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

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

Other research analysts have also recently issued research reports about the stock. DA Davidson reaffirmed a neutral rating and issued a $63.00 price target on shares of Envestnet in a report on Wednesday, September 18th. William Blair restated a market perform rating on shares of Envestnet in a research note on Thursday, July 11th. UBS Group reiterated a neutral rating and set 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 lowered Envestnet from a moderate buy rating to a hold rating in a report on Wednesday, July 17th. One 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 data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $61.88.

Envestnet Stock Up 0.1 %

ENV stock opened at $62.61 on Wednesday. The stock has a 50-day simple moving average of $62.46 and a two-hundred day simple moving average of $62.03. Envestnet has a twelve month low of $33.12 and a twelve month high of $73.04. The firm has a market capitalization of $3.45 billion, a PE ratio of -17.59 and a beta of 1.25. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70.

Envestnet (NYSE:ENV) last issued its quarterly earnings data 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 firm had revenue of $348.30 million for the quarter, compared to analysts’ expectations of $342.90 million. During the same period in the prior year, the firm posted $0.22 EPS. Envestnet’s revenue was up 11.5% on a year-over-year basis. On average, equities analysts predict that Envestnet will post 1.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Envestnet

A number of large investors have recently modified their holdings of ENV. Arizona State Retirement System boosted its stake in Envestnet by 2.5% in the second quarter. Arizona State Retirement System now owns 11,552 shares of the business services provider’s stock worth $723,000 after buying an additional 286 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Envestnet by 2.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider’s stock valued at $1,633,000 after purchasing an additional 543 shares during the last quarter. Natixis raised its position in Envestnet by 12.9% in the 1st quarter. Natixis now owns 4,767 shares of the business services provider’s stock worth $276,000 after purchasing an additional 544 shares during the period. Louisiana State Employees Retirement System lifted its stake in Envestnet by 2.4% in the second quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider’s stock worth $1,577,000 after purchasing an additional 600 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in Envestnet by 2.2% during the first quarter. Illinois Municipal Retirement Fund now owns 28,271 shares of the business services provider’s stock valued at $1,637,000 after buying an additional 619 shares during the period.

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.