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

Envestnet, Inc. (NYSE:ENV) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 2,860,000 shares, a growth of 28.3% from the September 30th total of 2,230,000 shares. Based on an average daily trading volume, of 713,400 shares, the days-to-cover ratio is presently 4.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Envestnet by 1.4% in the first quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider’s stock worth $353,166,000 after purchasing an additional 83,081 shares during the period. Impactive Capital LP lifted its stake in shares of Envestnet by 0.8% in the 1st quarter. Impactive Capital LP now owns 4,183,865 shares of the business services provider’s stock worth $242,288,000 after acquiring an additional 32,832 shares during the period. Geneva Capital Management LLC boosted its holdings in shares of Envestnet by 1.6% in the first quarter. Geneva Capital Management LLC now owns 1,070,976 shares of the business services provider’s stock valued at $62,020,000 after acquiring an additional 16,666 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Envestnet by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock valued at $65,057,000 after acquiring an additional 73,751 shares during the period. Finally, Engaged Capital LLC raised its holdings in Envestnet by 479.8% during the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after purchasing an additional 573,049 shares in the last quarter.

Envestnet Stock Up 0.1 %

ENV stock opened at $62.78 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70. The firm’s 50-day simple moving average is $62.70 and its 200 day simple moving average is $62.98. The stock has a market cap of $3.46 billion, a PE ratio of -17.63 and a beta of 1.25. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $73.04.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The business had revenue of $348.30 million for the quarter, compared to the consensus estimate of $342.90 million. During the same period last year, the firm posted $0.22 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts predict that Envestnet will post 1.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Envestnet in a report on Wednesday, September 18th. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. William Blair restated a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. UBS Group restated a “neutral” rating and set a $63.15 price objective (down from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. Finally, StockNews.com started coverage on shares of Envestnet in a report on Sunday. They issued a “sell” rating for the company. One investment 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 MarketBeat.com, Envestnet presently has an average rating of “Hold” and an average target price of $61.88.

About Envestnet

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.