Envestnet (NYSE:ENV) Earns “Neutral” Rating from UBS Group

UBS Group reiterated their neutral rating on shares of Envestnet (NYSE:ENV) in a research report released on Tuesday, MarketBeat.com reports. UBS Group currently has a $63.15 target price on the business services provider’s stock, down from their prior target price of $75.00.

Other equities research analysts have also recently issued research reports about the company. Raymond James increased their target price on Envestnet from $52.00 to $60.00 and gave the company an outperform rating in a report on Tuesday, April 2nd. William Blair reiterated a market perform rating on shares of Envestnet in a report on Thursday, July 11th. DA Davidson increased their target price on Envestnet from $62.00 to $67.00 and gave the company a buy rating in a report on Tuesday, April 2nd. Royal Bank of Canada raised their price objective on Envestnet from $56.00 to $64.00 and gave the stock a sector perform rating in a report on Wednesday, May 8th. Finally, Jefferies Financial Group upgraded Envestnet from an underperform rating to a hold rating and raised their price objective for the stock from $47.00 to $59.00 in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Envestnet currently has a consensus rating of Hold and an average target price of $61.88.

Envestnet Stock Down 0.1 %

NYSE ENV opened at $61.54 on Tuesday. Envestnet has a 1-year low of $33.12 and a 1-year high of $73.04. The business has a 50 day moving average price of $63.97 and a 200 day moving average price of $58.04. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.47.

Envestnet (NYSE:ENV) last released its quarterly earnings data on Tuesday, May 7th. The business services provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. Envestnet had a positive return on equity of 14.75% and a negative net margin of 15.33%. The firm had revenue of $324.95 million during the quarter, compared to the consensus estimate of $324.85 million. As a group, analysts anticipate that Envestnet will post 1.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. acquired a new position in Envestnet in the first quarter valued at $38,000. Quest Partners LLC acquired a new position in Envestnet in the fourth quarter valued at $58,000. SG Americas Securities LLC purchased a new position in Envestnet in the first quarter valued at about $168,000. Cetera Advisors LLC purchased a new position in Envestnet in the first quarter valued at about $222,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Envestnet in the first quarter valued at about $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.