Envestnet (NYSE:ENV) Coverage Initiated by Analysts at StockNews.com

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

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

Envestnet Stock Performance

ENV opened at $62.78 on Friday. The company has a market cap of $3.46 billion, a P/E ratio of -17.63 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. The firm’s 50-day moving average price is $62.70 and its 200-day moving average price is $63.02. Envestnet has a 52-week low of $33.12 and a 52-week high of $73.04.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $348.30 million for the quarter, compared to analyst estimates of $342.90 million. During the same quarter in the previous year, the company posted $0.22 EPS. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities analysts anticipate that Envestnet will post 1.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Envestnet

Institutional investors have recently made changes to their positions in the company. Arizona State Retirement System increased its stake in shares of Envestnet by 2.5% in 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. Farther Finance Advisors LLC lifted its position in shares of Envestnet by 8.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,803 shares of the business services provider’s stock valued at $363,000 after buying an additional 439 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 increased its holdings 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 acquiring an additional 544 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Envestnet by 2.4% during 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 acquiring an additional 600 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.