Public Sector Pension Investment Board Reduces Stock Holdings in Envestnet, Inc. (NYSE:ENV)

Public Sector Pension Investment Board cut its holdings in Envestnet, Inc. (NYSE:ENV) by 3.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 106,647 shares of the business services provider’s stock after selling 3,700 shares during the quarter. Public Sector Pension Investment Board owned about 0.19% of Envestnet worth $6,678,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ENV. Engaged Capital LLC increased its holdings in shares of 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 acquiring an additional 573,049 shares in the last quarter. Alpine Associates Management Inc. acquired a new position in Envestnet during the 3rd quarter valued at approximately $25,205,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in Envestnet during the 3rd quarter valued at approximately $8,472,000. Boussard & Gavaudan Investment Management LLP purchased a new position in shares of Envestnet in the third quarter worth $5,546,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of 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 worth $65,057,000 after buying an additional 73,751 shares during the period.

Envestnet Price Performance

Shares of ENV opened at $63.14 on Friday. The business’s 50-day moving average is $62.81 and its two-hundred day moving average is $63.02. The company has a market capitalization of $3.49 billion, a P/E ratio of -13.24 and a beta of 1.25. Envestnet, Inc. has a fifty-two week low of $36.43 and a fifty-two week high of $73.04. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.59 and a current ratio of 0.59.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports 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 reissued a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently 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.