Envestnet (NYSE:ENV) Coverage Initiated by Analysts at StockNews.com

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

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

Envestnet Stock Performance

Envestnet stock opened at $63.14 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.59. Envestnet has a 12 month low of $36.43 and a 12 month high of $73.04. The company has a fifty day moving average price of $63.03 and a two-hundred day moving average price of $62.62. The company has a market cap of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25.

Institutional Investors Weigh In On Envestnet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Westchester Capital Management LLC acquired a new position in shares of Envestnet during the third quarter valued at approximately $45,746,000. Engaged Capital LLC increased its position in shares of Envestnet by 479.8% during the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock valued at $43,343,000 after purchasing an additional 573,049 shares during the period. Alpine Associates Management Inc. bought a new stake in shares of Envestnet in the 3rd quarter worth $25,205,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Envestnet in the third quarter valued at $8,472,000. Finally, Centiva Capital LP bought a new position in Envestnet during the third quarter valued at about $6,957,000.

Envestnet Company Profile

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.