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

Envestnet, Inc. (NYSE:ENV) has earned an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $61.88.

Several brokerages have recently commented on ENV. StockNews.com started coverage on shares of Envestnet in a report on Friday, December 6th. They issued a “sell” rating for the company. 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.

Hedge Funds Weigh In On Envestnet

A number of large investors have recently modified their holdings of ENV. Innealta Capital LLC bought a new position in shares of Envestnet in the second quarter valued at approximately $46,000. Longfellow Investment Management Co. LLC bought a new position in shares of Envestnet in the third quarter valued at approximately $71,000. Quest Partners LLC boosted its position in shares of Envestnet by 6,220.8% in the second quarter. Quest Partners LLC now owns 1,517 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 1,493 shares during the period. SG Americas Securities LLC boosted its position in shares of Envestnet by 54.2% in the third quarter. SG Americas Securities LLC now owns 2,687 shares of the business services provider’s stock valued at $168,000 after acquiring an additional 945 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Envestnet by 80.0% in the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock valued at $169,000 after acquiring an additional 1,200 shares during the period.

Envestnet Price Performance

Envestnet stock opened at $63.14 on Friday. Envestnet has a 1-year low of $36.43 and a 1-year high of $73.04. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -13.24 and a beta of 1.25. The firm’s fifty day moving average price is $62.92 and its two-hundred day moving average price is $62.78. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07.

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.