Envestnet, Inc. (NYSE:ENV) Receives Average Rating of “Hold” from Brokerages

Shares of Envestnet, Inc. (NYSE:ENV) have received a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $61.88.

A number of research firms recently issued reports on ENV. Raymond James lowered Envestnet from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. UBS Group restated a “neutral” rating and issued a $63.15 price objective (down previously from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. StockNews.com began coverage on shares of Envestnet in a research report on Wednesday. They set a “sell” rating for the company. William Blair reissued a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Envestnet in a research note on Wednesday, September 18th.

Envestnet Stock Up 0.1 %

NYSE:ENV opened at $62.61 on Tuesday. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -17.59 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. Envestnet has a 52 week low of $33.12 and a 52 week high of $73.04. The stock’s fifty day moving average is $62.46 and its two-hundred day moving average is $62.03.

Envestnet (NYSE:ENV) last posted its earnings results on Friday, August 9th. The business services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.07). The business had revenue of $348.30 million during the quarter, compared to analysts’ expectations of $342.90 million. Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $0.22 EPS. Research analysts anticipate that Envestnet will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Envestnet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Truist Financial Corp lifted its holdings in Envestnet by 27.8% in the 2nd quarter. Truist Financial Corp now owns 15,489 shares of the business services provider’s stock worth $969,000 after buying an additional 3,370 shares in the last quarter. Algert Global LLC bought a new stake in shares of Envestnet during the 2nd quarter valued at about $260,000. Select Equity Group L.P. grew its position in Envestnet by 25.5% in the 2nd quarter. Select Equity Group L.P. now owns 15,458 shares of the business services provider’s stock worth $968,000 after purchasing an additional 3,138 shares during the last quarter. Mackenzie Financial Corp bought a new position in Envestnet in the 2nd quarter worth about $212,000. Finally, The Manufacturers Life Insurance Company grew its position in Envestnet by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,643 shares of the business services provider’s stock worth $1,855,000 after purchasing an additional 1,051 shares during the last quarter.

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.