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

Equities researchers at StockNews.com initiated coverage on shares of Envestnet (NYSE:ENV) in a research note issued to investors on Sunday. The brokerage set a “sell” rating on the business services provider’s stock.

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

Envestnet Stock Performance

NYSE ENV opened at $62.75 on Friday. The company’s 50 day simple moving average is $62.70 and its two-hundred day simple moving average is $62.92. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14. Envestnet has a 1 year low of $33.12 and a 1 year high of $73.04. The stock has a market capitalization of $3.47 billion, a PE ratio of -13.61 and a beta of 1.25.

Envestnet (NYSE:ENV) last issued its quarterly earnings data 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). Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The business had revenue of $348.30 million during the quarter, compared to analysts’ expectations of $342.90 million. During the same quarter last year, the business posted $0.22 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Analysts predict that Envestnet will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Envestnet

A number of large investors have recently bought and sold shares of ENV. Price T Rowe Associates Inc. MD grew its holdings in Envestnet by 45.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock worth $8,968,000 after acquiring an additional 48,057 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Envestnet in the first quarter worth about $762,000. Vanguard Group Inc. grew its stake in shares of Envestnet by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock worth $297,885,000 after purchasing an additional 687,202 shares during the last quarter. Natixis Advisors LLC purchased a new position in Envestnet during the 2nd quarter valued at about $718,000. Finally, Dimensional Fund Advisors LP raised its position in Envestnet by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock valued at $65,057,000 after purchasing an additional 73,751 shares during the last quarter.

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.