Intech Investment Management LLC Buys New Stake in Envestnet, Inc. (NYSE:ENV)

Intech Investment Management LLC purchased a new stake in Envestnet, Inc. (NYSE:ENV - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,114 shares of the business services provider's stock, valued at approximately $1,009,000.

Other hedge funds have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Envestnet in the 2nd quarter valued at approximately $46,000. Quest Partners LLC lifted its position in shares of Envestnet by 6,220.8% in the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider's stock valued at $95,000 after acquiring an additional 1,493 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Envestnet by 54.2% in the 3rd quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider's stock valued at $168,000 after acquiring an additional 945 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Envestnet by 80.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider's stock valued at $169,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of Envestnet in the 2nd quarter valued at approximately $191,000.

Envestnet Price Performance

Shares of ENV remained flat at $63.14 during mid-day trading on Thursday. Envestnet, Inc. has a twelve month low of $36.43 and a twelve month high of $73.04. The firm's 50-day simple moving average is $62.80 and its two-hundred day simple moving average is $63.06. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Envestnet in a research note on Thursday. They issued a "sell" rating on the stock. DA Davidson reiterated a "neutral" rating and issued a $63.00 price objective on shares of Envestnet in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $61.88.

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.