Envestnet (NYSE:ENV) Receives New Coverage from Analysts at StockNews.com

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

ENV has been the subject of a number of other research reports. Raymond James lowered Envestnet from a moderate buy rating to a hold rating in a research report on Wednesday, July 17th. DA Davidson lowered Envestnet from a buy rating to a neutral rating and reduced their price target for the stock from $78.00 to $63.00 in a research report on Thursday, July 18th. William Blair restated a market perform rating on shares of Envestnet in a report on Thursday, July 11th. Royal Bank of Canada upped their price objective on Envestnet from $56.00 to $64.00 and gave the company a sector perform rating in a report on Wednesday, May 8th. Finally, UBS Group restated a neutral rating and issued a $63.15 price objective (down previously from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Envestnet has a consensus rating of Hold and an average price target of $61.88.

Envestnet Stock Performance

ENV traded up $0.01 during trading on Thursday, reaching $62.02. 570,789 shares of the company were exchanged, compared to its average volume of 676,338. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.47. Envestnet has a 52 week low of $33.12 and a 52 week high of $73.04. The firm has a 50 day moving average of $62.31 and a 200 day moving average of $59.29. The stock has a market cap of $3.42 billion, a P/E ratio of -17.42 and a beta of 1.28.

Envestnet (NYSE:ENV) last announced its quarterly earnings results on Tuesday, May 7th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Envestnet had a positive return on equity of 14.75% and a negative net margin of 15.33%. The company had revenue of $324.95 million during the quarter, compared to analyst estimates of $324.85 million. On average, sell-side analysts forecast that Envestnet will post 1.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Envestnet

Hedge funds have recently modified their holdings of the stock. YHB Investment Advisors Inc. acquired a new position in Envestnet during the first quarter valued at $38,000. Innealta Capital LLC acquired a new position in Envestnet during the second quarter valued at $46,000. Quest Partners LLC acquired a new position in Envestnet during the fourth quarter valued at $58,000. SG Americas Securities LLC acquired a new position in Envestnet during the first quarter valued at $168,000. Finally, Federated Hermes Inc. raised its position in Envestnet by 80.0% during the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after buying an additional 1,200 shares during the period.

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.