Summit Creek Advisors Lowers stake in Envestnet Inc (ENV)

Envestnet Inc (ENV) : Summit Creek Advisors reduced its stake in Envestnet Inc by 6.3% during the most recent quarter end. The investment management company now holds a total of 512,666 shares of Envestnet Inc which is valued at $19,019,909 after selling 34,446 shares in Envestnet Inc , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Envestnet Inc makes up approximately 3.09% of Summit Creek Advisors’s portfolio.

Other Hedge Funds, Including , Van Berkom Associates boosted its stake in ENV in the latest quarter, The investment management firm added 358,661 additional shares and now holds a total of 736,303 shares of Envestnet Inc which is valued at $27,316,841. Envestnet Inc makes up approx 1.19% of Van Berkom Associates’s portfolio.Simplex Trading boosted its stake in ENV in the latest quarter, The investment management firm added 383 additional shares and now holds a total of 2,281 shares of Envestnet Inc which is valued at $84,876. Envestnet Inc makes up approx 0.01% of Simplex Trading’s portfolio.Creative Planning reduced its stake in ENV by selling 1,315 shares or 88.67% in the most recent quarter. The Hedge Fund company now holds 168 shares of ENV which is valued at $6,107.

Envestnet Inc opened for trading at $37.12 and hit $37.47 on the upside on Wednesday, eventually ending the session at $37.21, with a gain of 0.70% or 0.26 points. The heightened volatility saw the trading volume jump to 2,12,711 shares. Company has a market cap of $1,589 M.

On the company’s financial health, Envestnet Inc reported $0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.15. The company had revenue of $132.00 million for the quarter, compared to analysts expectations of $131.84 million. The company’s revenue was up 36.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

Many Wall Street Analysts have commented on Envestnet Inc. Company shares were Upgraded by UBS on Jun 2, 2016 to ” Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $33 .Company shares were Reiterated by RBC Capital Mkts on May 9, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 33 from a previous price target of $26 .

Envestnet Inc. (Envestnet) provides wealth management software and services to financial advisors and institutions. The Company works with Independent Registered Investment Advisors and advisors associated with financial institutions. The Company’s technology platform services include risk assessment and selection of investment strategies and solutions asset allocation models research and due diligence portfolio construction proposal generation and paperwork preparation model management and account rebalancing account monitoring customized fee billing overlay services covering asset allocation tax management and socially responsible investing aggregated multi-custodian performance reporting and communication tools as well as access to a wide range of leading third-party asset custodians. The product and services of the Company include: Envestnet’s wealth management software Envestnet PMC Envestnet Tamarac Vantage Reporting Solution Envestnet WMS and Envestnet Placemark.

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