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

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

Separately, DA Davidson reiterated a “neutral” rating and set a $63.00 target price on shares of Envestnet in a research report on Wednesday, September 18th. One 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’s stock. Based on data from MarketBeat.com, Envestnet presently has an average rating of “Hold” and a consensus target price of $61.88.

Envestnet Stock Performance

ENV stock opened at $63.14 on Friday. The company has a market capitalization of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.59 and a current ratio of 0.59. Envestnet has a one year low of $36.43 and a one year high of $73.04. The company’s 50 day moving average price is $62.99 and its two-hundred day moving average price is $62.57.

Institutional Trading of Envestnet

Several large investors have recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Envestnet in the second quarter worth approximately $46,000. Longfellow Investment Management Co. LLC purchased a new stake in shares of Envestnet during the 3rd quarter valued at $71,000. Quest Partners LLC increased its holdings in shares of 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 buying an additional 1,493 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Envestnet by 54.2% in the 3rd 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 during the period. Finally, Federated Hermes Inc. boosted its holdings in Envestnet by 80.0% in the second 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 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.