TimesSquare Capital Management LLC Buys 275,955 Shares of Envestnet Inc (ENV)

TimesSquare Capital Management LLC boosted its stake in Envestnet Inc (NYSE:ENV) by 14.1% during the first quarter, Holdings Channel reports. The institutional investor owned 2,235,015 shares of the business services provider’s stock after buying an additional 275,955 shares during the period. TimesSquare Capital Management LLC owned approximately 0.05% of Envestnet worth $72,191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new position in shares of Envestnet during the first quarter worth about $116,000. CI Investments Inc. bought a new position in shares of Envestnet during the first quarter worth about $194,000. Laurion Capital Management LP bought a new position in shares of Envestnet during the first quarter worth about $216,000. Airain ltd bought a new position in shares of Envestnet during the first quarter worth about $266,000. Finally, 1st Global Advisors Inc. boosted its position in shares of Envestnet by 26.5% in the first quarter. 1st Global Advisors Inc. now owns 8,719 shares of the business services provider’s stock worth $282,000 after buying an additional 1,827 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

Shares of Envestnet Inc (NYSE ENV) traded up 1.11% on Wednesday, reaching $36.40. 143,555 shares of the company’s stock were exchanged. The company’s market capitalization is $1.60 billion. The stock’s 50-day moving average price is $35.42 and its 200-day moving average price is $35.85. Envestnet Inc has a 1-year low of $30.80 and a 1-year high of $41.47.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Wednesday, May 10th. The business services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Envestnet had a negative net margin of 8.32% and a negative return on equity of 12.88%. The company had revenue of $157.80 million for the quarter, compared to the consensus estimate of $155.56 million. During the same period in the previous year, the firm earned $0.18 EPS. Envestnet’s revenue was up 19.5% on a year-over-year basis. Analysts anticipate that Envestnet Inc will post $1.26 EPS for the current fiscal year.

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A number of brokerages have issued reports on ENV. Royal Bank of Canada reaffirmed a “hold” rating and issued a $40.00 target price on shares of Envestnet in a report on Thursday, May 11th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Envestnet in a report on Friday, March 24th. Finally, Zacks Investment Research cut shares of Envestnet from a “buy” rating to a “hold” rating in a report on Wednesday, March 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.90.

In related news, Director Gayle A. Crowell purchased 2,238 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were bought at an average cost of $37.50 per share, for a total transaction of $83,925.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, President William Crager sold 2,500 shares of the business’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $31.33, for a total transaction of $78,325.00. Following the sale, the president now owns 148,370 shares in the company, valued at $4,648,432.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 5,244 shares of company stock worth $186,312 and have sold 17,755 shares worth $579,847. 7.80% of the stock is currently owned by insiders.

Envestnet Company Profile

Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ENV”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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