Quantbot Technologies LP Acquires New Position in Envestnet, Inc. (NYSE:ENV)

Quantbot Technologies LP bought a new position in shares of Envestnet, Inc. (NYSE:ENV) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,428 shares of the business services provider’s stock, valued at approximately $2,281,000. Quantbot Technologies LP owned about 0.07% of Envestnet as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENV. Innealta Capital LLC acquired a new position in shares of Envestnet during the 2nd quarter valued at about $46,000. Longfellow Investment Management Co. LLC acquired a new position in Envestnet during the third quarter worth approximately $71,000. Quest Partners LLC raised its stake in Envestnet by 6,220.8% during the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock worth $95,000 after purchasing an additional 1,493 shares during the period. SG Americas Securities LLC boosted its holdings 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 purchasing an additional 945 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings 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 purchasing an additional 1,200 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com initiated coverage on Envestnet in a research report on Thursday. They issued a “sell” rating on the stock. DA Davidson restated a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. One investment 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’s stock. According to MarketBeat.com, Envestnet has a consensus rating of “Hold” and an average target price of $61.88.

Envestnet Stock Performance

NYSE:ENV opened at $63.14 on Friday. The business’s 50-day moving average is $62.80 and its two-hundred day moving average is $63.06. The firm has a market capitalization of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25. Envestnet, Inc. has a 12 month low of $36.43 and a 12 month high of $73.04. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.59.

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.