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

Geneva Capital Management LLC grew its stake in Envestnet, Inc. (NYSE:ENV) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 863,398 shares of the business services provider’s stock after acquiring an additional 4,042 shares during the period. Geneva Capital Management LLC’s holdings in Envestnet were worth $54,066,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ENV. Price T Rowe Associates Inc. MD raised its holdings in shares of Envestnet by 45.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock valued at $8,968,000 after acquiring an additional 48,057 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Envestnet in the 1st quarter valued at about $762,000. Natixis Advisors LLC bought a new stake in shares of Envestnet in the 2nd quarter valued at about $718,000. Dimensional Fund Advisors LP lifted its position 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 worth $65,057,000 after purchasing an additional 73,751 shares during the period. Finally, ClariVest Asset Management LLC bought a new position in shares of Envestnet during the second quarter valued at approximately $2,482,000.

Envestnet Stock Down 0.1 %

Shares of ENV stock opened at $62.92 on Wednesday. The stock’s fifty day moving average price is $62.72 and its 200 day moving average price is $63.10. Envestnet, Inc. has a 1-year low of $33.12 and a 1-year high of $73.04. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.14 and a current ratio of 0.59.

Analyst Upgrades and Downgrades

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