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

StockNews.com started coverage on shares of Envestnet (NYSE:ENV) in a report published on Tuesday. The firm issued a sell rating on the business services provider’s stock.

A number of other research firms have also issued reports on ENV. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. UBS Group reiterated a “neutral” rating and issued a $63.15 target price (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Finally, DA Davidson reiterated a “neutral” rating and issued a $63.00 target price 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 issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.88.

Envestnet Stock Performance

Shares of ENV stock opened at $62.94 on Tuesday. The company’s fifty day simple moving average is $62.72 and its 200-day simple moving average is $63.10. Envestnet has a 52 week low of $36.01 and a 52 week high of $73.04. The company has a current ratio of 0.59, a quick ratio of 1.14 and a debt-to-equity ratio of 1.07. The company has a market cap of $3.48 billion, a PE ratio of -13.19 and a beta of 1.25.

Hedge Funds Weigh In On Envestnet

Several hedge funds have recently made changes to their positions in the business. Innealta Capital LLC acquired a new position in Envestnet in the second quarter valued at about $46,000. Longfellow Investment Management Co. LLC acquired a new position in Envestnet in the third quarter valued at about $71,000. Quest Partners LLC raised its stake in Envestnet by 6,220.8% in the second 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 acquired a new position in Envestnet in the first quarter valued at about $168,000. Finally, Federated Hermes Inc. raised its stake in Envestnet by 80.0% during the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after acquiring an additional 1,200 shares in 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.