Envestnet (NYSE:ENV) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Envestnet (NYSE:ENV) in a research note published on Wednesday morning. The brokerage issued a sell rating on the business services provider’s stock.

Several other equities research analysts have also commented on the company. 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. UBS Group reissued a neutral rating and set a $63.15 price target (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. William Blair reaffirmed a market perform rating on shares of Envestnet in a report on Thursday, July 11th. Finally, Raymond James downgraded shares of Envestnet from a moderate buy rating to a hold rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Envestnet currently has an average rating of Hold and an average target price of $61.88.

Envestnet Trading Up 0.1 %

Shares of Envestnet stock opened at $62.61 on Wednesday. The stock has a market cap of $3.45 billion, a PE ratio of -17.59 and a beta of 1.25. The firm has a fifty day moving average price of $62.46 and a 200 day moving average price of $62.03. Envestnet has a 1 year low of $33.12 and a 1 year high of $73.04. 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 released its quarterly earnings data on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The company had revenue of $348.30 million for the quarter, compared to analysts’ expectations of $342.90 million. During the same quarter in the previous year, the business posted $0.22 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts predict that Envestnet will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. YHB Investment Advisors Inc. purchased a new position in Envestnet in the 1st quarter valued at $38,000. Innealta Capital LLC purchased a new position in shares of Envestnet in the second quarter worth about $46,000. Quest Partners LLC acquired a new position in Envestnet during the fourth quarter worth about $58,000. Federated Hermes Inc. grew its stake in Envestnet by 80.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after acquiring an additional 1,200 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Envestnet in the 1st quarter valued at about $168,000.

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.