Envestnet (NYSE:ENV) Sees Strong Trading Volume - Still a Buy?

Envestnet, Inc. (NYSE:ENV - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 602,164 shares were traded during trading, a decline of 11% from the previous session's volume of 677,759 shares.The stock last traded at $63.06 and had previously closed at $62.94.

Analyst Upgrades and Downgrades

ENV has been the subject of a number of recent research reports. DA Davidson reiterated a "neutral" rating and set a $63.00 price target on shares of Envestnet in a research note on Wednesday, September 18th. StockNews.com started coverage on shares of Envestnet in a research note on Tuesday, November 12th. They issued a "sell" rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $61.88.

Envestnet Price Performance

The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.14 and a current ratio of 0.59. The company's fifty day simple moving average is $62.72 and its two-hundred day simple moving average is $63.11. The stock has a market capitalization of $3.49 billion, a PE ratio of -13.22 and a beta of 1.25.

Institutional Investors Weigh In On Envestnet

A number of hedge funds and other institutional investors have recently modified their holdings of ENV. Westchester Capital Management LLC purchased a new stake in shares of Envestnet during the third quarter worth about $45,746,000. Engaged Capital LLC lifted its position 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 buying an additional 573,049 shares in the last quarter. Alpine Associates Management Inc. acquired a new position in Envestnet during the third quarter valued at approximately $25,205,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in Envestnet during the third quarter valued at approximately $8,472,000. Finally, Centiva Capital LP acquired a new position in shares of Envestnet during the third quarter worth $6,957,000.

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.