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

StockNews.com started coverage on shares of Envestnet (NYSE:ENV) in a report published on Friday morning. The firm issued a sell rating on the business services provider’s stock.

ENV has been the subject of several other research reports. DA Davidson restated a neutral rating and issued a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. Raymond James lowered Envestnet from a moderate buy rating to a hold rating in a research report on Wednesday, July 17th. UBS Group reissued a neutral rating and issued a $63.15 price objective (down previously from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Finally, William Blair restated 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 given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Envestnet presently has a consensus rating of Hold and an average target price of $61.88.

Envestnet Trading Up 0.0 %

ENV opened at $62.67 on Friday. The stock has a market capitalization of $3.45 billion, a P/E ratio of -17.60 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. Envestnet has a 12 month low of $33.12 and a 12 month high of $73.04. The firm’s fifty day simple moving average is $62.60 and its 200 day simple moving average is $62.53.

Envestnet (NYSE:ENV) last posted its quarterly earnings data 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 firm had revenue of $348.30 million for the quarter, compared to the consensus estimate of $342.90 million. Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 earnings per share. As a group, research analysts anticipate that Envestnet will post 1.71 EPS for the current fiscal year.

Institutional Trading of Envestnet

A number of hedge funds have recently modified their holdings of the stock. Park Avenue Securities LLC raised its holdings in Envestnet by 15.0% in the 3rd quarter. Park Avenue Securities LLC now owns 7,158 shares of the business services provider’s stock valued at $448,000 after acquiring an additional 933 shares during the period. SG Americas Securities LLC lifted its holdings in 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 purchasing an additional 945 shares during the last quarter. Truist Financial Corp boosted its stake in Envestnet by 27.8% in the 2nd 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 during the period. Algert Global LLC acquired a new position in Envestnet in the 2nd quarter valued at $260,000. Finally, Select Equity Group L.P. increased its position in Envestnet by 25.5% during the 2nd quarter. Select Equity Group L.P. now owns 15,458 shares of the business services provider’s stock worth $968,000 after buying an additional 3,138 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.