Envestnet (NYSE:ENV) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Envestnet (NYSE:ENV) in a research report sent to investors on Thursday morning. The firm issued a sell rating on the business services provider’s stock.

Separately, DA Davidson reiterated a “neutral” rating and issued a $63.00 target price on shares of Envestnet in a research note on Wednesday, September 18th. One 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.88.

Envestnet Stock Performance

ENV opened at $63.14 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a fifty day moving average price of $62.80 and a 200 day moving average price of $63.06. Envestnet has a 1 year low of $36.43 and a 1 year high of $73.04. The stock has a market cap of $3.49 billion, a P/E ratio of -13.24 and a beta of 1.25.

Hedge Funds Weigh In On Envestnet

A number of large investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management purchased a new stake in shares of Envestnet during the third quarter worth $1,072,000. Geode Capital Management LLC grew its holdings in shares of Envestnet by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,134,530 shares of the business services provider’s stock worth $71,058,000 after buying an additional 9,735 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of Envestnet by 11.9% during the third quarter. MML Investors Services LLC now owns 31,290 shares of the business services provider’s stock worth $1,959,000 after buying an additional 3,319 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Envestnet by 337.4% during the third quarter. XTX Topco Ltd now owns 23,108 shares of the business services provider’s stock worth $1,447,000 after buying an additional 17,825 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Envestnet by 5.9% during the third quarter. Jane Street Group LLC now owns 77,892 shares of the business services provider’s stock worth $4,878,000 after buying an additional 4,324 shares in 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.