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

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

Separately, DA Davidson restated a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. One investment 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, Envestnet presently has a consensus rating of “Hold” and a consensus target price of $61.88.

Envestnet Price Performance

Shares of NYSE:ENV opened at $63.14 on Friday. Envestnet has a twelve month low of $36.43 and a twelve month high of $73.04. The stock’s 50 day moving average is $62.99 and its 200-day moving average is $62.57. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25.

Hedge Funds Weigh In On Envestnet

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Envestnet by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,134,530 shares of the business services provider’s stock valued at $71,058,000 after purchasing an additional 9,735 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Envestnet by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock worth $65,057,000 after acquiring an additional 73,751 shares during the period. Geneva Capital Management LLC increased its holdings in Envestnet by 0.5% in the 3rd quarter. Geneva Capital Management LLC now owns 863,398 shares of the business services provider’s stock worth $54,066,000 after acquiring an additional 4,042 shares during the last quarter. Westchester Capital Management LLC bought a new stake in Envestnet in the 3rd quarter valued at about $45,746,000. Finally, Engaged Capital LLC lifted its holdings in Envestnet by 479.8% during the second 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 last quarter.

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.