FourThought Financial LLC Acquires 718 Shares of Envestnet, Inc. (NYSE:ENV)

FourThought Financial LLC boosted its position in Envestnet, Inc. (NYSE:ENV – Get Rating) by 51.5% in the third quarter, Holdings Channel.com reports. The firm owned 2,111 shares of the business services provider’s stock after purchasing an additional 718 shares during the quarter. FourThought Financial LLC’s holdings in Envestnet were worth $94,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENV. Raymond James Financial Services Advisors Inc. raised its stake in shares of Envestnet by 2.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,280 shares of the business services provider’s stock valued at $616,000 after acquiring an additional 198 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Envestnet by 8.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the business services provider’s stock worth $249,000 after buying an additional 267 shares during the period. Rhumbline Advisers grew its position in shares of Envestnet by 2.4% in the 1st quarter. Rhumbline Advisers now owns 152,849 shares of the business services provider’s stock valued at $11,378,000 after buying an additional 3,542 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Envestnet by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,026 shares of the business services provider’s stock valued at $1,491,000 after buying an additional 1,909 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in shares of Envestnet by 9.3% during the first quarter. Great West Life Assurance Co. Can now owns 29,683 shares of the business services provider’s stock worth $2,271,000 after acquiring an additional 2,517 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently commented on ENV. JPMorgan Chase & Co. upped their target price on Envestnet from $53.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, January 23rd. StockNews.com started coverage on shares of Envestnet in a research report on Thursday. They set a “sell” rating for the company. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price target on shares of Envestnet in a research report on Monday, March 13th. Raymond James downgraded Envestnet from a “strong-buy” rating to an “outperform” rating and increased their price target for the stock from $63.00 to $71.00 in a report on Friday, January 6th. Finally, Jefferies Financial Group boosted their price objective on Envestnet from $40.00 to $47.00 in a research note on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.63.

Envestnet Stock Down 1.7 %

Shares of NYSE ENV opened at $52.84 on Friday. The firm has a market cap of $2.85 billion, a PE ratio of -32.02 and a beta of 1.22. Envestnet, Inc. has a 12-month low of $41.72 and a 12-month high of $84.58. The company’s fifty day simple moving average is $63.61 and its 200 day simple moving average is $56.70. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.14.

Envestnet Profile

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Envestnet, Inc engages in the provision of intelligent systems for wealth management and financial wellness. It operates through the following segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment provides unified wealth management software and services to empower financial advisors and institutions.