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

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

A number of other analysts have also recently commented on ENV. Raymond James cut Envestnet from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 17th. DA Davidson reissued a "neutral" rating and issued a $63.00 target price on shares of Envestnet in a research note on Wednesday, September 18th. William Blair reaffirmed a "market perform" rating on shares of Envestnet in a research report on Thursday, July 11th. Finally, UBS Group reiterated a "neutral" rating and issued a $63.15 price target (down previously from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. 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 company's stock. Based on data from MarketBeat, Envestnet presently has a consensus rating of "Hold" and a consensus price target of $61.88.

Envestnet Stock Down 0.0 %

Shares of ENV stock traded down $0.03 during midday trading on Monday, reaching $62.79. 633,033 shares of the stock were exchanged, compared to its average volume of 669,026. The firm has a market cap of $3.47 billion, a PE ratio of -13.62 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. The company's 50 day moving average is $62.70 and its two-hundred day moving average is $63.07. Envestnet has a 1 year low of $33.12 and a 1 year high of $73.04.

Envestnet (NYSE:ENV - Get Free Report) last announced its 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). Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The business had revenue of $348.30 million for the quarter, compared to the consensus estimate of $342.90 million. During the same quarter last year, the firm posted $0.22 EPS. The business's quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research analysts predict that Envestnet will post 1.71 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Envestnet by 1.4% in the first quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider's stock valued at $353,166,000 after acquiring an additional 83,081 shares during the period. Impactive Capital LP grew its holdings in Envestnet by 0.8% during the first quarter. Impactive Capital LP now owns 4,183,865 shares of the business services provider's stock valued at $242,288,000 after purchasing an additional 32,832 shares during the period. Geneva Capital Management LLC increased its position in 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 worth $62,020,000 after buying an additional 16,666 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Envestnet by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider's stock valued at $65,057,000 after buying an additional 73,751 shares in the last quarter. Finally, Engaged Capital LLC grew its stake in shares of Envestnet by 479.8% during the 2nd quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider's stock valued at $43,343,000 after acquiring an additional 573,049 shares during the period.

About Envestnet

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.