ClearAlpha Technologies LP Invests $2.13 Million in Envestnet, Inc. (NYSE:ENV)

ClearAlpha Technologies LP purchased a new stake in Envestnet, Inc. (NYSE:ENV) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 33,973 shares of the business services provider’s stock, valued at approximately $2,127,000. Envestnet comprises 0.6% of ClearAlpha Technologies LP’s portfolio, making the stock its 25th largest holding. ClearAlpha Technologies LP owned 0.06% of Envestnet at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Envestnet by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock valued at $65,057,000 after purchasing an additional 73,751 shares during the last quarter. Geneva Capital Management LLC boosted its stake in Envestnet by 0.5% in 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 acquiring an additional 4,042 shares during the last quarter. Westchester Capital Management LLC acquired a new stake in Envestnet during the 3rd quarter worth $45,746,000. Engaged Capital LLC raised its position in shares of Envestnet by 479.8% during the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock valued at $43,343,000 after acquiring an additional 573,049 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Envestnet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 554,309 shares of the business services provider’s stock valued at $34,711,000 after purchasing an additional 7,607 shares during the period.

Envestnet Stock Up 0.1 %

Envestnet stock opened at $63.14 on Monday. Envestnet, Inc. has a twelve month low of $36.43 and a twelve month high of $73.04. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average of $62.81 and a 200-day moving average of $62.99. The stock has a market capitalization of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ENV. StockNews.com started coverage on Envestnet in a report on Thursday. They issued a “sell” rating for the company. DA Davidson reiterated a “neutral” rating and issued a $63.00 price target on shares of Envestnet in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently 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.