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

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

Other equities analysts have also recently issued research reports about the company. DA Davidson restated a neutral rating and issued a $63.00 price target on shares of Envestnet in a report on Wednesday, September 18th. UBS Group reiterated a neutral rating and issued a $63.15 price target (down previously from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. Raymond James lowered Envestnet from a moderate buy rating to a hold rating in a research note on Wednesday, July 17th. Finally, William Blair reiterated a market perform rating on shares of Envestnet in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $61.88.

Envestnet Stock Performance

NYSE:ENV opened at $62.59 on Thursday. The firm has a market cap of $3.45 billion, a PE ratio of -17.58 and a beta of 1.25. 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 has a 1-year low of $33.12 and a 1-year high of $73.04. The firm has a 50 day simple moving average of $62.53 and a 200-day simple moving average of $62.41.

Envestnet (NYSE:ENV) last posted its quarterly earnings data 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 analyst estimates of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS. On average, equities analysts expect that Envestnet will post 1.71 EPS for the current year.

Institutional Trading of Envestnet

A number of institutional investors and hedge funds have recently made changes to their positions in ENV. Vanguard Group Inc. raised its holdings in shares of Envestnet by 12.9% during the fourth quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock valued at $297,885,000 after buying an additional 687,202 shares during the last quarter. Engaged Capital LLC grew its stake in shares of Envestnet by 479.8% in the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after purchasing an additional 573,049 shares in the last quarter. Schroder Investment Management Group acquired a new position in shares of Envestnet during the fourth quarter valued at $21,829,000. One Fin Capital Management LP bought a new stake in shares of Envestnet during the fourth quarter valued at about $14,336,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Envestnet by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock valued at $65,057,000 after acquiring an additional 73,751 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.