StockNews.com Begins Coverage on Envestnet (NYSE:ENV)

Equities researchers at StockNews.com initiated coverage on shares of Envestnet (NYSE:ENV) in a note issued to investors on Thursday. The firm set a “sell” rating on the business services provider’s stock.

Several other equities analysts also recently commented on ENV. UBS Group reiterated a “neutral” rating and issued a $63.15 price objective (down previously from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. DA Davidson reaffirmed a “neutral” rating and set a $63.00 price target on shares of Envestnet in a research report on Wednesday, September 18th. Raymond James lowered Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, William Blair reaffirmed a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Envestnet presently has an average rating of “Hold” and an average target price of $61.88.

Envestnet Price Performance

Shares of NYSE:ENV opened at $62.59 on Thursday. Envestnet has a 1 year low of $33.12 and a 1 year high of $73.04. The company has a market capitalization of $3.45 billion, a PE ratio of -17.58 and a beta of 1.25. The business has a fifty day moving average price of $62.49 and a two-hundred day moving average price of $62.26. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14.

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

Hedge Funds Weigh In On Envestnet

A number of institutional investors have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. bought a new stake in Envestnet during the first quarter worth about $38,000. Innealta Capital LLC purchased a new position in shares of Envestnet during the 2nd quarter valued at about $46,000. Quest Partners LLC lifted its position in Envestnet by 6,220.8% in the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock worth $95,000 after buying an additional 1,493 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Envestnet in the first quarter worth approximately $168,000. Finally, Federated Hermes Inc. boosted its stake in Envestnet by 80.0% in the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after buying an additional 1,200 shares in 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.