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

Research analysts at StockNews.com have begun coverage on the stock Envestnet (NYSE:ENV – Get a Free Report) in a report published on Friday. The brokerage set a “sell” rating on the business services provider’s stock.

ENV has been the subject of a number of other research reports. Royal Bank of Canada boosted their price target on shares of Envestnet from $56.00 to $64.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 8th. DA Davidson downgraded Envestnet from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $78.00 to $63.00 in a research report on Thursday, July 18th. Jefferies Financial Group upgraded Envestnet from an “underperform” rating to a “hold” rating and raised their price target for the company from $47.00 to $59.00 in a research report on Wednesday, May 8th. . Raymond James cut Envestnet from a “moderate-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, UBS Group restated a “neutral” rating and set a $63.15 target price (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $61.88, according to MarketBeat.

Read the latest stock analysis on Envestnet

Envestnet stock fell 0.4%

ENV opened at $62.65 on Friday. The company’s 50-day moving average price is $62.01, and its two-hundred-day moving average price is $59.73. The company has a quick ratio of 1.19, a current ratio of 1.19, and a debt-to-equity ratio of 1.47. Envestnet has a 12-month low of $33.12 and a 12-month high of $73.04. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -17.60 and a beta of 1.28.

Envestnet (NYSE:ENV – Get Your Free Report ) last released its quarterly earnings data 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 negative net margin of 15.33% and a positive return on equity of 14.75%. The firm had revenue of $348.30 million during the quarter, compared to analysts’ expectations of $342.90 million. In the same quarter last year, the company posted EPS of $0.22. Envestnet’s revenue for the quarter was up 11.5% year over year. As a group, equities analysts expect that Envestnet will post 1.79 earnings per share for the current year.

Institutional inputs and outputs

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Envestnet during the fourth quarter valued at about $25,319,000. Maryland State Retirement & Pension System bought a new position in shares of Envestnet in the fourth quarter valued at about $895,000. Price T Rowe Associates Inc. MD raised its stake in shares of Envestnet by 45.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock worth $8,968,000 after buying an additional 48,057 shares during the period. Schroder Investment Management Group bought a new stake in Envestnet in the 4th quarter valued at $21,829,000. Finally, UniSuper Management Pty Ltd acquired a new stake in Envestnet in the first quarter valued at $762,000.

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.

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