Van Berkom Associates adds Envestnet Inc (ENV) to its portfolio

Envestnet Inc (ENV) : Van Berkom Associates added new position in Envestnet Inc during the most recent quarter end. The investment management firm now holds 377,642 shares of Envestnet Inc which is valued at $11,793,760 , the company said in a statement filed on Apr 21, 2016 with the SEC.Envestnet Inc makes up approximately 0.53% of Van Berkom Associates’s portfolio.

Envestnet Inc opened for trading at $31.24 and hit $31.36 on the upside on Wednesday, eventually ending the session at $31.29, with a gain of 0.26% or 0.08 points. The heightened volatility saw the trading volume jump to 1,91,784 shares. Company has a market cap of $1,314 M.

Other Hedge Funds, Including , Summit Creek Advisors boosted its stake in ENV in the latest quarter, The investment management firm added 155,091 additional shares and now holds a total of 547,112 shares of Envestnet Inc which is valued at $17,086,308. Envestnet Inc makes up approx 2.64% of Summit Creek Advisors’s portfolio. Simplex Trading added ENV to its portfolio by purchasing 1,898 company shares during the most recent quarter which is valued at $58,307. Envestnet Inc makes up approx 0.01% of Simplex Trading’s portfolio.Manning Napier Advisors boosted its stake in ENV in the latest quarter, The investment management firm added 43,580 additional shares and now holds a total of 596,370 shares of Envestnet Inc which is valued at $18,320,486. Envestnet Inc makes up approx 0.11% of Manning Napier Advisors’s portfolio.Capital Impact Advisors boosted its stake in ENV in the latest quarter, The investment management firm added 12,880 additional shares and now holds a total of 32,275 shares of Envestnet Inc which is valued at $991,488. Envestnet Inc makes up approx 0.47% of Capital Impact Advisors’s portfolio.

On the company’s financial health, Envestnet Inc reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $0.23. The company had revenue of $118.60 million for the quarter, compared to analysts expectations of $117.29 million. The company’s revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Many Wall Street Analysts have commented on Envestnet Inc. Shares were Reiterated by Stifel on Apr 8, 2016 to “Buy” and Lowered the Price Target to $ 40 from a previous price target of $56 .Jefferies Initiated Envestnet Inc on Mar 24, 2016 to “Buy”, Price Target of the shares are set at $48.

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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