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

Stock analysts at StockNews.com started coverage on shares of Envestnet (NYSE:ENV) in a research note issued on Sunday. The firm set a “sell” rating on the business services provider’s stock.

Several other research analysts have also recently issued reports on the stock. DA Davidson reiterated a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. UBS Group reaffirmed 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. Raymond James downgraded Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, William Blair reaffirmed a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Envestnet has a consensus rating of “Hold” and an average target price of $61.88.

Envestnet Stock Down 0.0 %

ENV opened at $62.73 on Friday. The stock’s 50 day moving average price is $62.70 and its 200 day moving average price is $62.95. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $3.46 billion, a P/E ratio of -17.62 and a beta of 1.25. Envestnet has a 12 month low of $33.12 and a 12 month high of $73.04.

Envestnet (NYSE:ENV) last issued its quarterly earnings results 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). The business had revenue of $348.30 million for the quarter, compared to analyst estimates of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. Envestnet’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the business posted $0.22 earnings per share. As a group, research analysts predict that Envestnet will post 1.71 earnings per share for the current year.

Hedge Funds Weigh In On Envestnet

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Envestnet by 45.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock valued at $8,968,000 after buying an additional 48,057 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in Envestnet in the first quarter worth approximately $762,000. Vanguard Group Inc. increased its stake in shares of Envestnet by 12.9% during 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 during the last quarter. Natixis Advisors LLC bought a new position in shares of Envestnet during the 2nd quarter valued at $718,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Envestnet by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock valued at $65,057,000 after purchasing an additional 73,751 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.