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

Equities research analysts at StockNews.com assumed coverage on shares of Envestnet (NYSE:ENV – Get Rating) in a report issued on Thursday. The brokerage set a “sell” rating on the business services provider’s stock.

A number of other equities analysts also recently weighed in on ENV. Raymond James downgraded Envestnet from a “strong-buy” rating to an “outperform” rating and boosted their price target for the stock from $63.00 to $71.00 in a research report on Friday, January 6th. DA Davidson boosted their price target on Envestnet from $70.00 to $74.00 in a research note on Wednesday, January 4th. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price target on shares of Envestnet in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Envestnet from $53.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, January 23rd. Finally, Jefferies Financial Group boosted their price objective on shares of Envestnet from $40.00 to $47.00 in a research report on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Envestnet presently has a consensus rating of “Hold” and an average target price of $63.63.

Envestnet Price Performance

NYSE:ENV opened at $52.96 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s 50-day simple moving average is $63.99 and its 200 day simple moving average is $56.71. The company has a market cap of $2.86 billion, a P/E ratio of -32.10 and a beta of 1.22. Envestnet has a 52-week low of $41.72 and a 52-week high of $84.58.

Institutional Investors Weigh In On Envestnet

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENV. McIlrath & Eck LLC boosted its holdings in Envestnet by 140.8% in the 4th quarter. McIlrath & Eck LLC now owns 802 shares of the business services provider’s stock worth $49,000 after buying an additional 469 shares during the period. FourThought Financial LLC lifted its holdings in shares of Envestnet by 51.5% during the 3rd quarter. FourThought Financial LLC now owns 2,111 shares of the business services provider’s stock worth $94,000 after acquiring an additional 718 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Envestnet by 86.2% during the 1st quarter. Covestor Ltd now owns 1,398 shares of the business services provider’s stock worth $104,000 after acquiring an additional 647 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Envestnet by 25.0% during the 3rd quarter. Huntington National Bank now owns 2,417 shares of the business services provider’s stock worth $108,000 after acquiring an additional 483 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Envestnet during the 3rd quarter worth $112,000.

Envestnet Company Profile

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Envestnet, Inc engages in the provision of intelligent systems for wealth management and financial wellness. It operates through the following segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment provides unified wealth management software and services to empower financial advisors and institutions.