Envestnet (NYSE:ENV) Receives New Coverage from Analysts at StockNews.com

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

A number of other research analysts also recently commented on the stock. DA Davidson downgraded shares of Envestnet from a buy rating to a neutral rating and reduced their price objective for the company from $78.00 to $63.00 in a research note on Thursday, July 18th. Raymond James downgraded shares of Envestnet from a moderate buy rating to a hold rating in a research note on Wednesday, July 17th. William Blair reiterated a market perform rating on shares of Envestnet in a research note on Thursday, July 11th. Finally, UBS Group restated a neutral rating and issued a $63.15 price target (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $61.88.

Envestnet Price Performance

ENV opened at $62.65 on Tuesday. The company has a fifty day simple moving average of $62.31 and a 200 day simple moving average of $61.61. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -17.60 and a beta of 1.25. Envestnet has a twelve month low of $33.12 and a twelve month high of $73.04. 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 (NYSE:ENV) last posted its quarterly earnings data on Friday, August 9th. The business services provider reported $0.55 EPS 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 for the quarter, compared to the consensus estimate of $342.90 million. During the same quarter last year, the company earned $0.22 earnings per share. The company’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts expect that Envestnet will post 1.71 EPS for the current fiscal year.

Institutional Trading of Envestnet

Hedge funds have recently bought and sold shares of the company. YHB Investment Advisors Inc. bought a new stake in Envestnet in the 1st quarter valued at about $38,000. Innealta Capital LLC bought a new stake in Envestnet in the 2nd quarter valued at about $46,000. Quest Partners LLC bought a new stake in Envestnet in the 4th quarter valued at about $58,000. SG Americas Securities LLC bought a new stake in Envestnet in the 1st quarter valued at about $168,000. Finally, Federated Hermes Inc. lifted its position in Envestnet by 80.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 1,200 shares during the last quarter.

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.