Geneva Capital Management LLC Purchases 4,042 Shares of Envestnet, Inc. (NYSE:ENV)

Geneva Capital Management LLC raised its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 863,398 shares of the business services provider’s stock after acquiring an additional 4,042 shares during the quarter. Geneva Capital Management LLC owned approximately 1.56% of Envestnet worth $54,066,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Texas Permanent School Fund Corp lifted its holdings in shares of Envestnet by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 43,529 shares of the business services provider’s stock worth $2,521,000 after buying an additional 688 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Envestnet in the 1st quarter worth $168,000. ProShare Advisors LLC boosted its holdings in shares of Envestnet by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,095 shares of the business services provider’s stock valued at $585,000 after purchasing an additional 693 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Envestnet by 10.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 15,772 shares of the business services provider’s stock valued at $925,000 after purchasing an additional 1,460 shares in the last quarter. Finally, Garrison Point Advisors LLC bought a new stake in shares of Envestnet in the first quarter worth about $337,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. StockNews.com initiated coverage on Envestnet in a research note on Tuesday. They set a “sell” rating for the company. Raymond James downgraded shares of Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. UBS Group reissued a “neutral” rating and set a $63.15 price objective (down from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Envestnet presently has a consensus rating of “Hold” and a consensus price target of $61.88.

Envestnet Stock Performance

ENV opened at $62.92 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. The stock’s 50 day moving average price is $62.72 and its 200-day moving average price is $63.10. Envestnet, Inc. has a one year low of $33.12 and a one year high of $73.04.

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.