Envestnet (NYSE:ENV) Research Coverage Started at StockNews.com

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

ENV has been the subject of several other research reports. UBS Group restated a “neutral” rating and set a $63.15 price target (down previously from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. Raymond James cut Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, DA Davidson reissued a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.88.

Envestnet Stock Up 0.0 %

Shares of NYSE:ENV opened at $62.98 on Tuesday. The company’s 50-day moving average is $62.72 and its 200 day moving average is $63.10. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 1.14. Envestnet has a fifty-two week low of $36.01 and a fifty-two week high of $73.04.

Institutional Investors Weigh In On Envestnet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Centiva Capital LP bought a new stake in Envestnet during the third quarter valued at $6,957,000. Cinctive Capital Management LP purchased a new stake in shares of Envestnet in the 3rd quarter valued at about $1,267,000. ClearAlpha Technologies LP bought a new stake in shares of Envestnet during the 3rd quarter valued at about $2,127,000. Athos Capital Ltd purchased a new position in shares of Envestnet during the third quarter worth about $3,131,000. Finally, Westchester Capital Management LLC bought a new position in shares of Envestnet in the 3rd quarter worth $45,746,000.

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.