Envestnet (NYSE:ENV) Earns Sell Rating from Analysts at StockNews.com

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

Other analysts also recently issued reports about the stock. UBS Group reaffirmed a "neutral" rating and issued a $63.15 target price (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. Raymond James cut shares of Envestnet from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 17th. William Blair reiterated a "market perform" rating on shares of Envestnet in a report on Thursday, July 11th. Finally, DA Davidson reissued a "neutral" rating and issued a $63.00 price target on shares of Envestnet in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Envestnet currently has a consensus rating of "Hold" and an average price target of $61.88.

Envestnet Trading Up 0.0 %

Shares of ENV traded up $0.01 during trading hours on Friday, reaching $62.73. 171,530 shares of the company traded hands, compared to its average volume of 685,309. Envestnet has a 12 month low of $33.12 and a 12 month high of $73.04. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -17.62 and a beta of 1.25. The company's fifty day moving average price is $62.68 and its two-hundred day moving average price is $62.76. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70.

Envestnet (NYSE:ENV - Get Free Report) last posted its earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share 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 analysts' expectations of $342.90 million. Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The firm's revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted $0.22 EPS. Equities research analysts predict that Envestnet will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Envestnet

Hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Envestnet during the second quarter valued at $46,000. Quest Partners LLC raised its position in Envestnet by 6,220.8% in the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider's stock worth $95,000 after buying an additional 1,493 shares during the last quarter. SG Americas Securities LLC lifted its stake in Envestnet by 54.2% during the 3rd quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider's stock valued at $168,000 after acquiring an additional 945 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Envestnet by 80.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider's stock valued at $169,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Envestnet in the second quarter worth approximately $191,000.

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.