Envestnet (NYSE:ENV) Earns “Neutral” Rating from DA Davidson

Envestnet (NYSE:ENV)‘s stock had its “neutral” rating reaffirmed by equities research analysts at DA Davidson in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $63.00 price target on the business services provider’s stock. DA Davidson’s price target suggests a potential upside of 0.77% from the stock’s current price.

Several other research analysts have also commented on ENV. William Blair reiterated a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. StockNews.com initiated coverage on Envestnet in a report on Tuesday. They issued a “sell” rating on the stock. Raymond James downgraded Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, UBS Group reissued a “neutral” rating and issued a $63.15 price target (down previously from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $61.88.

Envestnet Stock Performance

Shares of ENV traded down $0.13 during mid-day trading on Wednesday, hitting $62.52. The stock had a trading volume of 99,141 shares, compared to its average volume of 677,594. The company has a market cap of $3.45 billion, a PE ratio of -17.56 and a beta of 1.25. The company’s fifty day simple moving average is $62.31 and its two-hundred day simple moving average is $61.61. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $73.04.

Envestnet (NYSE:ENV) last issued its earnings results on Friday, August 9th. The business services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.07). The firm had revenue of $348.30 million during the quarter, compared to analyst estimates of $342.90 million. Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. Envestnet’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. On average, equities analysts expect that Envestnet will post 1.71 earnings per share for the current year.

Institutional Trading of Envestnet

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Envestnet by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider’s stock worth $353,166,000 after buying an additional 83,081 shares in the last quarter. Impactive Capital LP grew its holdings in shares of Envestnet by 0.8% in the 1st quarter. Impactive Capital LP now owns 4,183,865 shares of the business services provider’s stock worth $242,288,000 after acquiring an additional 32,832 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Envestnet by 20,229.7% in the 4th quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock worth $90,027,000 after acquiring an additional 1,816,020 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of Envestnet by 14.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider’s stock worth $81,762,000 after acquiring an additional 207,632 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Envestnet by 0.9% in the 4th quarter. Clearbridge Investments LLC now owns 1,203,280 shares of the business services provider’s stock worth $59,586,000 after acquiring an additional 10,360 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.