Envestnet (NYSE:ENV) Now Covered by Analysts at StockNews.com

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

Separately, DA Davidson reissued a “neutral” rating and set a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Envestnet presently has an average rating of “Hold” and a consensus price target of $61.88.

Envestnet Price Performance

Shares of NYSE:ENV opened at $63.14 on Thursday. The company has a market cap of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25. The firm’s 50-day simple moving average is $62.78 and its 200-day simple moving average is $63.06. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. Envestnet has a fifty-two week low of $36.43 and a fifty-two week high of $73.04.

Institutional Trading of Envestnet

A number of institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in Envestnet during the second quarter worth about $46,000. Longfellow Investment Management Co. LLC acquired a new position in Envestnet during the third quarter worth about $71,000. Quest Partners LLC raised its position in Envestnet by 6,220.8% during the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock worth $95,000 after acquiring an additional 1,493 shares during the last quarter. SG Americas Securities LLC raised its position in Envestnet by 54.2% during the third quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock worth $168,000 after acquiring an additional 945 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in Envestnet by 80.0% during the second 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 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.