Envestnet (NYSE:ENV) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Envestnet (NYSE:ENV) in a report issued on Thursday. The firm issued a sell rating on the business services provider’s stock.

Several other research analysts have also weighed in on the company. JMP Securities reiterated a market outperform rating and set a $79.00 target price on shares of Envestnet in a report on Wednesday, April 17th. DA Davidson cut Envestnet from a buy rating to a neutral rating and reduced their price objective for the stock from $78.00 to $63.00 in a research report on Thursday, July 18th. Jefferies Financial Group raised Envestnet from an underperform rating to a hold rating and lifted their target price for the company from $47.00 to $59.00 in a research report on Wednesday, May 8th. Royal Bank of Canada upped their price target on Envestnet from $56.00 to $64.00 and gave the stock a sector perform rating in a research report on Wednesday, May 8th. Finally, Raymond James cut shares of Envestnet from a moderate buy rating to a hold rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $61.88.

Envestnet Trading Up 0.0 %

Shares of NYSE:ENV traded up $0.01 during midday trading on Thursday, hitting $62.02. The company had a trading volume of 570,789 shares, compared to its average volume of 676,338. The firm has a fifty day simple moving average of $62.31 and a 200 day simple moving average of $59.29. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.47. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of -17.42 and a beta of 1.28. Envestnet has a 12 month low of $33.12 and a 12 month high of $73.04.

Envestnet (NYSE:ENV) last posted its earnings results on Tuesday, May 7th. The business services provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $324.95 million for the quarter, compared to analyst estimates of $324.85 million. Envestnet had a positive return on equity of 14.75% and a negative net margin of 15.33%. On average, analysts predict that Envestnet will post 1.79 EPS for the current year.

Institutional Investors Weigh In On Envestnet

Large investors have recently made changes to their positions in the stock. YHB Investment Advisors Inc. acquired a new stake in shares of Envestnet in the 1st quarter valued at approximately $38,000. Innealta Capital LLC acquired a new stake in shares of Envestnet in the 2nd quarter valued at approximately $46,000. Quest Partners LLC acquired a new stake in shares of Envestnet in the 4th quarter valued at approximately $58,000. Federated Hermes Inc. boosted its holdings in shares of Envestnet by 80.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after buying an additional 1,200 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Envestnet in the 1st quarter valued at approximately $168,000.

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.