Envestnet (NYSE:ENV) Receives New Coverage from Analysts at StockNews.com

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

A number of other research firms have also issued reports on ENV. UBS Group restated a “neutral” rating and issued a $63.15 target price (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. DA Davidson reiterated a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. Finally, William Blair reiterated 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 issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $61.88.

Envestnet Price Performance

NYSE:ENV opened at $62.74 on Friday. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -17.62 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. The company’s 50-day moving average is $62.68 and its two-hundred day moving average is $62.72. Envestnet has a 12-month low of $33.12 and a 12-month high of $73.04.

Envestnet (NYSE:ENV) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. Envestnet’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted $0.22 earnings per share. Research analysts expect that Envestnet will post 1.71 EPS for the current year.

Institutional Trading of Envestnet

A number of institutional investors and hedge funds have recently bought and sold shares of ENV. Vanguard Group Inc. grew its position in Envestnet by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock valued at $297,885,000 after acquiring an additional 687,202 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Envestnet during the fourth quarter worth approximately $236,000. Nomura Holdings Inc. acquired a new stake in shares of Envestnet during the fourth quarter worth approximately $432,000. Argent Capital Management LLC grew its position in shares of Envestnet by 14.6% during the first quarter. Argent Capital Management LLC now owns 6,338 shares of the business services provider’s stock worth $367,000 after buying an additional 806 shares in the last quarter. Finally, Geneva Capital Management LLC grew its position in shares of Envestnet by 1.6% during the first quarter. Geneva Capital Management LLC now owns 1,070,976 shares of the business services provider’s stock worth $62,020,000 after buying an additional 16,666 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.