Envestnet (NYSE:ENV) Coverage Initiated by Analysts at StockNews.com

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

Separately, DA Davidson reiterated a “neutral” rating and set a $63.00 target price on shares of Envestnet in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.88.

Envestnet Price Performance

ENV stock opened at $63.09 on Wednesday. The company has a market cap of $3.49 billion, a PE ratio of -13.23 and a beta of 1.25. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. The stock has a 50-day moving average price of $62.74 and a two-hundred day moving average price of $63.11. Envestnet has a 12-month low of $36.43 and a 12-month high of $73.04.

Hedge Funds Weigh In On Envestnet

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Neo Ivy Capital Management acquired a new stake in Envestnet in the third quarter valued at approximately $1,072,000. Geode Capital Management LLC boosted its stake in shares of Envestnet by 0.9% in 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. MML Investors Services LLC grew its holdings in Envestnet by 11.9% during the 3rd quarter. MML Investors Services LLC now owns 31,290 shares of the business services provider’s stock valued at $1,959,000 after purchasing an additional 3,319 shares in the last quarter. XTX Topco Ltd increased its stake in Envestnet by 337.4% during the 3rd quarter. XTX Topco Ltd now owns 23,108 shares of the business services provider’s stock worth $1,447,000 after buying an additional 17,825 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Envestnet by 5.9% in the 3rd quarter. Jane Street Group LLC now owns 77,892 shares of the business services provider’s stock worth $4,878,000 after buying an additional 4,324 shares in 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.