Envestnet, Inc. (NYSE:ENV) short interest rose 7.5% in August

Envestnet, Inc. (NYSE:ENV – Get Free Report ) was the beneficiary of a large increase in short interest in August. As of August 15th, there was short interest totaling 2,860,000 shares, an increase of 7.5% from July 31st’s total of 2,660,000 shares. Based on an average daily volume of 1,040,000 shares, the short interest rate is currently 2.8 days.

Hedge funds influence Envestnet

Several large investors have recently added to or reduced their stakes in ENV. Hsbc Holdings PLC boosted its stake in Envestnet by 20,229.7% during 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 acquiring an additional 1,816,020 shares in the last quarter. Vanguard Group Inc. raised its holdings in Envestnet by 12.9% in the fourth 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 during the period. Engaged Capital LLC boosted its holdings in Envestnet by 479.8% in the second quarter. Engaged Capital LLC now owns 692,483 shares of the business services provider’s stock valued at $43,343,000 after buying an additional 573,049 shares during the period. Norges Bank purchased a new position in Envestnet during the fourth quarter valued at about $25,319,000. Finally, Schroder Investment Management Group purchased a new position in Envestnet in the fourth quarter valued at about $21,829,000.

Analysts on Wall Street are forecasting an increase

A number of research firms have commented on ENV. Raymond James downgraded Envestnet from a “moderate-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group reissued a “neutral” rating and issued a $63.15 price objective (down from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. Jefferies Financial Group upgraded shares of Envestnet from an “underperform” rating to a “hold” rating and upped their target price for the company from $47.00 to $59.00 in a report on Wednesday, May 8th. Royal Bank of Canada upped their target price on shares of Envestnet from $56.00 to $64.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. Finally, DA Davidson cut shares of Envestnet from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $78.00 to $63.00 in a note research on Thursday, July 18. 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $61.88.

Check out the latest stock report on ENV

Envestnet stock performance

NYSE:ENV opened at $62.84 on Wednesday. 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 firm has a market cap of $3.46 billion, a PE ratio of -17.65 and a beta of 1.28. The firm has a 50-day simple moving average of $62.28 and a 200-day simple moving average of $60.77. Envestnet has a 1 year low of $33.12 and a 1 year high of $73.04.

Envestnet (NYSE:ENV – Get Free Report ) last posted its quarterly earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.07). Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The business had revenue of $348.30 million during the quarter, compared to analyst estimates of $342.90 million. In the same quarter last year, the company posted earnings of $0.22 per share. The company’s revenue increased by 11.5% year-on-year. On average, equities analysts expect that Envestnet will post 1.76 EPS for the current year.

About Envestnet

(Get a free report)

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 that also offers data aggregation and reporting, data analytics and digital advisory capabilities; Envestnet | Wealth Analytics that turns data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting and client relationship management software; and Envestnet | MoneyGuide providing goal-based financial planning solutions to the financial services industry.

See Also

Get news and reviews for Envestnet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Envestnet and related companies with MarketBeat.com’s FREE daily email newsletter.