Cornercap Investment Counsel Inc. Lowers Position in Envestnet, Inc. (NYSE:ENV)

Cornercap Investment Counsel Inc. lessened its position in Envestnet, Inc. (NYSE:ENV) by 51.0% in the third quarter, HoldingsChannel reports. The firm owned 4,690 shares of the business services provider’s stock after selling 4,890 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Envestnet were worth $294,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Envestnet by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider’s stock valued at $353,166,000 after purchasing an additional 83,081 shares during the period. Impactive Capital LP raised its stake in Envestnet by 0.8% during the first quarter. Impactive Capital LP now owns 4,183,865 shares of the business services provider’s stock valued at $242,288,000 after buying an additional 32,832 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 buying an additional 73,751 shares during the last quarter. Geneva Capital Management LLC raised its stake in Envestnet by 0.5% during the third quarter. Geneva Capital Management LLC now owns 863,398 shares of the business services provider’s stock valued at $54,066,000 after buying an additional 4,042 shares during the last quarter. Finally, Engaged Capital LLC raised its stake 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 buying an additional 573,049 shares during the last quarter.

Envestnet Stock Down 0.0 %

Envestnet stock opened at $62.94 on Monday. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -13.19 and a beta of 1.25. The stock has a fifty day simple moving average of $62.72 and a two-hundred day simple moving average of $63.11. Envestnet, Inc. has a 12 month low of $36.01 and a 12 month high of $73.04. The company has a current ratio of 0.59, a quick ratio of 1.14 and a debt-to-equity ratio of 1.07.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. DA Davidson reiterated a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a research note on Wednesday, September 18th. StockNews.com assumed coverage on Envestnet in a research note on Tuesday, November 12th. They set a “sell” rating for the company. One 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, Envestnet presently has a consensus rating of “Hold” and an average 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.