Envestnet (NYSE:ENV) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Envestnet (NYSE:ENV - Get Free Report) in a report released on Thursday. The firm set a "sell" rating on the business services provider's stock.

A number of other equities analysts have also issued reports on ENV. William Blair reissued a "market perform" rating on shares of Envestnet in a research report on Thursday, July 11th. UBS Group reissued a "neutral" rating and set a $63.15 target price (down previously from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. DA Davidson reaffirmed a "neutral" rating and issued a $63.00 price target on shares of Envestnet in a report on Wednesday, September 18th. Finally, Raymond James lowered Envestnet from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $61.88.

Envestnet Stock Performance

Shares of NYSE ENV traded up $0.04 during midday trading on Thursday, reaching $62.63. The company had a trading volume of 1,734,608 shares, compared to its average volume of 705,236. The stock has a market cap of $3.45 billion, a P/E ratio of -17.58 and a beta of 1.25. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70. Envestnet has a 1 year low of $33.12 and a 1 year high of $73.04. The business's 50-day simple moving average is $62.51 and its 200 day simple moving average is $62.26.

Envestnet (NYSE:ENV - Get Free Report) last issued its quarterly earnings results on Friday, August 9th. The business services provider reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.07). The firm had revenue of $348.30 million for the quarter, compared to analyst estimates of $342.90 million. Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The business's revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. On average, analysts forecast that Envestnet will post 1.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Envestnet

Institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC boosted its position in Envestnet by 51.8% during the fourth quarter. Corient Private Wealth LLC now owns 13,099 shares of the business services provider's stock worth $649,000 after purchasing an additional 4,468 shares in the last quarter. Schroder Investment Management Group acquired a new position in shares of Envestnet during the 4th quarter worth approximately $21,829,000. 13D Management LLC lifted its position in shares of Envestnet by 88.5% during the 4th quarter. 13D Management LLC now owns 89,671 shares of the business services provider's stock valued at $4,441,000 after buying an additional 42,098 shares in the last quarter. One Fin Capital Management LP acquired a new stake in Envestnet in the 4th quarter valued at $14,336,000. Finally, Vanguard Group Inc. grew 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.

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.