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

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

A number of other brokerages have also recently commented on ENV. UBS Group reaffirmed a “neutral” rating and issued a $63.15 price target (down from $75.00) on shares of Envestnet in a research note on Tuesday, July 16th. DA Davidson restated a “neutral” rating and issued a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. Finally, Raymond James downgraded shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Envestnet presently has an average rating of “Hold” and an average target price of $61.88.

Envestnet Stock Performance

Shares of NYSE:ENV opened at $62.98 on Tuesday. The company’s fifty day moving average is $62.72 and its 200 day moving average is $63.10. The company has a current ratio of 0.59, a quick ratio of 1.14 and a debt-to-equity ratio of 1.07. Envestnet has a 52 week low of $36.01 and a 52 week high of $73.04.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ENV. Arizona State Retirement System boosted its position in Envestnet by 2.5% in the second quarter. Arizona State Retirement System now owns 11,552 shares of the business services provider’s stock worth $723,000 after purchasing an additional 286 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Envestnet by 8.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,803 shares of the business services provider’s stock worth $363,000 after purchasing an additional 439 shares in the last quarter. Natixis lifted its position in shares of Envestnet by 12.9% in the first quarter. Natixis now owns 4,767 shares of the business services provider’s stock worth $276,000 after buying an additional 544 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Envestnet by 2.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the business services provider’s stock valued at $1,577,000 after acquiring an additional 600 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its position in Envestnet by 9.2% during the second quarter. Benjamin Edwards Inc. now owns 7,781 shares of the business services provider’s stock valued at $487,000 after purchasing an additional 658 shares during the last quarter.

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.