Quantbot Technologies LP Invests $2.28 Million in Envestnet, Inc. (NYSE:ENV)

Quantbot Technologies LP purchased a new stake in shares of Envestnet, Inc. (NYSE:ENV - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 36,428 shares of the business services provider's stock, valued at approximately $2,281,000. Quantbot Technologies LP owned approximately 0.07% of Envestnet at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC bought a new stake in Envestnet during the first quarter valued at about $228,000. Price T Rowe Associates Inc. MD raised its stake in Envestnet by 45.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider's stock valued at $8,968,000 after purchasing an additional 48,057 shares during the period. Cetera Advisors LLC bought a new stake in Envestnet during the 1st quarter valued at approximately $222,000. Harbor Capital Advisors Inc. lifted its holdings in Envestnet by 318.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 25,956 shares of the business services provider's stock worth $1,625,000 after purchasing an additional 19,749 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in Envestnet by 13.6% in the 2nd quarter. Raymond James & Associates now owns 25,886 shares of the business services provider's stock worth $1,620,000 after purchasing an additional 3,092 shares during the period.

Envestnet Price Performance

Shares of ENV stock remained flat at $63.14 on Friday. The business has a 50 day moving average price of $62.80 and a two-hundred day moving average price of $63.06. Envestnet, Inc. has a 1-year low of $36.43 and a 1-year high of $73.04. The stock 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.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ENV shares. DA Davidson reiterated 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 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 given a buy rating to the company. Based on data from MarketBeat.com, Envestnet presently has a consensus rating of "Hold" and an average price target of $61.88.

Envestnet 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.