a research note on Thursday, March 14th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Envestnet has an average rating of “Buy” and an average price target of $69.67.

In other Envestnet news, insider Matthew Majoros sold 3,500 shares of Envestnet stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $66.78, for a total transaction of $233,730.00. Following the transaction, the insider now owns 14,846 shares of the company’s stock, valued at approximately $991,415.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joshua Mayer sold 1,162 shares of Envestnet stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $61.15, for a total value of $71,056.30. Following the transaction, the chief operating officer now directly owns 36,222 shares in the company, valued at approximately $2,214,975.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,146 shares of company stock worth $4,360,977. Company insiders own 4.97% of the company’s stock.

NYSE:ENV opened at $72.45 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 1.11. Envestnet Inc has a fifty-two week low of $46.57 and a fifty-two week high of $72.67. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 57.96, a price-to-earnings-growth ratio of 2.98 and a beta of 1.90.

Envestnet (NYSE:ENV) last released its earnings results on Thursday, February 21st. The business services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.18. Envestnet had a return on equity of 11.51% and a net margin of 0.71%. The company had revenue of $210.08 million for the quarter, compared to analysts’ expectations of $210.52 million. As a group, equities analysts forecast that Envestnet Inc will post 1.47 earnings per share for the current fiscal year.

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Envestnet Company Profile

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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