Envestnet (NYSE:ENV) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Envestnet (NYSE:ENV) in a research note released on Monday morning. The brokerage issued a sell rating on the business services provider’s stock.

Other analysts have also issued reports about the stock. DA Davidson reiterated a “neutral” rating and set a $63.00 target price on shares of Envestnet in a research report on Wednesday, September 18th. Raymond James cut Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. UBS Group reissued a “neutral” rating and set a $63.15 price target (down from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. Finally, William Blair reiterated a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.88.

Envestnet Price Performance

NYSE ENV opened at $62.88 on Monday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70. Envestnet has a 1 year low of $33.12 and a 1 year high of $73.04. The company has a fifty day simple moving average of $62.70 and a 200 day simple moving average of $63.07. The company has a market cap of $3.47 billion, a P/E ratio of -13.64 and a beta of 1.25.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The company had revenue of $348.30 million during the quarter, compared to the consensus estimate of $342.90 million. During the same period last year, the company earned $0.22 earnings per share. Envestnet’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, sell-side analysts predict that Envestnet will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Envestnet

Several institutional investors have recently modified their holdings of ENV. Innealta Capital LLC bought a new position in Envestnet in the second quarter valued at approximately $46,000. Quest Partners LLC lifted its position in Envestnet by 6,220.8% in the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 1,493 shares in the last quarter. SG Americas Securities LLC lifted its position in Envestnet by 54.2% in the 3rd quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock valued at $168,000 after acquiring an additional 945 shares in the last quarter. Federated Hermes Inc. boosted its stake in Envestnet by 80.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after purchasing an additional 1,200 shares during the period. Finally, Summit Securities Group LLC bought a new position in Envestnet during the 2nd quarter worth about $191,000.

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.