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

Investment analysts at StockNews.com started coverage on shares of Envestnet (NYSE:ENV) in a research note issued to investors on Tuesday. The brokerage set a “sell” rating on the business services provider’s stock.

A number of other research analysts have also recently commented on ENV. DA Davidson cut Envestnet from a “buy” rating to a “neutral” rating and reduced their target price for the company from $78.00 to $63.00 in a research note on Thursday, July 18th. Raymond James cut Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. UBS Group restated a “neutral” rating and set a $63.15 price target (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. Finally, William Blair restated a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. One 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $61.88.

Envestnet Trading Down 0.0 %

Envestnet stock opened at $62.60 on Tuesday. The stock has a market cap of $3.45 billion, a P/E ratio of -17.58 and a beta of 1.25. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $73.04. The firm’s fifty day moving average price is $62.30 and its 200-day moving average price is $61.53. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14.

Envestnet (NYSE:ENV) last released its earnings results on Friday, August 9th. The business services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). The firm had revenue of $348.30 million during 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%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS. Equities research analysts forecast that Envestnet will post 1.71 earnings per share for the current fiscal year.

Institutional Trading of Envestnet

Institutional investors have recently modified their holdings of the company. YHB Investment Advisors Inc. purchased a new stake in shares of Envestnet during the first quarter worth about $38,000. Innealta Capital LLC purchased a new stake in shares of Envestnet during the second quarter worth about $46,000. Quest Partners LLC purchased a new stake in shares of Envestnet during the fourth quarter worth about $58,000. SG Americas Securities LLC purchased a new stake in shares of Envestnet during the first quarter worth about $168,000. Finally, Federated Hermes Inc. raised its stake in Envestnet by 80.0% in the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after buying 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.