StockNews.com Initiates Coverage on Envestnet (NYSE:ENV)

Investment analysts at StockNews.com began coverage on shares of Envestnet (NYSE:ENV) in a research report issued on Tuesday. The firm set a “sell” rating on the business services provider’s stock.

Other analysts have also recently issued research reports about the stock. DA Davidson reissued a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a research note on Wednesday, September 18th. UBS Group reiterated a “neutral” rating and issued a $63.15 price target (down previously from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. Finally, Raymond James downgraded 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 given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.88.

Envestnet Stock Up 0.1 %

NYSE:ENV opened at $62.97 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 1.14. Envestnet has a one year low of $34.87 and a one year high of $73.04. The firm’s 50 day simple moving average is $62.72 and its 200 day simple moving average is $63.10. The company has a market cap of $3.49 billion, a PE ratio of -13.20 and a beta of 1.25.

Institutional Investors Weigh In On Envestnet

Large investors have recently added to or reduced their stakes in the business. Engaged Capital LLC boosted its holdings in shares of Envestnet by 479.8% during the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after buying an additional 573,049 shares in the last quarter. Alpine Associates Management Inc. bought a new position in Envestnet during the third quarter worth $25,205,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Envestnet in the third quarter worth $8,472,000. Vanguard Group Inc. increased its stake in Envestnet by 1.4% in the first quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider’s stock valued at $353,166,000 after purchasing an additional 83,081 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Envestnet by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock valued at $65,057,000 after purchasing an additional 73,751 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.