HM Payson & Co. grew its position in shares of Envestnet, Inc. (NYSE:ENV) by 107.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,075 shares of the business services provider’s stock after buying an additional 4,700 shares during the period. HM Payson & Co.’s holdings in Envestnet were worth $747,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of ENV. James Investment Research Inc. bought a new position in Envestnet during the 4th quarter worth $33,000. Marshall Wace LLP bought a new position in Envestnet during the 1st quarter worth $50,000. Fieldpoint Private Securities LLC bought a new position in Envestnet during the 4th quarter worth $110,000. Nisa Investment Advisors LLC increased its position in Envestnet by 17.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,055 shares of the business services provider’s stock worth $169,000 after buying an additional 300 shares during the period. Finally, Kingsview Wealth Management LLC bought a new position in Envestnet during the 4th quarter worth $205,000.
A number of research analysts recently commented on ENV shares. Raymond James decreased their price target on Envestnet from $105.00 to $91.00 and set a “strong-buy” rating on the stock in a research report on Thursday, March 4th. Jefferies Financial Group restated a “buy” rating and issued a $95.00 price target on shares of Envestnet in a research report on Thursday. Royal Bank of Canada decreased their price target on Envestnet from $96.00 to $79.00 and set a “sector perform” rating on the stock in a research report on Friday, February 26th. The Goldman Sachs Group started coverage on Envestnet in a research report on Wednesday, January 6th. They issued a “neutral” rating and a $91.00 price target on the stock. Finally, Truist initiated coverage on Envestnet in a research report on Friday, December 18th. They issued a “buy” rating and a $95.00 price target on the stock. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Envestnet currently has an average rating of “Buy” and an average price target of $87.20.
Envestnet (NYSE:ENV) last announced its quarterly earnings results on Thursday, February 25th. The business services provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.24. Envestnet had a positive return on equity of 10.44% and a negative net margin of 0.69%. The firm had revenue of $263.82 million for the quarter, compared to analyst estimates of $258.17 million. On average, sell-side analysts predict that Envestnet, Inc. will post 1.75 earnings per share for the current fiscal year.
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 Welth 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 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; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.
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