Envestnet (NYSE:ENV) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Envestnet (NYSE:ENV) in a report published on Saturday. The firm issued a sell rating on the business services provider’s stock.

ENV has been the topic of a number of other reports. UBS Group reissued a “neutral” rating and set a $63.15 price objective (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. Raymond James downgraded shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. William Blair reaffirmed a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. Finally, DA Davidson reissued a “neutral” rating and issued a $63.00 target price 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 assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Envestnet has an average rating of “Hold” and a consensus price target of $61.88.

Envestnet Stock Performance

Envestnet stock opened at $62.73 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70. The firm has a market cap of $3.46 billion, a P/E ratio of -17.62 and a beta of 1.25. Envestnet has a 1-year low of $33.12 and a 1-year high of $73.04. The firm has a 50-day moving average of $62.68 and a 200-day moving average of $62.76.

Envestnet (NYSE:ENV) last released its quarterly earnings data on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.07). Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The business had revenue of $348.30 million during the quarter, compared to analysts’ expectations of $342.90 million. During the same quarter last year, the business posted $0.22 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. Sell-side analysts expect that Envestnet will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Envestnet

A number of institutional investors and hedge funds have recently made changes to their positions in ENV. Vanguard Group Inc. grew its stake in shares of Envestnet by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider’s stock worth $353,166,000 after buying an additional 83,081 shares during the last quarter. Impactive Capital LP grew its stake in shares of Envestnet by 0.8% in the first quarter. Impactive Capital LP now owns 4,183,865 shares of the business services provider’s stock worth $242,288,000 after acquiring an additional 32,832 shares during the last quarter. Geneva Capital Management LLC increased its holdings in shares of Envestnet by 1.6% during the first quarter. Geneva Capital Management LLC now owns 1,070,976 shares of the business services provider’s stock valued at $62,020,000 after acquiring an additional 16,666 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Envestnet by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock worth $65,057,000 after purchasing an additional 73,751 shares during the last quarter. Finally, Engaged Capital LLC boosted its stake in Envestnet by 479.8% in the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after purchasing an additional 573,049 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.