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

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

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

Envestnet Stock Performance

Shares of ENV stock opened at $63.14 on Thursday. 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 52-week low of $36.43 and a 52-week high of $73.04. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.07. The company’s 50 day moving average is $62.81 and its 200 day moving average is $62.99.

Institutional Trading of Envestnet

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System grew its position in Envestnet by 2.5% during the second quarter. Arizona State Retirement System now owns 11,552 shares of the business services provider’s stock valued at $723,000 after buying an additional 286 shares during the period. Farther Finance Advisors LLC grew its position in shares of Envestnet by 8.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,803 shares of the business services provider’s stock valued at $363,000 after acquiring an additional 439 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Envestnet by 2.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider’s stock valued at $1,577,000 after purchasing an additional 600 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Envestnet by 9.2% in the 2nd quarter. Benjamin Edwards Inc. now owns 7,781 shares of the business services provider’s stock worth $487,000 after purchasing an additional 658 shares during the period. Finally, Innealta Capital LLC purchased a new position in Envestnet during the second quarter worth approximately $46,000.

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.