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

StockNews.com initiated coverage on shares of Envestnet (NYSE:ENV - Free Report) in a research report released on Sunday. The firm issued a sell rating on the business services provider's stock.

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

Envestnet Stock Up 0.1 %

Envestnet stock traded up $0.05 during mid-day trading on Friday, reaching $62.75. The company's stock had a trading volume of 282,291 shares, compared to its average volume of 628,327. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14. Envestnet has a 12 month low of $33.12 and a 12 month high of $73.04. The business's 50 day simple moving average is $62.70 and its 200 day simple moving average is $62.95. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -13.61 and a beta of 1.25.

Envestnet (NYSE:ENV - Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The business services provider reported $0.55 earnings per share 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 company had revenue of $348.30 million during the quarter, compared to the consensus estimate of $342.90 million. During the same quarter in the previous year, the business earned $0.22 EPS. Envestnet's revenue was up 11.5% on a year-over-year basis. As a group, research analysts anticipate that Envestnet will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted 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 purchasing an additional 687,202 shares during the period. Geneva Capital Management LLC grew its stake in shares of Envestnet by 1.6% in the first quarter. Geneva Capital Management LLC now owns 1,070,976 shares of the business services provider's stock valued at $62,020,000 after acquiring an additional 16,666 shares in the last quarter. Texas Permanent School Fund Corp increased its position in Envestnet by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 43,529 shares of the business services provider's stock worth $2,521,000 after acquiring an additional 688 shares during the period. SG Americas Securities LLC acquired a new stake in Envestnet in the 1st quarter worth about $168,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Envestnet by 2.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider's stock valued at $1,633,000 after purchasing an additional 543 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.