730,537 Shares in Envestnet, Inc. (NYSE:ENV) Bought by Westchester Capital Management LLC

Westchester Capital Management LLC bought a new position in shares of Envestnet, Inc. (NYSE:ENV) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 730,537 shares of the business services provider’s stock, valued at approximately $45,746,000. Envestnet accounts for about 2.0% of Westchester Capital Management LLC’s investment portfolio, making the stock its 13th biggest position.

Other large investors have also bought and sold shares of the company. Engaged Capital LLC raised its stake in Envestnet by 479.8% during the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after buying an additional 573,049 shares during the last quarter. Alpine Associates Management Inc. bought a new position in shares of Envestnet in the 3rd quarter worth about $25,205,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Envestnet in the 3rd quarter valued at about $8,472,000. Boussard & Gavaudan Investment Management LLP bought a new stake in shares of Envestnet during the 3rd quarter valued at about $5,546,000. Finally, Dimensional Fund Advisors LP grew its stake in 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 purchasing an additional 73,751 shares during the period.

Analysts Set New Price Targets

ENV has been the subject of several recent analyst reports. StockNews.com started coverage on shares of Envestnet in a research report on Thursday. They set a “sell” rating for the company. DA Davidson restated a “neutral” rating and issued a $63.00 price target on shares of Envestnet in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.88.

Envestnet Price Performance

Envestnet stock opened at $63.14 on Friday. The company’s 50 day moving average price is $62.81 and its two-hundred day moving average price is $63.04. The stock has a market cap of $3.49 billion, a P/E ratio of -13.24 and a beta of 1.25. Envestnet, Inc. has a 52 week low of $36.43 and a 52 week high of $73.04. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.07.

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.