StockNews.com Begins Coverage on Envestnet (NYSE:ENV)

StockNews.com initiated coverage on shares of Envestnet (NYSE:ENV) in a research report report published on Saturday morning. The firm issued a sell rating on the business services provider’s stock.

Several other research firms also recently issued reports on ENV. Raymond James downgraded Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. DA Davidson reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Envestnet in a report on Wednesday, September 18th. William Blair restated a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. Finally, UBS Group reissued a “neutral” rating and set a $63.15 target price (down from $75.00) on shares of Envestnet in a research note 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.88.

Envestnet Price Performance

ENV stock opened at $62.75 on Friday. The firm has a market cap of $3.46 billion, a P/E ratio of -17.63 and a beta of 1.25. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current 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 50-day simple moving average of $62.69 and a 200-day simple moving average of $62.84.

Envestnet (NYSE:ENV) last issued its quarterly earnings data 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 negative net margin of 19.33% and a positive return on equity of 17.02%. The firm had revenue of $348.30 million during the quarter, compared to analyst estimates of $342.90 million. During the same period last year, the business earned $0.22 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. On average, equities analysts predict that Envestnet will post 1.71 earnings per share for the current fiscal year.

Institutional Trading of Envestnet

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Envestnet by 12.9% in the 4th quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock worth $297,885,000 after purchasing an additional 687,202 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Envestnet in the fourth quarter worth approximately $236,000. Nomura Holdings Inc. bought a new position in shares of Envestnet in the fourth quarter valued at $432,000. Argent Capital Management LLC lifted its position in shares of Envestnet by 14.6% during the 1st quarter. Argent Capital Management LLC now owns 6,338 shares of the business services provider’s stock valued at $367,000 after acquiring an additional 806 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its position in shares of Envestnet by 1.6% during the 1st quarter. Geneva Capital Management LLC now owns 1,070,976 shares of the business services provider’s stock valued at $62,020,000 after acquiring an additional 16,666 shares during the last quarter.

Envestnet Company Profile

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.