Envestnet, Inc. (NYSE:ENV) Given Consensus Recommendation of “Hold” by Brokerages

Envestnet, Inc. (NYSE:ENV) has earned an average recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $61.88.

Several brokerages have weighed in on ENV. UBS Group reaffirmed a “neutral” rating and set a $63.15 price target (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. William Blair reiterated a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. Royal Bank of Canada upped their price objective on Envestnet from $56.00 to $64.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 8th. Jefferies Financial Group raised shares of Envestnet from an “underperform” rating to a “hold” rating and lifted their target price for the company from $47.00 to $59.00 in a report on Wednesday, May 8th. Finally, StockNews.com began coverage on shares of Envestnet in a research report on Thursday. They issued a “sell” rating for the company.

Envestnet Price Performance

Shares of NYSE ENV opened at $62.03 on Monday. Envestnet has a 52 week low of $33.12 and a 52 week high of $73.04. The business’s 50 day moving average price is $62.24 and its 200 day moving average price is $59.48. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.47. The firm has a market cap of $3.42 billion, a P/E ratio of -17.42 and a beta of 1.28.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in shares of Envestnet by 415.1% during the 4th quarter. State of Alaska Department of Revenue now owns 30,599 shares of the business services provider’s stock valued at $1,515,000 after buying an additional 24,659 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Envestnet by 50.3% in the 4th quarter. New York State Teachers Retirement System now owns 12,621 shares of the business services provider’s stock valued at $625,000 after purchasing an additional 4,221 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Envestnet by 6.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,499 shares of the business services provider’s stock worth $6,462,000 after purchasing an additional 7,924 shares during the period. Cambiar Investors LLC grew its holdings in shares of Envestnet by 65.5% during the 4th quarter. Cambiar Investors LLC now owns 57,652 shares of the business services provider’s stock worth $2,855,000 after purchasing an additional 22,823 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Envestnet during the 4th quarter worth about $1,233,000.

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.