Texas Permanent School Fund Corp Has $2.89 Million Stake in Envestnet, Inc. (NYSE:ENV)

Posted by Defense World Staff on Jul 27th, 2023

Texas Permanent School Fund Corp lifted its position in shares of Envestnet, Inc. (NYSE:ENV – Free Report) by 33.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,310 shares of the business services provider’s stock after acquiring an additional 12,483 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.09% of Envestnet worth $2,893,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. lifted its holdings in Envestnet by 2.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,280 shares of the business services provider’s stock worth $616,000 after buying an additional 198 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Envestnet by 8.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the business services provider’s stock worth $249,000 after buying an additional 267 shares during the period. Rhumbline Advisers lifted its holdings in Envestnet by 2.4% during the 1st quarter. Rhumbline Advisers now owns 152,849 shares of the business services provider’s stock worth $11,378,000 after buying an additional 3,542 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Envestnet by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,026 shares of the business services provider’s stock worth $1,491,000 after buying an additional 1,909 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in Envestnet by 9.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 29,683 shares of the business services provider’s stock worth $2,271,000 after buying an additional 2,517 shares during the period.

Envestnet Stock Performance

Shares of Envestnet stock opened at $62.01 on Thursday. Envestnet, Inc. has a one year low of $41.72 and a one year high of $69.22. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -28.71 and a beta of 1.25. The business has a 50-day simple moving average of $56.41 and a 200 day simple moving average of $60.00. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.75 and a quick ratio of 0.75.

Envestnet (NYSE:ENV – Get Free Report) last issued its quarterly earnings data on Thursday, May 4th. The business services provider reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $298.71 million during the quarter, compared to analyst estimates of $300.98 million. Envestnet had a positive return on equity of 7.31% and a negative net margin of 8.90%. On average, research analysts anticipate that Envestnet, Inc. will post 1.24 earnings per share for the current fiscal year.

Insider Transactions at Envestnet

In related news, CEO William Crager sold 7,250 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $53.68, for a total value of $389,180.00. Following the transaction, the chief executive officer now owns 325,356 shares in the company, valued at $17,465,110.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Envestnet news, CEO William Crager sold 7,250 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $53.68, for a total transaction of $389,180.00. Following the sale, the chief executive officer now owns 325,356 shares in the company, valued at $17,465,110.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew Majoros sold 4,000 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $54.74, for a total value of $218,960.00. Following the sale, the insider now owns 14,077 shares in the company, valued at approximately $770,574.98. The disclosure for this sale can be found here. Insiders have sold 11,940 shares of company stock worth $648,291 in the last 90 days. Insiders own 9.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 target price on shares of Envestnet in a report on Friday, June 30th. Raymond James lifted their price objective on Envestnet from $72.00 to $74.00 in a research report on Tuesday, July 11th. Finally, StockNews.com began coverage on Envestnet in a research report on Thursday, May 18th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $65.43.

Envestnet Company Profile

(Free Report)

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 Envestnet Wealth Solutions segment offers Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as 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.