DA Davidson Reaffirms Neutral Rating for Envestnet (NYSE:ENV)

DA Davidson restated their neutral rating on shares of Envestnet (NYSE:ENV) in a research note released on Wednesday morning, Benzinga reports. They currently have a $63.00 price target on the business services provider’s stock.

Several other equities research analysts also recently issued reports on the company. William Blair reaffirmed a market perform rating on shares of Envestnet in a research report on Thursday, July 11th. UBS Group reaffirmed a neutral rating and issued a $63.15 price target (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. StockNews.com assumed coverage on Envestnet in a report on Tuesday, September 17th. They set a sell rating for the company. Finally, Raymond James downgraded shares of Envestnet from a moderate buy rating to a hold rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $61.88.

Envestnet Stock Up 0.1 %

Shares of ENV stock opened at $62.74 on Wednesday. The stock’s 50 day simple moving average is $62.37 and its 200 day simple moving average is $61.77. Envestnet has a twelve month low of $33.12 and a twelve month high of $73.04. 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 company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -17.62 and a beta of 1.25.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Friday, August 9th. The business services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). The firm had revenue of $348.30 million during the quarter, compared to the consensus estimate of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 EPS. As a group, research analysts predict that Envestnet will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Envestnet

A number of institutional investors have recently bought and sold shares of the business. YHB Investment Advisors Inc. bought a new position in shares of Envestnet during the 1st quarter worth about $38,000. Innealta Capital LLC bought a new position in Envestnet during the second quarter worth about $46,000. Quest Partners LLC bought a new stake in shares of Envestnet in the 4th quarter valued at approximately $58,000. SG Americas Securities LLC bought a new stake in shares of Envestnet in the 1st quarter valued at approximately $168,000. Finally, Federated Hermes Inc. raised its holdings 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 worth $169,000 after buying an additional 1,200 shares in the last quarter.

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.