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

Equities researchers at StockNews.com started coverage on shares of Envestnet (NYSE:ENV) in a research report issued on Monday. The firm set a “sell” rating on the business services provider’s stock.

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

Envestnet Price Performance

NYSE:ENV opened at $63.14 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. Envestnet has a 52 week low of $36.43 and a 52 week high of $73.04. The stock’s 50-day moving average price is $63.02 and its 200-day moving average price is $62.59. The stock has a market capitalization of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25.

Hedge Funds Weigh In On Envestnet

Several hedge funds and other institutional investors have recently made changes to their positions in ENV. Longfellow Investment Management Co. LLC purchased a new stake in shares of Envestnet during the third quarter worth approximately $71,000. Quest Partners LLC boosted its stake in Envestnet by 6,220.8% during the 2nd 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 grew its holdings 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 worth $168,000 after buying an additional 945 shares in the last quarter. Federated Hermes Inc. grew its holdings 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 worth $169,000 after buying an additional 1,200 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of Envestnet in the second quarter valued at about $212,000.

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.