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

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

Several other brokerages also recently weighed in on ENV. UBS Group restated a neutral rating and set a $63.15 price target (down previously from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Raymond James lowered shares of Envestnet from a moderate buy rating to a hold rating in a research note on Wednesday, July 17th. DA Davidson reiterated a neutral rating and issued a $63.00 price target on shares of Envestnet in a research note on Wednesday, September 18th. Finally, William Blair reissued a market perform rating on shares of Envestnet in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Envestnet has a consensus rating of Hold and a consensus price target of $61.88.

Envestnet Trading Down 0.1 %

NYSE ENV opened at $62.59 on Thursday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -17.58 and a beta of 1.25. The firm has a 50 day simple moving average of $62.53 and a 200-day simple moving average of $62.37. Envestnet has a one year low of $33.12 and a one year high of $73.04.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Friday, August 9th. The business services provider reported $0.55 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $342.90 million. During the same period in the prior year, the business earned $0.22 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts anticipate that Envestnet will post 1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. YHB Investment Advisors Inc. acquired a new stake in Envestnet during the 1st quarter worth $38,000. Innealta Capital LLC purchased a new position in shares of Envestnet during the second quarter worth about $46,000. Quest Partners LLC increased its position in shares of Envestnet by 6,220.8% during the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock worth $95,000 after purchasing an additional 1,493 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Envestnet in the 1st quarter valued at about $168,000. Finally, Federated Hermes Inc. boosted its position in shares of Envestnet by 80.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 1,200 shares during the period.

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.