Envestnet (NYSE:ENV) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Envestnet (NYSE:ENV) from a hold rating to a sell rating in a report released on Wednesday.

Several other research firms also recently commented on ENV. Royal Bank of Canada boosted their target price on shares of Envestnet from $56.00 to $64.00 and gave the stock a sector perform rating in a research report on Wednesday, May 8th. JMP Securities restated a market outperform rating and issued a $79.00 price objective on shares of Envestnet in a research note on Wednesday, April 17th. Raymond James boosted their price objective on shares of Envestnet from $52.00 to $60.00 and gave the stock an outperform rating in a research note on Tuesday, April 2nd. DA Davidson boosted their price objective on shares of Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. Finally, Jefferies Financial Group upgraded shares of Envestnet from an underperform rating to a hold rating and boosted their price objective for the stock from $47.00 to $59.00 in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $64.14.

Envestnet Stock Performance

ENV stock opened at $61.59 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -17.30 and a beta of 1.28. Envestnet has a 12 month low of $33.12 and a 12 month high of $73.04. The firm has a 50 day moving average of $64.16 and a two-hundred day moving average of $57.76.

Envestnet (NYSE:ENV) last posted its earnings results on Tuesday, May 7th. The business services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $324.95 million during the quarter, compared to the consensus estimate of $324.85 million. Envestnet had a negative net margin of 15.33% and a positive return on equity of 14.75%. As a group, equities analysts anticipate that Envestnet will post 1.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Envestnet

Several large investors have recently bought and sold shares of ENV. Hsbc Holdings PLC raised its stake in Envestnet by 20,229.7% during the 4th quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock valued at $90,027,000 after purchasing an additional 1,816,020 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Envestnet by 12.9% in the 4th quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock valued at $297,885,000 after buying an additional 687,202 shares in the last quarter. Norges Bank acquired a new position in shares of Envestnet in the 4th quarter valued at $25,319,000. Schroder Investment Management Group acquired a new position in shares of Envestnet in the 4th quarter valued at $21,829,000. Finally, One Fin Capital Management LP acquired a new position in shares of Envestnet in the 4th quarter valued at $14,336,000.

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.