Envestnet (NYSE:ENV) Coverage Initiated at StockNews.com

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

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

Envestnet Stock Performance

NYSE:ENV opened at $63.14 on Friday. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. The company’s 50 day moving average price is $62.98 and its 200-day moving average price is $62.59. Envestnet has a 52 week low of $36.43 and a 52 week high of $73.04.

Hedge Funds Weigh In On Envestnet

A number of institutional investors and hedge funds have recently modified their holdings of the company. Raymond James & Associates lifted its stake in shares of Envestnet by 13.6% in the 2nd quarter. Raymond James & Associates now owns 25,886 shares of the business services provider’s stock worth $1,620,000 after purchasing an additional 3,092 shares during the period. Louisiana State Employees Retirement System raised its position in Envestnet by 2.4% in the second quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider’s stock worth $1,577,000 after acquiring an additional 600 shares during the period. Innealta Capital LLC bought a new position in Envestnet in the second quarter worth approximately $46,000. Farther Finance Advisors LLC boosted its stake in shares of Envestnet by 76,528.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,364 shares of the business services provider’s stock worth $328,000 after acquiring an additional 5,357 shares during the last quarter. Finally, Natixis Advisors LLC bought a new stake in shares of Envestnet during the 2nd quarter valued at $718,000.

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.