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

StockNews.com assumed coverage on shares of Envestnet (NYSE:ENV) in a research report released on Wednesday morning. The brokerage issued a sell rating on the business services provider’s stock.

Separately, DA Davidson reiterated 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 assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $61.88.

Envestnet Stock Performance

Shares of ENV stock opened at $63.14 on Wednesday. The firm has a market cap of $3.49 billion, a P/E ratio of -13.24 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.59. Envestnet has a fifty-two week low of $36.43 and a fifty-two week high of $73.04. The stock’s 50-day moving average is $62.76 and its two-hundred day moving average is $63.11.

Institutional Trading of Envestnet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in Envestnet by 45.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock worth $8,968,000 after buying an additional 48,057 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in Envestnet during the first quarter worth $762,000. Natixis Advisors LLC bought a new stake in Envestnet in the 2nd quarter valued at $718,000. Dimensional Fund Advisors LP raised 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 buying an additional 73,751 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new position in shares of Envestnet during the 2nd quarter worth about $2,482,000.

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.