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

StockNews.com started coverage on shares of Envestnet (NYSE:ENV) in a research note issued to investors on Saturday morning. The brokerage issued a sell rating on the business services provider’s stock.

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

Envestnet Stock Performance

NYSE ENV opened at $63.14 on Friday. The firm’s 50 day simple moving average is $62.93 and its 200 day simple moving average is $62.69. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25. 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 1 year low of $36.43 and a 1 year high of $73.04.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ENV. Natixis Advisors LLC acquired a new position in Envestnet in the 2nd quarter worth about $718,000. Dimensional Fund Advisors LP increased its stake in shares of Envestnet by 7.6% in 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 buying an additional 73,751 shares during the period. ClariVest Asset Management LLC bought a new position in Envestnet in the 2nd quarter valued at approximately $2,482,000. Engaged Capital LLC boosted its position in Envestnet by 479.8% during the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after buying an additional 573,049 shares during the period. Finally, Algert Global LLC grew its holdings in Envestnet by 455.4% during the 3rd quarter. Algert Global LLC now owns 23,071 shares of the business services provider’s stock worth $1,445,000 after acquiring an additional 18,917 shares during 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.