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

Equities researchers at StockNews.com began 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.

Separately, DA Davidson reiterated a “neutral” rating and set a $63.00 price target on shares of Envestnet in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Envestnet presently has a consensus rating of “Hold” and a consensus price target of $61.88.

Envestnet Price Performance

Shares of NYSE:ENV opened at $63.14 on Thursday. The company’s fifty day moving average price is $62.78 and its 200 day moving average price is $63.06. Envestnet has a 12 month low of $36.43 and a 12 month high of $73.04. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $3.49 billion, a P/E ratio of -13.24 and a beta of 1.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Neo Ivy Capital Management purchased a new position in Envestnet during the 3rd quarter worth $1,072,000. Geode Capital Management LLC boosted its holdings in shares of Envestnet by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,134,530 shares of the business services provider’s stock valued at $71,058,000 after acquiring an additional 9,735 shares in the last quarter. MML Investors Services LLC boosted its holdings in shares of Envestnet by 11.9% in the third quarter. MML Investors Services LLC now owns 31,290 shares of the business services provider’s stock valued at $1,959,000 after acquiring an additional 3,319 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Envestnet by 337.4% in the third quarter. XTX Topco Ltd now owns 23,108 shares of the business services provider’s stock valued at $1,447,000 after acquiring an additional 17,825 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Envestnet by 5.9% in the third quarter. Jane Street Group LLC now owns 77,892 shares of the business services provider’s stock valued at $4,878,000 after acquiring an additional 4,324 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.