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

StockNews.com started coverage on shares of Envestnet (NYSE:ENV) in a research report released on Sunday. The brokerage issued a sell rating on the business services provider’s stock.

Separately, DA Davidson restated a “neutral” rating and set a $63.00 target price on shares of Envestnet in a research report 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.88.

Envestnet Stock Performance

NYSE:ENV opened at $63.14 on Friday. The firm has a market capitalization of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25. 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 12-month low of $36.43 and a 12-month high of $73.04. The firm has a 50-day moving average price of $62.98 and a 200 day moving average price of $62.58.

Hedge Funds Weigh In On Envestnet

Several institutional investors have recently bought and sold shares of the business. Natixis Advisors LLC acquired a new stake in shares of Envestnet in the second quarter valued at $718,000. Dimensional Fund Advisors LP increased its position in Envestnet by 7.6% in 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 acquiring an additional 73,751 shares in the last quarter. ClariVest Asset Management LLC bought a new position in shares of Envestnet in the second quarter worth about $2,482,000. Engaged Capital LLC lifted its position in shares of Envestnet by 479.8% during the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock worth $43,343,000 after purchasing an additional 573,049 shares in the last quarter. Finally, Algert Global LLC grew its stake in shares of Envestnet by 455.4% during the third quarter. Algert Global LLC now owns 23,071 shares of the business services provider’s stock valued at $1,445,000 after purchasing an additional 18,917 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.