State of New Jersey Common Pension Fund D Acquires 4,218 Shares of Envestnet, Inc. (NYSE:ENV)

State of New Jersey Common Pension Fund D lifted its stake in Envestnet, Inc. (NYSE:ENV) by 15.4% during the third quarter, HoldingsChannel.com reports. The firm owned 31,581 shares of the business services provider’s stock after purchasing an additional 4,218 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Envestnet were worth $1,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENV. Arizona State Retirement System increased its holdings in Envestnet by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 11,552 shares of the business services provider’s stock worth $723,000 after buying an additional 286 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Envestnet by 8.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,803 shares of the business services provider’s stock worth $363,000 after acquiring an additional 439 shares during the last quarter. Natixis grew its stake in shares of Envestnet by 12.9% in the 1st quarter. Natixis now owns 4,767 shares of the business services provider’s stock worth $276,000 after buying an additional 544 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Envestnet by 2.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider’s stock valued at $1,577,000 after purchasing an additional 600 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position in shares of Envestnet by 9.2% during the second quarter. Benjamin Edwards Inc. now owns 7,781 shares of the business services provider’s stock valued at $487,000 after buying an additional 658 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ENV. StockNews.com initiated coverage on Envestnet in a research note on Tuesday, November 12th. They issued a “sell” rating on the stock. DA Davidson reiterated a “neutral” rating and set a $63.00 target price on shares of Envestnet in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.88.

Envestnet Price Performance

Shares of ENV opened at $62.94 on Monday. The company has a 50 day moving average of $62.72 and a two-hundred day moving average of $63.11. The company has a market cap of $3.48 billion, a price-to-earnings ratio of -13.19 and a beta of 1.25. The company has a quick ratio of 1.14, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. Envestnet, Inc. has a twelve month low of $36.01 and a twelve month high of $73.04.

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.