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

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

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

Envestnet Stock Performance

ENV opened at $63.09 on Wednesday. Envestnet has a 12-month low of $36.43 and a 12-month high of $73.04. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $3.49 billion, a PE ratio of -13.23 and a beta of 1.25. The firm’s fifty day moving average price is $62.74 and its 200 day moving average price is $63.11.

Institutional Investors Weigh In On Envestnet

A number of institutional investors have recently modified their holdings of ENV. Innealta Capital LLC acquired a new position in Envestnet in the second quarter valued at approximately $46,000. Longfellow Investment Management Co. LLC bought a new stake in shares of Envestnet in the 3rd quarter worth approximately $71,000. Quest Partners LLC boosted its position 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 purchasing an additional 1,493 shares during the period. SG Americas Securities LLC bought a new position in Envestnet during the 1st quarter worth $168,000. Finally, Federated Hermes Inc. increased its position in 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 buying an additional 1,200 shares during the period.

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.