StockNews.com initiated coverage on shares of Envestnet (NYSE:ENV - Free Report) in a report published on Thursday morning. The brokerage issued a sell rating on the business services provider's stock.
Separately, DA Davidson reaffirmed a "neutral" rating and set a $63.00 price objective on shares of Envestnet in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $61.88.
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Envestnet Stock Performance
NYSE ENV remained flat at $63.14 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.59 and a current ratio of 0.59. The company has a fifty day moving average of $62.80 and a 200-day moving average of $63.06. Envestnet has a fifty-two week low of $36.43 and a fifty-two week high of $73.04. The company has a market cap of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Envestnet in the second quarter worth $46,000. Longfellow Investment Management Co. LLC bought a new position in Envestnet in the 3rd quarter valued at about $71,000. Quest Partners LLC raised its position in shares of Envestnet by 6,220.8% in the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider's stock valued at $95,000 after buying an additional 1,493 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Envestnet by 54.2% during the 3rd quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider's stock worth $168,000 after acquiring an additional 945 shares during the period. Finally, Federated Hermes Inc. boosted its position 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 worth $169,000 after acquiring an additional 1,200 shares in the last quarter.
Envestnet Company Profile
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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.
Further Reading
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