Envestnet (NYSE:ENV) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Envestnet (NYSE:ENV) in a research report sent to investors on Sunday morning. The firm issued a sell rating on the business services provider’s stock.

Several other research firms also recently commented on ENV. William Blair reissued a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. DA Davidson reissued a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a research note on Wednesday, September 18th. Raymond James cut Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, UBS Group reissued a “neutral” rating and issued a $63.15 price target (down previously from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Envestnet currently has a consensus rating of “Hold” and a consensus price target of $61.88.

Envestnet Stock Up 0.1 %

ENV opened at $62.78 on Friday. The company has a market capitalization of $3.46 billion, a PE ratio of -17.62 and a beta of 1.25. The business has a 50-day moving average of $62.70 and a 200-day moving average of $62.98. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $73.04. 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 (NYSE:ENV) last issued its quarterly earnings data on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.07). The business had revenue of $348.30 million for the quarter, compared to the consensus estimate of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. Envestnet’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 EPS. Equities research analysts forecast that Envestnet will post 1.71 EPS for the current fiscal year.

Institutional Trading of Envestnet

Several hedge funds and other institutional investors have recently bought and sold shares of ENV. Vanguard Group Inc. lifted its stake in shares of Envestnet by 12.9% in 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 period. Engaged Capital LLC lifted its position in shares of Envestnet by 479.8% in the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after acquiring an additional 573,049 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Envestnet by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock worth $65,057,000 after purchasing an additional 73,751 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Envestnet by 45.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock valued at $8,968,000 after purchasing an additional 48,057 shares during the period. Finally, ClariVest Asset Management LLC acquired a new position in shares of Envestnet in the second quarter valued at $2,482,000.

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.