31,089 Shares in Envestnet, Inc. (NYSE:ENV) Bought by HighTower Advisors LLC

HighTower Advisors LLC bought a new position in Envestnet, Inc. (NYSE:ENV) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 31,089 shares of the business services provider’s stock, valued at approximately $2,362,000. HighTower Advisors LLC owned about 0.06% of Envestnet at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ENV. Marshall Wace LLP purchased a new position in Envestnet in the 1st quarter worth $50,000. First Trust Advisors LP raised its stake in Envestnet by 8.5% in the 1st quarter. First Trust Advisors LP now owns 55,508 shares of the business services provider’s stock worth $3,630,000 after acquiring an additional 4,339 shares during the last quarter. Comerica Bank raised its stake in Envestnet by 6.9% in the 1st quarter. Comerica Bank now owns 2,914 shares of the business services provider’s stock worth $212,000 after acquiring an additional 187 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in Envestnet by 28.9% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 163,537 shares of the business services provider’s stock worth $11,812,000 after acquiring an additional 36,712 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Envestnet by 0.7% during the 1st quarter. Alliancebernstein L.P. now owns 80,140 shares of the business services provider’s stock valued at $5,789,000 after buying an additional 570 shares during the last quarter.

Shares of Envestnet stock opened at $76.83 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.92. Envestnet, Inc. has a twelve month low of $61.00 and a twelve month high of $88.45. The business has a 50-day moving average price of $76.31 and a 200 day moving average price of $74.06. The firm has a market cap of $4.19 billion, a PE ratio of 274.39 and a beta of 1.29.

A number of research firms have weighed in on ENV. Raymond James lifted their price objective on Envestnet from $86.00 to $87.00 and gave the company a “strong-buy” rating in a research note on Friday, August 6th. Jefferies Financial Group lowered Envestnet from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $95.00 to $63.00 in a research note on Thursday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $81.67.

About Envestnet

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.

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Institutional Ownership by Quarter for Envestnet (NYSE:ENV)

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