Envestnet (NYSE:ENV) Rating Reiterated by DA Davidson

DA Davidson reiterated their neutral rating on shares of Envestnet (NYSE:ENV) in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a $63.00 price target on the business services provider’s stock.

Other equities research analysts have also issued research reports about the company. William Blair restated a market perform rating on shares of Envestnet in a research report on Thursday, July 11th. Raymond James lowered Envestnet from a moderate buy rating to a hold rating in a research report on Wednesday, July 17th. StockNews.com began coverage on Envestnet in a research report on Tuesday. They set a sell rating on the stock. Finally, UBS Group reiterated a neutral rating and issued a $63.15 price target (down previously from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Envestnet has an average rating of Hold and a consensus target price of $61.88.

Envestnet Trading Up 0.0 %

Shares of ENV stock opened at $62.69 on Wednesday. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -17.61 and a beta of 1.25. The stock has a 50-day moving average of $62.37 and a 200-day moving average of $61.70. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.70. Envestnet has a 1-year low of $33.12 and a 1-year high of $73.04.

Envestnet (NYSE:ENV) last announced 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). Envestnet had a negative net margin of 19.33% and a positive return on equity of 17.02%. The business had revenue of $348.30 million for the quarter, compared to the consensus estimate of $342.90 million. During the same quarter in the previous year, the company earned $0.22 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts forecast that Envestnet will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. YHB Investment Advisors Inc. bought a new position in shares of Envestnet in the first quarter valued at approximately $38,000. Innealta Capital LLC bought a new position in shares of Envestnet in the second quarter valued at approximately $46,000. Quest Partners LLC bought a new position in shares of Envestnet in the fourth quarter valued at approximately $58,000. SG Americas Securities LLC bought a new position in shares of Envestnet in the first quarter valued at approximately $168,000. Finally, Federated Hermes Inc. lifted its holdings 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 purchasing an additional 1,200 shares in 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.