Envestnet (NYSE:ENV) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Envestnet (NYSE:ENV) in a research note issued to investors on Wednesday morning. The firm issued a sell rating on the business services provider’s stock.

Other equities analysts also recently issued research reports about the company. William Blair restated a market perform rating on shares of Envestnet in a research note on Thursday, July 11th. UBS Group reiterated a neutral rating and set a $63.15 price target (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. DA Davidson restated a neutral rating and issued a $63.00 price objective on shares of Envestnet in a research note on Wednesday, September 18th. Finally, Raymond James lowered Envestnet from a moderate buy rating to a hold rating in a research report on Wednesday, July 17th. 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 stock. Based on data from MarketBeat.com, Envestnet presently has an average rating of Hold and a consensus price target of $61.88.

Envestnet Trading Up 0.1 %

NYSE ENV opened at $62.61 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70. The business has a fifty day simple moving average of $62.46 and a 200 day simple moving average of $62.03. Envestnet has a 12 month low of $33.12 and a 12 month high of $73.04. The firm has a market capitalization of $3.45 billion, a P/E ratio of -17.59 and a beta of 1.25.

Envestnet (NYSE:ENV) last announced its earnings results on Friday, August 9th. The business services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.07). Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The firm had revenue of $348.30 million during the quarter, compared to analysts’ expectations of $342.90 million. During the same quarter in the prior year, the company earned $0.22 EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, analysts predict that Envestnet will post 1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Envestnet by 12.9% in 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. Engaged Capital LLC increased its stake in shares of Envestnet by 479.8% in the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after purchasing an additional 573,049 shares in the last quarter. Norges Bank purchased a new position in shares of Envestnet in the fourth quarter worth about $25,319,000. Schroder Investment Management Group bought a new stake in shares of Envestnet in the fourth quarter valued at approximately $21,829,000. Finally, One Fin Capital Management LP purchased a new stake in shares of Envestnet during the 4th quarter valued at approximately $14,336,000.

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.