Algert Global LLC bought a new position in Envestnet, Inc. (NYSE:ENV – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 4,154 shares of the business services provider’s stock, valued at approximately $260,000.
A number of other large investors have also recently added to or reduced their stakes in ENV. Select Equity Group L.P. lifted its position in Envestnet by 25.5% during the 2nd quarter. Select Equity Group L.P. now owns 15,458 shares of the business services provider’s stock worth $968,000 after acquiring an additional 3,138 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Envestnet in the second quarter worth about $212,000. The Manufacturers Life Insurance Company lifted its position in shares of Envestnet by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,643 shares of the business services provider’s stock worth $1,855,000 after purchasing an additional 1,051 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Envestnet during the 2nd quarter valued at approximately $434,000. Finally, Engaged Capital LLC grew its holdings in Envestnet by 479.8% in the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock valued at $43,343,000 after buying an additional 573,049 shares during the last quarter.
Envestnet Price Performance
Shares of Envestnet stock opened at $62.64 on Thursday. Envestnet, Inc. has a twelve month low of $33.12 and a twelve month high of $73.04. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $3.45 billion, a P/E ratio of -17.60 and a beta of 1.25. The firm’s 50-day simple moving average is $62.57 and its 200-day simple moving average is $62.50.
Wall Street Analyst Weigh In
ENV has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Envestnet in a report on Thursday, October 3rd. They set a “sell” rating for the company. UBS Group reiterated a “neutral” rating and set a $63.15 target price (down from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. William Blair reaffirmed a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. Finally, DA Davidson reissued a “neutral” rating and set a $63.00 target price on shares of Envestnet in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Envestnet presently has a consensus rating of “Hold” and a consensus target price of $61.88.
Read Our Latest Stock Report on ENV
Envestnet Company Profile
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.
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