Argent Capital Management LLC Acquires 1,487 Shares of Envestnet, Inc. (NYSE:ENV)

Argent Capital Management LLC grew its stake in Envestnet, Inc. (NYSE:ENV) by 13.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,356 shares of the business services provider’s stock after acquiring an additional 1,487 shares during the quarter. Argent Capital Management LLC’s holdings in Envestnet were worth $892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearbridge Investments LLC increased its stake in Envestnet by 29.9% during the 4th quarter. Clearbridge Investments LLC now owns 1,259,808 shares of the business services provider’s stock valued at $103,670,000 after purchasing an additional 290,235 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in Envestnet by 1.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,079,628 shares of the business services provider’s stock valued at $88,843,000 after purchasing an additional 18,060 shares during the last quarter. TimesSquare Capital Management LLC increased its holdings in shares of Envestnet by 27.9% in the first quarter. TimesSquare Capital Management LLC now owns 1,010,135 shares of the business services provider’s stock valued at $72,962,000 after purchasing an additional 220,400 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Envestnet by 47.9% during the fourth quarter. Brown Advisory Inc. now owns 960,274 shares of the business services provider’s stock worth $79,021,000 after purchasing an additional 310,879 shares during the period. Finally, Federated Hermes Inc. boosted its position in Envestnet by 16.0% in the fourth quarter. Federated Hermes Inc. now owns 848,935 shares of the business services provider’s stock valued at $69,859,000 after buying an additional 116,992 shares during the last quarter. 99.98% of the stock is owned by hedge funds and other institutional investors.

Envestnet stock opened at $79.25 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.14 and a quick ratio of 2.14. The stock has a market capitalization of $4.31 billion, a PE ratio of 233.09 and a beta of 1.30. The firm has a 50 day simple moving average of $72.27. Envestnet, Inc. has a 12 month low of $61.00 and a 12 month high of $92.51.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, May 6th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $275.10 million for the quarter, compared to analysts’ expectations of $273.48 million. Envestnet had a net margin of 1.87% and a return on equity of 11.50%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. Equities analysts forecast that Envestnet, Inc. will post 1.44 EPS for the current fiscal year.

Several analysts have recently commented on ENV shares. Truist dropped their price objective on shares of Envestnet from $95.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, May 13th. William Blair reaffirmed an “outperform” rating on shares of Envestnet in a research report on Friday, February 26th. Raymond James decreased their price objective on Envestnet from $91.00 to $86.00 and set a “strong-buy” rating for the company in a report on Friday, May 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $95.00 target price on shares of Envestnet in a report on Thursday, April 8th. Finally, Truist Securities lowered their price objective on Envestnet from $95.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, May 13th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.00.

Envestnet Profile

Envestnet, Inc, together with its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through Envestnet Wealth Solutions and Envestnet Data & Analytics segments. The company's product and services include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as offers 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; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.

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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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