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

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

Other research analysts have also recently issued reports about the stock. William Blair reiterated a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. Raymond James lowered Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. DA Davidson reissued a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a research note on Wednesday, September 18th. Finally, UBS Group reaffirmed a “neutral” rating and set a $63.15 target price (down previously from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Envestnet presently has a consensus rating of “Hold” and an average price target of $61.88.

Envestnet Stock Performance

Shares of NYSE ENV opened at $62.81 on Monday. Envestnet has a 12-month low of $33.12 and a 12-month high of $73.04. The company has a market cap of $3.47 billion, a PE ratio of -13.62 and a beta of 1.25. The stock has a 50 day simple moving average of $62.70 and a 200-day simple moving average of $63.07. 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 released its quarterly 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). The business had revenue of $348.30 million during the quarter, compared to the consensus estimate of $342.90 million. Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. On average, equities research analysts forecast that Envestnet will post 1.71 EPS for the current year.

Institutional Trading of Envestnet

Several institutional investors and hedge funds have recently bought and sold shares of ENV. Arizona State Retirement System increased its position in shares of Envestnet by 2.5% in the second quarter. Arizona State Retirement System now owns 11,552 shares of the business services provider’s stock worth $723,000 after acquiring an additional 286 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Envestnet by 8.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,803 shares of the business services provider’s stock valued at $363,000 after purchasing an additional 439 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Envestnet by 2.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider’s stock valued at $1,633,000 after purchasing an additional 543 shares in the last quarter. Natixis boosted its position in shares of Envestnet by 12.9% in the first quarter. Natixis now owns 4,767 shares of the business services provider’s stock worth $276,000 after buying an additional 544 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Envestnet by 2.4% during the second quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider’s stock valued at $1,577,000 after buying an additional 600 shares in 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.