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

StockNews.com began coverage on shares of Envestnet (NYSE:ENV) in a research report issued on Wednesday. The brokerage set a “sell” rating on the business services provider’s stock.

Several other research analysts have also recently issued reports on ENV. UBS Group reaffirmed a “neutral” rating and issued a $63.15 target price (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. William Blair reiterated a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. Finally, DA Davidson restated a “neutral” rating and issued 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 given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Envestnet currently has a consensus rating of “Hold” and a consensus target price of $61.88.

Envestnet Trading Up 0.1 %

Shares of NYSE ENV opened at $62.53 on Wednesday. Envestnet has a 1 year low of $33.12 and a 1 year high of $73.04. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a 50-day moving average of $62.44 and a 200 day moving average of $61.98. The stock has a market cap of $3.45 billion, a P/E ratio of -17.56 and a beta of 1.25.

Envestnet (NYSE:ENV) last issued its quarterly 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 positive return on equity of 17.02% and a negative net margin of 19.33%. The company had revenue of $348.30 million during the quarter, compared to the consensus estimate of $342.90 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, sell-side analysts expect that Envestnet will post 1.71 EPS for the current fiscal year.

Institutional Trading of Envestnet

Several large investors have recently modified their holdings of ENV. Arizona State Retirement System lifted its holdings in Envestnet by 2.5% in the second quarter. Arizona State Retirement System now owns 11,552 shares of the business services provider’s stock valued at $723,000 after acquiring an additional 286 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Envestnet by 2.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider’s stock worth $1,633,000 after purchasing an additional 543 shares during the period. Natixis boosted its holdings in shares of Envestnet by 12.9% in the first quarter. Natixis now owns 4,767 shares of the business services provider’s stock worth $276,000 after buying an additional 544 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Envestnet by 2.4% during the second quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider’s stock valued at $1,577,000 after buying an additional 600 shares during the period. Finally, Illinois Municipal Retirement Fund increased its holdings in Envestnet by 2.2% during the first quarter. Illinois Municipal Retirement Fund now owns 28,271 shares of the business services provider’s stock valued at $1,637,000 after buying an additional 619 shares during 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.