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

StockNews.com began coverage on shares of Envestnet (NYSE:ENV) in a research report sent to investors on Monday. The brokerage issued a sell rating on the business services provider’s stock.

A number of other equities analysts have also issued reports on ENV. UBS Group reaffirmed a “neutral” rating and set a $63.15 price target (down from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. Raymond James cut shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. DA Davidson reaffirmed a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a research note on Wednesday, September 18th. Finally, William Blair reissued a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Envestnet has a consensus rating of “Hold” and an average target price of $61.88.

Envestnet Stock Down 0.0 %

Shares of ENV opened at $62.79 on Monday. The stock’s fifty day moving average is $62.70 and its 200-day moving average is $63.08. Envestnet has a one year low of $33.12 and a one year high of $73.04. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14.

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 company had revenue of $348.30 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. Analysts forecast that Envestnet will post 1.71 EPS for the current year.

Institutional Trading of Envestnet

Several large investors have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Envestnet during the second quarter valued at $46,000. Quest Partners LLC grew its stake in Envestnet by 6,220.8% during the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 1,493 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Envestnet by 54.2% in the 3rd quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 945 shares during the period. Federated Hermes Inc. lifted its position in shares of Envestnet by 80.0% in the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in Envestnet in the 2nd quarter valued at approximately $191,000.

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.