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

StockNews.com initiated coverage on shares of Envestnet (NYSE:ENV) in a research report report published on Sunday morning. The brokerage issued a sell rating on the business services provider’s stock.

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

Envestnet Price Performance

Envestnet stock opened at $63.14 on Friday. The stock has a 50-day moving average price of $62.99 and a two-hundred day moving average price of $62.57. Envestnet has a 12 month low of $36.43 and a 12 month high of $73.04. The company has a market capitalization of $3.49 billion, a PE ratio of -13.24 and a beta of 1.25. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Innealta Capital LLC acquired a new stake in Envestnet during the second quarter worth approximately $46,000. Longfellow Investment Management Co. LLC bought a new position in shares of Envestnet during the 3rd quarter worth approximately $71,000. Quest Partners LLC grew its position in shares of Envestnet by 6,220.8% during the 2nd 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 period. SG Americas Securities LLC increased its stake in shares of Envestnet by 54.2% in the 3rd quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock valued at $168,000 after acquiring an additional 945 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Envestnet by 80.0% during the 2nd 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 during the period.

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.