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

Stock analysts at StockNews.com assumed coverage on shares of Envestnet (NYSE:ENV) in a report issued on Tuesday. The brokerage set a “sell” rating on the business services provider’s stock.

Other equities research analysts have also issued reports about the stock. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. DA Davidson restated a “neutral” rating and set a $63.00 price target on shares of Envestnet in a research note on Wednesday, September 18th. Finally, UBS Group restated a “neutral” rating and set a $63.15 price target (down previously from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $61.88.

Envestnet Stock Up 0.0 %

Shares of ENV stock opened at $62.98 on Tuesday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -13.20 and a beta of 1.25. Envestnet has a 12-month low of $33.12 and a 12-month high of $73.04. The firm has a fifty day moving average of $62.71 and a 200-day moving average of $63.10. 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 (NYSE:ENV) last posted 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 company had revenue of $348.30 million for the quarter, compared to analyst estimates of $342.90 million. Envestnet had a positive return on equity of 20.32% and a negative net margin of 19.56%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS. As a group, equities research analysts predict that Envestnet will post 1.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in Envestnet in the second quarter valued at $46,000. Quest Partners LLC increased its position in shares of Envestnet by 6,220.8% during the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 1,493 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Envestnet by 54.2% during the 3rd quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 945 shares during the last quarter. Federated Hermes Inc. increased its holdings in Envestnet by 80.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in Envestnet in the 2nd quarter worth approximately $191,000.

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.