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

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

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

Envestnet Stock Performance

Shares of ENV opened at $63.14 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. Envestnet has a 12-month low of $36.43 and a 12-month high of $73.04. The firm has a 50-day moving average price of $62.80 and a 200 day moving average price of $63.06. The firm has a market capitalization of $3.49 billion, a P/E ratio of -13.24 and a beta of 1.25.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ENV. Innealta Capital LLC acquired a new stake in shares of Envestnet during the second quarter worth about $46,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Envestnet during the third quarter worth about $71,000. Quest Partners LLC lifted its position in shares of Envestnet by 6,220.8% during the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock worth $95,000 after purchasing an additional 1,493 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Envestnet by 54.2% during the third quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock worth $168,000 after purchasing an additional 945 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Envestnet by 80.0% during 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.

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.