Envestnet (NYSE:ENV) Earns Sell Rating from Analysts at StockNews.com

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

Other equities analysts have also recently issued research reports about the company. Raymond James cut Envestnet from a moderate buy rating to a hold rating in a report on Wednesday, July 17th. William Blair reiterated a market perform rating on shares of Envestnet in a research note on Thursday, July 11th. DA Davidson cut Envestnet from a buy rating to a neutral rating and dropped their price target for the company from $78.00 to $63.00 in a research note on Thursday, July 18th. Finally, UBS Group reaffirmed a neutral rating and set a $63.15 price objective (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Envestnet has an average rating of Hold and an average price target of $61.88.

Envestnet Stock Up 0.3 %

NYSE:ENV opened at $62.66 on Tuesday. Envestnet has a twelve month low of $33.12 and a twelve month high of $73.04. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -17.60 and a beta of 1.25. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.70. The stock’s 50 day moving average price is $62.35 and its two-hundred day moving average price is $61.63.

Envestnet (NYSE:ENV) last issued its earnings results on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). The firm had revenue of $348.30 million for the quarter, compared to analyst estimates of $342.90 million. Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. Envestnet’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Equities research analysts expect that Envestnet will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Envestnet

Institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in shares of Envestnet by 15.9% in the fourth quarter. Victory Capital Management Inc. now owns 11,482 shares of the business services provider’s stock valued at $569,000 after buying an additional 1,575 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Envestnet by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 508,579 shares of the business services provider’s stock valued at $25,185,000 after acquiring an additional 38,416 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Envestnet by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 971,916 shares of the business services provider’s stock worth $48,130,000 after purchasing an additional 6,415 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Envestnet by 40.0% in the fourth quarter. Principal Financial Group Inc. now owns 280,233 shares of the business services provider’s stock worth $13,877,000 after purchasing an additional 80,094 shares during the period. Finally, Norges Bank acquired a new position in Envestnet in the fourth quarter valued at about $25,319,000.

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.