Envestnet (NYSE:ENV) Research Coverage Started at StockNews.com

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

Separately, DA Davidson reiterated a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Envestnet currently has an average rating of “Hold” and a consensus target price of $61.88.

Envestnet Price Performance

ENV stock opened at $63.14 on Friday. The stock has a market capitalization of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25. Envestnet has a 52 week low of $36.43 and a 52 week high of $73.04. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. The firm has a 50 day moving average of $62.94 and a 200 day moving average of $62.64.

Institutional Investors Weigh In On Envestnet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENV. Westchester Capital Management LLC purchased a new stake in shares of Envestnet in the third quarter worth about $45,746,000. Engaged Capital LLC lifted its holdings in Envestnet by 479.8% in the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock valued at $43,343,000 after acquiring an additional 573,049 shares during the period. Alpine Associates Management Inc. purchased a new stake in Envestnet in the 3rd quarter worth approximately $25,205,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Envestnet during the 3rd quarter worth approximately $8,472,000. Finally, Centiva Capital LP acquired a new stake in shares of Envestnet during the 3rd quarter worth approximately $6,957,000.

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.