Envestnet, Inc. (NYSE:ENV) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Envestnet, Inc. (NYSE:ENV) have been given an average recommendation of “Hold” by the eight analysts that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $61.88.

A number of equities analysts have issued reports on the stock. William Blair reissued a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. StockNews.com assumed coverage on shares of Envestnet in a research report on Saturday, October 19th. They set a “sell” rating for the company. UBS Group reissued a “neutral” rating and set a $63.15 price target (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. DA Davidson reissued a “neutral” rating and set a $63.00 price target on shares of Envestnet in a research report on Wednesday, September 18th. Finally, Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

Hedge Funds Weigh In On Envestnet

Several institutional investors have recently made changes to their positions in the company. Arizona State Retirement System increased its holdings in shares of Envestnet by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 11,552 shares of the business services provider’s stock valued at $723,000 after purchasing an additional 286 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Envestnet by 2.0% in 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 acquiring an additional 543 shares during the period. Natixis grew its stake in Envestnet by 12.9% in the 1st quarter. Natixis now owns 4,767 shares of the business services provider’s stock valued at $276,000 after acquiring an additional 544 shares during the period. Louisiana State Employees Retirement System grew its stake in Envestnet by 2.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider’s stock valued at $1,577,000 after acquiring an additional 600 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in Envestnet by 2.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 28,271 shares of the business services provider’s stock valued at $1,637,000 after acquiring an additional 619 shares during the period.

Envestnet Price Performance

ENV stock opened at $62.79 on Friday. The firm has a 50 day moving average of $62.71 and a 200 day moving average of $62.87. The stock has a market capitalization of $3.46 billion, a PE ratio of -17.64 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 has a 52 week low of $33.12 and a 52 week high of $73.04.

Envestnet (NYSE:ENV) last released its 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 company had revenue of $348.30 million during the quarter, compared to analyst estimates of $342.90 million. Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. Sell-side analysts forecast that Envestnet will post 1.71 earnings per share for the current year.

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.