Envestnet, Inc. (NYSE:ENV) Sees Significant Decline in Short Interest

Envestnet, Inc. (NYSE:ENV - Get Free Report) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 2,230,000 shares, a drop of 24.9% from the September 15th total of 2,970,000 shares. Based on an average daily trading volume, of 1,140,000 shares, the short-interest ratio is currently 2.0 days.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ENV. UBS Group reiterated a "neutral" rating and set a $63.15 price objective (down from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. StockNews.com began coverage on shares of Envestnet in a research note on Friday. They issued a "sell" rating on the stock. DA Davidson reaffirmed a "neutral" rating and set a $63.00 price objective on shares of Envestnet in a research note on Wednesday, September 18th. Raymond James cut Envestnet from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 17th. Finally, William Blair reiterated a "market perform" rating on shares of Envestnet in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $61.88.

Envestnet Stock Up 0.0 %

NYSE:ENV traded up $0.03 during mid-day trading on Friday, reaching $62.67. The stock had a trading volume of 305,583 shares, compared to its average volume of 696,737. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14. The business's 50 day moving average is $62.60 and its 200 day moving average is $62.61. The stock has a market cap of $3.45 billion, a P/E ratio of -17.60 and a beta of 1.25. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $73.04.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.07). The business had revenue of $348.30 million during the quarter, compared to analyst estimates of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The firm's revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. As a group, sell-side analysts predict that Envestnet will post 1.71 earnings per share for the current year.

Hedge Funds Weigh In On Envestnet

Several institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its stake in Envestnet by 2.5% in the second quarter. Arizona State Retirement System now owns 11,552 shares of the business services provider's stock worth $723,000 after acquiring an additional 286 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Envestnet by 2.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider's stock valued at $1,633,000 after acquiring an additional 543 shares in the last quarter. Natixis grew its holdings in Envestnet by 12.9% during the 1st quarter. Natixis now owns 4,767 shares of the business services provider's stock valued at $276,000 after buying an additional 544 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Envestnet by 2.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider's stock worth $1,577,000 after purchasing an additional 600 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in Envestnet by 2.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 28,271 shares of the business services provider's stock worth $1,637,000 after acquiring an additional 619 shares during the last quarter.

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.