Envestnet (NYSE:ENV) Earns Sell Rating from Analysts at StockNews.com

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

A number of other research analysts also recently issued reports on the company. DA Davidson downgraded Envestnet from a buy rating to a neutral rating and lowered their price target for the company from $78.00 to $63.00 in a report on Thursday, July 18th. William Blair reiterated a market perform rating on shares of Envestnet in a research note on Thursday, July 11th. UBS Group reissued a neutral rating and set a $63.15 price objective (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Finally, Raymond James cut shares of Envestnet from a moderate buy rating to a hold rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $61.88.

Envestnet Price Performance

Shares of NYSE:ENV opened at $62.67 on Monday. The business has a fifty day moving average price of $62.34 and a 200-day moving average price of $61.21. 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 company has a market capitalization of $3.45 billion, a PE ratio of -17.60 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) last posted its quarterly 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 firm had revenue of $348.30 million for the quarter, compared to analysts’ expectations of $342.90 million. During the same quarter in the previous year, the company earned $0.22 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts expect that Envestnet will post 1.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Envestnet

A number of institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp boosted its position in shares of Envestnet by 27.8% during the second quarter. Truist Financial Corp now owns 15,489 shares of the business services provider’s stock worth $969,000 after acquiring an additional 3,370 shares during the last quarter. Algert Global LLC purchased a new stake in Envestnet in the 2nd quarter worth $260,000. Select Equity Group L.P. boosted its holdings in shares of 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 valued at $968,000 after purchasing an additional 3,138 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Envestnet during the second quarter valued at about $212,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Envestnet by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 29,643 shares of the business services provider’s stock worth $1,855,000 after purchasing an additional 1,051 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.