Envestnet (NYSE:ENV) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Envestnet (NYSE:ENV) in a research report issued to clients and investors on Friday. The brokerage set a “sell” rating on the business services provider’s stock.

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

Envestnet Trading Down 0.0 %

Shares of ENV stock opened at $62.62 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $73.04. The firm’s 50 day moving average price is $62.59 and its two-hundred day moving average price is $62.50. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -17.59 and a beta of 1.25.

Envestnet (NYSE:ENV) last issued its 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 business had revenue of $348.30 million during the quarter, compared to analysts’ expectations of $342.90 million. During the same period in the prior year, the business posted $0.22 EPS. The business’s revenue was up 11.5% on a year-over-year basis. On average, analysts anticipate that Envestnet will post 1.71 EPS for the current year.

Institutional Trading of Envestnet

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings 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 purchasing an additional 83,081 shares during the period. Impactive Capital LP raised its stake in Envestnet by 0.8% during the first 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 period. Geneva Capital Management LLC lifted its holdings in 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 worth $62,020,000 after acquiring an additional 16,666 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Envestnet by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock valued at $65,057,000 after acquiring an additional 73,751 shares during the period. Finally, Engaged Capital LLC grew its holdings in shares of Envestnet by 479.8% during the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock valued at $43,343,000 after purchasing an additional 573,049 shares during the last quarter.

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.