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

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

Separately, DA Davidson reaffirmed a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Envestnet currently has a consensus rating of “Hold” and a consensus price target of $61.88.

Envestnet Stock Up 0.1 %

Shares of NYSE ENV opened at $63.14 on Wednesday. The firm has a market cap of $3.49 billion, a P/E 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 1 year low of $36.43 and a 1 year high of $73.04. The firm’s 50 day moving average price is $62.75 and its 200 day moving average price is $63.11.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Envestnet by 1.4% during the first quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider’s stock worth $353,166,000 after acquiring an additional 83,081 shares during the last quarter. Impactive Capital LP grew its holdings in shares of Envestnet by 0.8% during the 1st quarter. Impactive Capital LP now owns 4,183,865 shares of the business services provider’s stock worth $242,288,000 after purchasing an additional 32,832 shares during the period. Geode Capital Management LLC increased its position in Envestnet by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,134,530 shares of the business services provider’s stock worth $71,058,000 after purchasing an additional 9,735 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Envestnet by 7.6% in 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 buying an additional 73,751 shares during the period. Finally, Geneva Capital Management LLC lifted its position in Envestnet by 0.5% during the third quarter. Geneva Capital Management LLC now owns 863,398 shares of the business services provider’s stock valued at $54,066,000 after buying an additional 4,042 shares in the last quarter.

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.