Envestnet (NYSE:ENV) Downgraded by StockNews.com

StockNews.com cut shares of Envestnet (NYSE:ENV) from a hold rating to a sell rating in a research note published on Wednesday.

Several other equities analysts have also issued reports on ENV. DA Davidson lifted their target price on shares of Envestnet from $62.00 to $67.00 and gave the company a buy rating in a report on Tuesday, April 2nd. JMP Securities reiterated a market outperform rating and set a $79.00 target price on shares of Envestnet in a report on Wednesday, April 17th. Royal Bank of Canada lifted their target price on shares of Envestnet from $56.00 to $64.00 and gave the company a sector perform rating in a report on Wednesday, May 8th. William Blair restated an outperform rating on shares of Envestnet in a report on Wednesday, March 27th. Finally, Raymond James boosted their price objective on shares of Envestnet from $52.00 to $60.00 and gave the stock an outperform rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $64.14.

Envestnet Stock Performance

Shares of ENV opened at $61.59 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.19 and a quick ratio of 1.19. Envestnet has a one year low of $33.12 and a one year high of $73.04. The company has a 50-day simple moving average of $64.16 and a two-hundred day simple moving average of $57.71. The firm has a market capitalization of $3.39 billion, a PE ratio of -17.30 and a beta of 1.28.

Envestnet (NYSE:ENV) last issued its quarterly earnings data on Tuesday, May 7th. The business services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Envestnet had a negative net margin of 15.33% and a positive return on equity of 14.75%. The business had revenue of $324.95 million during the quarter, compared to analyst estimates of $324.85 million. On average, analysts anticipate that Envestnet will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Envestnet

Large investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its position in shares of Envestnet by 20,229.7% during the 4th quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock valued at $90,027,000 after acquiring an additional 1,816,020 shares during the period. Vanguard Group Inc. grew its position in shares of Envestnet by 12.9% during the 4th quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock valued at $297,885,000 after acquiring an additional 687,202 shares during the period. Norges Bank bought a new stake in shares of Envestnet during the 4th quarter valued at $25,319,000. Schroder Investment Management Group bought a new stake in shares of Envestnet during the 4th quarter valued at $21,829,000. Finally, One Fin Capital Management LP bought a new stake in shares of Envestnet during the 4th quarter valued at $14,336,000.

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.