Brown Capital Management LLC Decreases Holdings in Envestnet, Inc. (NYSE:ENV)

Brown Capital Management LLC decreased its holdings in Envestnet, Inc. (NYSE:ENV) by 75.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,867 shares of the business services provider’s stock after selling 12,027 shares during the period. Brown Capital Management LLC’s holdings in Envestnet were worth $242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ENV. Intech Investment Management LLC purchased a new position in Envestnet in the 3rd quarter worth approximately $1,009,000. Alpine Associates Management Inc. bought a new position in shares of Envestnet in the third quarter worth approximately $25,205,000. LMR Partners LLP purchased a new position in shares of Envestnet in the third quarter worth $643,000. Quest Partners LLC raised its holdings in Envestnet by 2,100.6% during the 3rd quarter. Quest Partners LLC now owns 33,383 shares of the business services provider’s stock valued at $2,090,000 after buying an additional 31,866 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in Envestnet during the 3rd quarter valued at $8,472,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. DA Davidson reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a research note on Wednesday, September 18th. StockNews.com assumed coverage on Envestnet in a report on Wednesday. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.88.

Envestnet Price Performance

Shares of Envestnet stock opened at $63.09 on Thursday. Envestnet, Inc. has a 52-week low of $36.43 and a 52-week high of $73.04. The company has a 50-day simple moving average of $62.74 and a two-hundred day simple moving average of $63.11. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.07.

Envestnet Company 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.