Envestnet (NYSE:ENV) Given “Neutral” Rating at DA Davidson

Envestnet (NYSE:ENV)‘s stock had its “neutral” rating reiterated by equities researchers at DA Davidson in a research report issued on Wednesday, Benzinga reports. They currently have a $63.00 price objective on the business services provider’s stock. DA Davidson’s price target would indicate a potential upside of 0.54% from the stock’s previous close.

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

Envestnet Stock Up 0.3 %

Shares of NYSE ENV opened at $62.66 on Wednesday. The firm’s fifty day moving average is $62.35 and its 200 day moving average is $61.63. Envestnet has a 52 week low of $33.12 and a 52 week high of $73.04. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -17.60 and a beta of 1.25.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in Envestnet in the fourth quarter worth about $25,319,000. Price T Rowe Associates Inc. MD increased its position in Envestnet by 45.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock valued at $8,968,000 after buying an additional 48,057 shares in the last quarter. Schroder Investment Management Group purchased a new position in Envestnet during the fourth quarter valued at $21,829,000. UniSuper Management Pty Ltd bought a new stake in Envestnet in the first quarter worth $762,000. Finally, One Fin Capital Management LP bought a new stake in Envestnet in the fourth quarter worth $14,336,000.

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.