Envestnet, Inc. (NYSE:ENV) Given Consensus Recommendation of “Hold” by Brokerages

Envestnet, Inc. (NYSE:ENV) has received a consensus rating of “Hold” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $61.88.

A number of analysts have recently issued reports on the company. UBS Group restated a “neutral” rating and issued a $63.15 target price (down from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. StockNews.com initiated coverage on shares of Envestnet in a research note on Tuesday, September 17th. They set a “sell” rating for the company. William Blair reaffirmed a “market perform” rating on shares of Envestnet in a report on Thursday, July 11th. Raymond James downgraded Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, DA Davidson restated a “neutral” rating and set a $63.00 price target on shares of Envestnet in a research report on Wednesday, September 18th.

Envestnet Trading Down 0.2 %

NYSE:ENV opened at $62.61 on Tuesday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $3.45 billion, a P/E ratio of -17.59 and a beta of 1.25. Envestnet has a 52 week low of $33.12 and a 52 week high of $73.04. The stock’s 50 day moving average price is $62.38 and its 200 day moving average price is $61.91.

Envestnet (NYSE:ENV) last posted its quarterly earnings data 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). The business had revenue of $348.30 million during 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 company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. On average, research analysts forecast that Envestnet will post 1.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Envestnet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Envestnet by 1.4% during the first quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider’s stock worth $353,166,000 after acquiring an additional 83,081 shares in the last quarter. Impactive Capital LP increased its holdings in shares of Envestnet by 0.8% during the 1st quarter. Impactive Capital LP now owns 4,183,865 shares of the business services provider’s stock worth $242,288,000 after acquiring an additional 32,832 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Envestnet by 20,229.7% during the 4th quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock valued at $90,027,000 after purchasing an additional 1,816,020 shares during the last quarter. Stephens Investment Management Group LLC boosted its position in Envestnet by 14.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider’s stock worth $81,762,000 after purchasing an additional 207,632 shares during the period. Finally, Geneva Capital Management LLC raised its position in shares of Envestnet by 1.6% in the first quarter. Geneva Capital Management LLC now owns 1,070,976 shares of the business services provider’s stock valued at $62,020,000 after purchasing an additional 16,666 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.