Boussard & Gavaudan Investment Management LLP Makes New $5.55 Million Investment in Envestnet, Inc. (NYSE:ENV)

Boussard & Gavaudan Investment Management LLP purchased a new position in Envestnet, Inc. (NYSE:ENV) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 88,628 shares of the business services provider’s stock, valued at approximately $5,546,000.

A number of other hedge funds have also modified their holdings of the company. Innealta Capital LLC purchased a new position in shares of Envestnet in the second quarter worth $46,000. Longfellow Investment Management Co. LLC purchased a new position in shares of Envestnet in the third quarter worth $71,000. Quest Partners LLC lifted its holdings in shares of Envestnet by 6,220.8% in the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock worth $95,000 after buying an additional 1,493 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Envestnet by 54.2% in the third quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock worth $168,000 after buying an additional 945 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Envestnet by 80.0% in the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after buying an additional 1,200 shares in the last quarter.

Envestnet Stock Performance

Shares of ENV opened at $63.14 on Thursday. The company’s fifty day simple moving average is $62.80 and its 200-day simple moving average is $63.06. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. The company 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 twelve month low of $36.43 and a twelve month high of $73.04.

Wall Street Analysts Forecast Growth

ENV has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Envestnet in a report on Thursday. They issued a “sell” rating on the stock. DA Davidson reaffirmed a “neutral” rating and set a $63.00 price target on shares of Envestnet in a research note 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.