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

Stock analysts at StockNews.com began coverage on shares of Envestnet (NYSE:ENV) in a research report issued to clients and investors on Thursday. The brokerage set a “sell” rating on the business services provider’s stock.

Separately, DA Davidson reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Envestnet in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.88.

Envestnet Price Performance

Envestnet stock opened at $63.14 on Thursday. The firm has a market capitalization of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25. Envestnet has a 52 week low of $36.43 and a 52 week high of $73.04. The firm’s 50-day simple moving average is $62.81 and its 200 day simple moving average is $63.04. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.07.

Institutional Investors Weigh In On Envestnet

Several hedge funds have recently modified their holdings of ENV. Geode Capital Management LLC lifted its stake in shares of Envestnet by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,134,530 shares of the business services provider’s stock valued at $71,058,000 after buying an additional 9,735 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Envestnet by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock worth $65,057,000 after purchasing an additional 73,751 shares during the period. Geneva Capital Management LLC lifted its stake in shares of Envestnet by 0.5% during the 3rd quarter. Geneva Capital Management LLC now owns 863,398 shares of the business services provider’s stock worth $54,066,000 after purchasing an additional 4,042 shares during the period. Westchester Capital Management LLC purchased a new stake in shares of Envestnet in the third quarter valued at $45,746,000. Finally, Engaged Capital LLC increased its stake in Envestnet by 479.8% in the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock valued at $43,343,000 after purchasing an additional 573,049 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.