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

Shares of Envestnet, Inc. (NYSE:ENV) have been given a consensus recommendation of “Hold” by the eight analysts that are covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $61.88.

A number of research analysts have recently commented on ENV shares. Raymond James lowered Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. StockNews.com started coverage on shares of Envestnet in a report on Tuesday. They issued a “sell” rating for the company. DA Davidson restated a “neutral” rating and issued a $63.00 price target on shares of Envestnet in a research report on Wednesday, September 18th. Finally, UBS Group reaffirmed a “neutral” rating and set a $63.15 price objective (down previously from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th.

Envestnet Price Performance

NYSE ENV opened at $62.92 on Wednesday. Envestnet has a 1 year low of $33.12 and a 1 year high of $73.04. The company has a fifty day simple moving average of $62.72 and a 200 day simple moving average of $63.10. 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 has a market cap of $3.48 billion, a P/E ratio of -13.19 and a beta of 1.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ENV. Price T Rowe Associates Inc. MD raised its stake in Envestnet by 45.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock worth $8,968,000 after acquiring an additional 48,057 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of Envestnet during the 1st quarter worth about $762,000. Natixis Advisors LLC bought a new position in Envestnet during the 2nd quarter valued at about $718,000. Dimensional Fund Advisors LP boosted its position 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 buying an additional 73,751 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in Envestnet during the second quarter worth about $2,482,000.

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.