Envestnet (NYSE:ENV) Stock Rating Reaffirmed by DA Davidson

Envestnet (NYSE:ENV)‘s stock had its “neutral” rating restated by equities research analysts at DA Davidson in a report released on Wednesday, Benzinga reports. They currently have a $63.00 price target on the business services provider’s stock. DA Davidson’s price objective suggests a potential upside of 0.54% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. William Blair reissued a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. UBS Group restated a “neutral” rating and issued a $63.15 target price (down from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. Finally, StockNews.com initiated coverage on Envestnet in a research report on Tuesday. They set a “sell” rating for the company. One investment 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 data from MarketBeat.com, Envestnet presently has a consensus rating of “Hold” and an average price target of $61.88.

Envestnet Trading Up 0.3 %

NYSE:ENV opened at $62.66 on Wednesday. Envestnet has a 1 year low of $33.12 and a 1 year high of $73.04. The stock’s fifty day moving average price is $62.35 and its two-hundred day moving average price is $61.63. 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 company has a market cap of $3.45 billion, a P/E ratio of -17.60 and a beta of 1.25.

Envestnet (NYSE:ENV) last issued its earnings results on Friday, August 9th. The business services provider reported $0.55 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the business earned $0.22 EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, analysts expect that Envestnet will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Envestnet

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its position in Envestnet by 15.9% during the fourth quarter. Victory Capital Management Inc. now owns 11,482 shares of the business services provider’s stock valued at $569,000 after acquiring an additional 1,575 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Envestnet by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 508,579 shares of the business services provider’s stock valued at $25,185,000 after purchasing an additional 38,416 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Envestnet by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 971,916 shares of the business services provider’s stock valued at $48,130,000 after purchasing an additional 6,415 shares during the last quarter. Principal Financial Group Inc. raised its position in Envestnet by 40.0% in the 4th quarter. Principal Financial Group Inc. now owns 280,233 shares of the business services provider’s stock worth $13,877,000 after purchasing an additional 80,094 shares during the period. Finally, Norges Bank bought a new stake in Envestnet in the fourth quarter worth $25,319,000.

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.