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

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

Separately, DA Davidson reiterated a “neutral” rating and set a $63.00 target price on shares of Envestnet in a research report 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.88.

Envestnet Price Performance

Shares of NYSE:ENV opened at $63.14 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25. The company has a 50 day moving average of $62.98 and a 200-day moving average of $62.58. Envestnet has a one year low of $36.43 and a one year high of $73.04.

Hedge Funds Weigh In On Envestnet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in Envestnet during the 2nd quarter worth $46,000. Longfellow Investment Management Co. LLC bought a new stake in shares of Envestnet in the third quarter worth about $71,000. Quest Partners LLC lifted its holdings 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 valued at $95,000 after purchasing an additional 1,493 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Envestnet by 54.2% in the 3rd quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 945 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Envestnet by 80.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after purchasing 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.