Envestnet, Inc. (NYSE:ENV) Receives Average Rating of “Hold” from Analysts

Shares of Envestnet, Inc. (NYSE:ENV) have been given an average recommendation of “Hold” by the eight research firms that are currently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $61.88.

A number of brokerages have commented on ENV. DA Davidson reissued a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. UBS Group reissued 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. StockNews.com initiated coverage on shares of Envestnet in a research report on Tuesday. They issued a “sell” rating for the company. Finally, Raymond James lowered Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

Envestnet Price Performance

Shares of ENV stock opened at $62.92 on Wednesday. Envestnet has a 52 week low of $33.12 and a 52 week high of $73.04. The stock has a market capitalization of $3.48 billion, a PE ratio of -13.19 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. The stock’s fifty day moving average is $62.72 and its 200-day moving average is $63.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its holdings in Envestnet by 45.0% in the first 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 purchasing an additional 48,057 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of Envestnet during the 1st quarter worth about $762,000. Natixis Advisors LLC bought a new stake in shares of Envestnet in the 2nd quarter valued at about $718,000. Dimensional Fund Advisors LP raised its position 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 acquiring an additional 73,751 shares during the period. Finally, ClariVest Asset Management LLC bought a new position in Envestnet during the 2nd quarter worth approximately $2,482,000.

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.