William Blair Reiterates Outperform On Envestnet Following Acquisition Of Placemark Holdings


In a research note released Wednesday, William Blair analyst Christopher Shutler reiterated coverage on Envestnet, Inc. (ENV) with a Buy rating following the news that Envestnet has entered a definitive agreement to acquire Placemark Holdings, Inc. for $66 million in cash. Placemark is a provider of Unified Management Account (UMA) programs and portfolio management outsourcing solutions, primarily for bank and independent broker-dealers, and had about $14 billion of UMA assets under management as of March 31.

Shutler noted, “Envestnet announced it has entered a definitive agreement to acquire Placemark Holdings, Inc. for $66 million in cash. Placemark is a provider of Unified Management Account (UMA) programs and portfolio management outsourcing solutions, primarily for bank and independent broker-dealers, and had about $14 billion of UMA assets under management as of March 31”.

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