Envestnet (NYSE:ENV) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Envestnet (NYSE:ENV) in a research note issued to investors on Tuesday. The firm issued a sell rating on the business services provider’s stock.

Several other equities analysts have also issued reports on the company. DA Davidson reissued a “neutral” rating and issued a $63.00 price target on shares of Envestnet in a research note on Wednesday, September 18th. UBS Group reaffirmed a “neutral” rating and issued a $63.15 price objective (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. Finally, Raymond James downgraded shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Envestnet currently has an average rating of “Hold” and an average target price of $61.88.

Envestnet Price Performance

ENV stock opened at $62.94 on Tuesday. The company has a market capitalization of $3.48 billion, a P/E ratio of -13.19 and a beta of 1.25. The company has a fifty day moving average price of $62.72 and a 200-day moving average price of $63.10. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.14 and a current ratio of 0.59. Envestnet has a 52-week low of $36.01 and a 52-week high of $73.04.

Institutional Trading of Envestnet

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MML Investors Services LLC raised its position in shares of Envestnet by 11.9% during the 3rd quarter. MML Investors Services LLC now owns 31,290 shares of the business services provider’s stock valued at $1,959,000 after buying an additional 3,319 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Envestnet by 337.4% during the 3rd quarter. XTX Topco Ltd now owns 23,108 shares of the business services provider’s stock valued at $1,447,000 after purchasing an additional 17,825 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Envestnet by 5.9% during the 3rd quarter. Jane Street Group LLC now owns 77,892 shares of the business services provider’s stock valued at $4,878,000 after purchasing an additional 4,324 shares during the last quarter. Centiva Capital LP bought a new position in shares of Envestnet during the 3rd quarter valued at $6,957,000. Finally, Cinctive Capital Management LP bought a new position in shares of Envestnet during the 3rd quarter valued at $1,267,000.

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.