Victory Capital Management Inc. Sells 429 Shares of Envestnet, Inc. (NYSE:ENV)

Victory Capital Management Inc. cut its holdings in shares of Envestnet, Inc. (NYSE:ENV) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,265 shares of the business services provider’s stock after selling 429 shares during the quarter. Victory Capital Management Inc.’s holdings in Envestnet were worth $643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Engaged Capital LLC increased its stake in Envestnet by 479.8% during the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after acquiring an additional 573,049 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Envestnet by 7.6% in 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. Price T Rowe Associates Inc. MD raised its stake in Envestnet by 45.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock valued at $8,968,000 after purchasing an additional 48,057 shares in the last quarter. ClariVest Asset Management LLC bought a new stake in Envestnet during the second quarter worth about $2,482,000. Finally, Mutual of America Capital Management LLC grew its stake in Envestnet by 382.3% during the second quarter. Mutual of America Capital Management LLC now owns 41,330 shares of the business services provider’s stock worth $2,587,000 after buying an additional 32,761 shares in the last quarter.

Envestnet Price Performance

Shares of NYSE:ENV opened at $63.14 on Friday. The firm has a 50 day simple moving average of $62.80 and a 200 day simple moving average of $63.06. The company has a market cap of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25. Envestnet, Inc. has a one year low of $36.43 and a one year high of $73.04. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.59.

Analyst Ratings Changes

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

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.