Envestnet (NYSE:ENV) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Envestnet (NYSE:ENV) in a note issued to investors on Monday. The brokerage set a “sell” rating on the business services provider’s stock.

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

Envestnet Stock Performance

ENV opened at $63.14 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25. Envestnet has a 12 month low of $36.43 and a 12 month high of $73.04. The stock has a fifty day moving average price of $63.02 and a 200-day moving average price of $62.59.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ENV. Longfellow Investment Management Co. LLC acquired a new stake in Envestnet during the 3rd quarter worth about $71,000. Quest Partners LLC boosted its stake in shares of Envestnet by 6,220.8% in the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock worth $95,000 after buying an additional 1,493 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Envestnet by 54.2% in the third quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock worth $168,000 after buying an additional 945 shares during the last quarter. 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 valued at $169,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Envestnet in the second quarter valued at approximately $212,000.

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.