StockNews.com Begins Coverage on Envestnet (NYSE:ENV)

Equities researchers at StockNews.com initiated coverage on shares of Envestnet (NYSE:ENV) in a research report issued on Saturday. The brokerage set 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 report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.88.

Envestnet Price Performance

Envestnet stock opened at $63.14 on Friday. Envestnet has a fifty-two week low of $36.43 and a fifty-two week high of $73.04. The company has a market cap of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.59 and a current ratio of 0.59. The business’s 50-day simple moving average is $62.93 and its two-hundred day simple moving average is $62.73.

Institutional Investors Weigh In On Envestnet

Several hedge funds have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new position in shares of Envestnet in the 2nd quarter valued at $46,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Envestnet in the third quarter worth about $71,000. Quest Partners LLC boosted its stake in shares of Envestnet by 6,220.8% during the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock worth $95,000 after acquiring an additional 1,493 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Envestnet by 54.2% during the 3rd quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock valued at $168,000 after acquiring an additional 945 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Envestnet by 80.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after acquiring 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.