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

Analysts at StockNews.com began coverage on shares of Envestnet (NYSE:ENV) in a note issued to investors on Saturday. The firm set a “sell” rating on the business services provider’s stock.

Separately, DA Davidson restated a “neutral” rating and set a $63.00 price target on shares of Envestnet in a report on Wednesday, September 18th. One investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.88.

Envestnet Stock Performance

Shares of Envestnet stock opened at $63.14 on Friday. The business has a fifty day simple moving average of $62.93 and a two-hundred day simple moving average of $62.66. The firm has a market capitalization of $3.49 billion, a P/E ratio of -13.24 and a beta of 1.25. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. Envestnet has a 12 month low of $36.43 and a 12 month high of $73.04.

Hedge Funds Weigh In On Envestnet

Several large investors have recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in shares of Envestnet during the 2nd quarter worth about $46,000. Longfellow Investment Management Co. LLC purchased a new stake in Envestnet in the 3rd quarter worth about $71,000. Quest Partners LLC lifted its stake in Envestnet by 6,220.8% in the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock worth $95,000 after purchasing an additional 1,493 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Envestnet by 54.2% during the third quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock valued at $168,000 after buying an additional 945 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Envestnet by 80.0% during the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after buying an additional 1,200 shares during the period.

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.