Envestnet (NYSE:ENV) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Envestnet (NYSE:ENV) in a note issued to investors on Tuesday. The firm set a “sell” rating on the business services provider’s stock.

A number of other equities analysts also recently weighed in on ENV. UBS Group reaffirmed a “neutral” rating and set a $63.15 target price (down previously from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. William Blair reaffirmed a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. Raymond James downgraded shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, DA Davidson downgraded shares of Envestnet from a “buy” rating to a “neutral” rating and reduced their price target for the company from $78.00 to $63.00 in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $61.88.

Envestnet Price Performance

ENV stock opened at $62.60 on Tuesday. Envestnet has a 1 year low of $33.12 and a 1 year high of $73.04. The company has a market cap of $3.45 billion, a P/E ratio of -17.58 and a beta of 1.25. The firm has a 50-day moving average of $62.30 and a 200 day moving average of $61.53. 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 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 business had revenue of $348.30 million for the quarter, compared to the consensus estimate of $342.90 million. During the same period in the prior year, the business posted $0.22 EPS. Envestnet’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, sell-side analysts forecast that Envestnet will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Envestnet

Institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC boosted its holdings in Envestnet by 20,229.7% in the fourth quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock worth $90,027,000 after purchasing an additional 1,816,020 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Envestnet by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock worth $297,885,000 after purchasing an additional 687,202 shares during the last quarter. Engaged Capital LLC boosted its holdings in Envestnet by 479.8% in the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after purchasing an additional 573,049 shares during the last quarter. Norges Bank purchased a new stake in Envestnet in the fourth quarter worth approximately $25,319,000. Finally, Schroder Investment Management Group purchased a new stake in Envestnet in the fourth quarter worth approximately $21,829,000.

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.