Envestnet, Inc. (NYSE:ENV) Short Interest Up 28.3% in October

Envestnet, Inc. (NYSE:ENV - Get Free Report) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 2,860,000 shares, a growth of 28.3% from the September 30th total of 2,230,000 shares. Based on an average daily trading volume, of 713,400 shares, the short-interest ratio is currently 4.0 days.

Institutional Investors Weigh In On Envestnet

Large investors have recently made changes to their positions in the stock. Everence Capital Management Inc. grew its position in Envestnet by 25.8% in the third quarter. Everence Capital Management Inc. now owns 6,190 shares of the business services provider's stock valued at $388,000 after purchasing an additional 1,270 shares in the last quarter. Park Avenue Securities LLC grew its position in Envestnet by 15.0% in the third quarter. Park Avenue Securities LLC now owns 7,158 shares of the business services provider's stock valued at $448,000 after purchasing an additional 933 shares in the last quarter. SG Americas Securities LLC grew its position in Envestnet by 54.2% in the third quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider's stock valued at $168,000 after purchasing an additional 945 shares in the last quarter. Truist Financial Corp grew its position in Envestnet by 27.8% in the second quarter. Truist Financial Corp now owns 15,489 shares of the business services provider's stock valued at $969,000 after purchasing an additional 3,370 shares in the last quarter. Finally, Algert Global LLC bought a new position in Envestnet in the second quarter valued at $260,000.

Wall Street Analysts Forecast Growth

ENV has been the topic of a number of analyst reports. Raymond James cut shares of Envestnet from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 17th. UBS Group reaffirmed 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. William Blair reaffirmed a "market perform" rating on shares of Envestnet in a research note on Thursday, July 11th. StockNews.com started coverage on shares of Envestnet in a research note on Sunday. They set a "sell" rating on the stock. Finally, 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $61.88.

Envestnet Trading Down 0.0 %

ENV traded down $0.02 during mid-day trading on Monday, hitting $62.73. The stock had a trading volume of 475,955 shares, compared to its average volume of 674,294. The stock's fifty day simple moving average is $62.70 and its 200-day simple moving average is $62.95. 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 firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -17.63 and a beta of 1.25. Envestnet has a 1-year low of $33.12 and a 1-year 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 for the quarter, missing the consensus estimate of $0.62 by ($0.07). Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The firm had revenue of $348.30 million during the quarter, compared to analyst estimates of $342.90 million. During the same quarter last year, the business posted $0.22 earnings per share. The company's revenue for the quarter was up 11.5% on a year-over-year basis. As a group, research analysts forecast that Envestnet will post 1.71 EPS for the current fiscal year.

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.

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