Envestnet (NYSE:ENV) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Envestnet (NYSE:ENV) in a report issued on Thursday. The brokerage set a “sell” rating on the business services provider’s stock.

ENV has been the subject of a number of other reports. UBS Group reiterated a “neutral” rating and set a $63.15 target price (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Raymond James cut 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 report on Thursday, July 11th. Finally, DA Davidson restated a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $61.88.

Envestnet Stock Performance

Shares of ENV stock opened at $62.59 on Thursday. The business has a 50-day moving average of $62.49 and a 200 day moving average of $62.26. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14. Envestnet has a 1-year low of $33.12 and a 1-year high of $73.04. The stock has a market capitalization of $3.45 billion, a PE ratio of -17.58 and a beta of 1.25.

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

Institutional Trading of Envestnet

A number of hedge funds have recently made changes to their positions in the stock. YHB Investment Advisors Inc. purchased a new stake in Envestnet during the 1st quarter valued at about $38,000. Innealta Capital LLC bought a new position in shares of Envestnet in the second quarter worth approximately $46,000. Quest Partners LLC grew its holdings in shares of Envestnet by 6,220.8% during the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock valued at $95,000 after buying an additional 1,493 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Envestnet during the first quarter valued at approximately $168,000. Finally, Federated Hermes Inc. raised its holdings 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 acquiring 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.