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

StockNews.com initiated coverage on shares of Envestnet (NYSE:ENV) in a research note issued on Friday. The firm set a “sell” rating on the business services provider’s stock.

Other analysts have also recently issued reports about the stock. Raymond James cut shares of Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. William Blair reaffirmed a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. DA Davidson reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a research report on Wednesday, September 18th. Finally, UBS Group reaffirmed a “neutral” rating and set a $63.15 price objective (down previously from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $61.88.

Envestnet Stock Performance

Shares of ENV opened at $62.67 on Friday. Envestnet has a one year low of $33.12 and a one year high of $73.04. The company has a 50-day moving average of $62.60 and a two-hundred day moving average of $62.58. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -17.60 and a beta of 1.25. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14.

Envestnet (NYSE:ENV) last announced 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). Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The firm had revenue of $348.30 million during the quarter, compared to analyst estimates of $342.90 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts expect that Envestnet will post 1.71 earnings per share for the current year.

Institutional Investors Weigh In On Envestnet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new stake in Envestnet during the second quarter worth $46,000. Quest Partners LLC boosted its stake in Envestnet by 6,220.8% during the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock worth $95,000 after buying an additional 1,493 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Envestnet during the first quarter worth $168,000. Federated Hermes Inc. boosted its stake in 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, Summit Securities Group LLC acquired a new stake in shares of Envestnet in the 2nd quarter valued at $191,000.

About Envestnet

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.