Envestnet (NYSE:ENV) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Envestnet (NYSE:ENV) in a research note issued to investors on Wednesday. The firm issued a sell rating on the business services provider’s stock.

ENV has been the subject of a number of other reports. JMP Securities reiterated a market outperform rating and set a $79.00 price target on shares of Envestnet in a report on Wednesday, April 17th. UBS Group reiterated a neutral rating and set a $63.15 price target (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Jefferies Financial Group upgraded Envestnet from an underperform rating to a hold rating and increased their price target for the stock from $47.00 to $59.00 in a report on Wednesday, May 8th. Raymond James cut Envestnet from a moderate buy rating to a hold rating in a report on Wednesday, July 17th. Finally, Royal Bank of Canada increased their price target on Envestnet from $56.00 to $64.00 and gave the stock a sector perform rating in a report on Wednesday, May 8th. One equities research 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 MarketBeat.com, Envestnet currently has a consensus rating of Hold and an average price target of $61.88.

Envestnet Stock Down 0.0 %

Shares of NYSE:ENV opened at $61.92 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.47. The business has a fifty day moving average of $62.79 and a two-hundred day moving average of $58.95. The stock has a market cap of $3.41 billion, a P/E ratio of -17.39 and a beta of 1.28. Envestnet has a 52-week low of $33.12 and a 52-week high of $73.04.

Envestnet (NYSE:ENV) last issued its earnings results on Tuesday, May 7th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $324.95 million during the quarter, compared to analysts’ expectations of $324.85 million. Envestnet had a positive return on equity of 14.75% and a negative net margin of 15.33%. On average, research analysts expect that Envestnet will post 1.79 earnings per share for the current year.

Institutional Investors Weigh In On Envestnet

A number of hedge funds have recently bought and sold shares of ENV. Hsbc Holdings PLC raised its position in Envestnet by 20,229.7% in the 4th quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock valued at $90,027,000 after purchasing an additional 1,816,020 shares in the last quarter. Vanguard Group Inc. raised its position in Envestnet by 12.9% in the 4th quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock valued at $297,885,000 after purchasing an additional 687,202 shares in the last quarter. Norges Bank acquired a new stake in Envestnet in the 4th quarter valued at about $25,319,000. Schroder Investment Management Group acquired a new stake in Envestnet in the 4th quarter valued at about $21,829,000. Finally, One Fin Capital Management LP acquired a new stake in Envestnet in the 4th quarter valued at about $14,336,000.

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.