Envestnet, Inc. (NYSE:ENV) Stock Holdings Increased by Algert Global LLC

Algert Global LLC lifted its stake in Envestnet, Inc. (NYSE:ENV) by 455.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,071 shares of the business services provider’s stock after purchasing an additional 18,917 shares during the quarter. Algert Global LLC’s holdings in Envestnet were worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Envestnet by 45.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock worth $8,968,000 after purchasing an additional 48,057 shares in the last quarter. Natixis Advisors LLC bought a new position in Envestnet during the second quarter valued at approximately $718,000. Dimensional Fund Advisors LP raised its position in Envestnet by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock valued at $65,057,000 after acquiring an additional 73,751 shares in the last quarter. ClariVest Asset Management LLC bought a new position in Envestnet during the second quarter valued at approximately $2,482,000. Finally, Engaged Capital LLC raised its position in Envestnet by 479.8% during the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock valued at $43,343,000 after acquiring an additional 573,049 shares in the last quarter.

Envestnet Stock Performance

Shares of Envestnet stock opened at $63.14 on Friday. The company’s fifty day simple moving average is $62.80 and its 200-day simple moving average is $63.06. The company has a market cap of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. Envestnet, Inc. has a 1 year low of $36.43 and a 1 year high of $73.04.

Wall Street Analysts Forecast Growth

ENV has been the topic of several recent research reports. DA Davidson reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a research report on Wednesday, September 18th. StockNews.com initiated coverage on shares of Envestnet in a research report on Thursday. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Envestnet has an average rating of “Hold” and a consensus target price of $61.88.

About Envestnet

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.