StockNews.com Begins Coverage on Envestnet (NYSE:ENV)

Equities research analysts at StockNews.com assumed coverage on shares of Envestnet (NYSE:ENV) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the business services provider’s stock.

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

Envestnet Stock Performance

Shares of Envestnet stock opened at $63.07 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. The company has a market cap of $3.49 billion, a PE ratio of -13.22 and a beta of 1.25. The company has a 50 day moving average of $62.73 and a 200-day moving average of $63.11. Envestnet has a 1-year low of $36.43 and a 1-year high of $73.04.

Hedge Funds Weigh In On Envestnet

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Envestnet by 45.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 154,843 shares of the business services provider’s stock worth $8,968,000 after purchasing an additional 48,057 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in Envestnet in the 1st quarter valued at approximately $762,000. Natixis Advisors LLC bought a new position in shares of Envestnet during the second quarter valued at $718,000. Dimensional Fund Advisors LP lifted its holdings in shares of Envestnet by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,039,402 shares of the business services provider’s stock worth $65,057,000 after purchasing an additional 73,751 shares during the period. Finally, ClariVest Asset Management LLC bought a new stake in shares of Envestnet in the second quarter worth $2,482,000.

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.