Envestnet (NYSE:ENV) Sees Large Volume Increase

Envestnet, Inc. (NYSE:ENV) shares saw unusually-strong trading volume on Thursday . Approximately 177,772 shares were traded during trading, a decline of 71% from the previous session’s volume of 620,494 shares.The stock last traded at $61.61 and had previously closed at $61.62.

Analyst Upgrades and Downgrades

ENV has been the subject of several analyst reports. Raymond James boosted their target price on shares of Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. UBS Group reiterated a “neutral” rating and issued a $63.15 price target (down previously from $75.00) on shares of Envestnet in a research note on Tuesday. StockNews.com downgraded Envestnet from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. William Blair reissued a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. Finally, DA Davidson cut shares of Envestnet from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $78.00 to $63.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.88.

Envestnet Price Performance

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.47. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -17.31 and a beta of 1.28. The company has a 50 day moving average price of $64.07 and a 200-day moving average price of $58.01.

Envestnet (NYSE:ENV) last posted its quarterly earnings data on Tuesday, May 7th. The business services provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $324.95 million during the quarter, compared to the consensus estimate of $324.85 million. Envestnet had a positive return on equity of 14.75% and a negative net margin of 15.33%. As a group, equities research analysts predict that Envestnet, Inc. will post 1.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Envestnet

Hedge funds have recently made changes to their positions in the stock. YHB Investment Advisors Inc. acquired a new position in Envestnet in the first quarter valued at $38,000. Quest Partners LLC bought a new position in shares of Envestnet in the 4th quarter worth about $58,000. SG Americas Securities LLC acquired a new position in shares of Envestnet in the 1st quarter valued at about $168,000. Cetera Advisors LLC bought a new stake in shares of Envestnet during the 1st quarter valued at about $222,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in Envestnet in the first quarter worth approximately $228,000.

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.