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

Envestnet, Inc. (NYSE:ENV) has earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $61.88.

A number of analysts recently weighed in on the stock. UBS Group reissued a “neutral” rating and issued a $63.15 price objective (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. DA Davidson reaffirmed a “neutral” rating and set a $63.00 target price on shares of Envestnet in a research report on Wednesday, September 18th. William Blair reaffirmed a “market perform” rating on shares of Envestnet in a research report on Thursday, July 11th. Raymond James lowered shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, StockNews.com initiated coverage on shares of Envestnet in a research report on Wednesday, September 25th. They set a “sell” rating on the stock.

Hedge Funds Weigh In On Envestnet

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Envestnet by 1.4% during the first quarter. Vanguard Group Inc. now owns 6,098,535 shares of the business services provider’s stock valued at $353,166,000 after buying an additional 83,081 shares during the period. Impactive Capital LP increased its holdings in Envestnet by 0.8% during the first quarter. Impactive Capital LP now owns 4,183,865 shares of the business services provider’s stock valued at $242,288,000 after buying an additional 32,832 shares during the period. Hsbc Holdings PLC increased its holdings in Envestnet by 20,229.7% during the fourth quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock valued at $90,027,000 after buying an additional 1,816,020 shares during the period. Stephens Investment Management Group LLC increased its holdings in Envestnet by 14.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider’s stock valued at $81,762,000 after buying an additional 207,632 shares during the period. Finally, Geneva Capital Management LLC grew its holdings in Envestnet by 1.6% in the first quarter. Geneva Capital Management LLC now owns 1,070,976 shares of the business services provider’s stock worth $62,020,000 after purchasing an additional 16,666 shares during the last quarter.

Envestnet Stock Performance

Envestnet stock opened at $62.61 on Tuesday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.14 and a quick ratio of 1.14. Envestnet has a 1-year low of $33.12 and a 1-year high of $73.04. The firm has a market capitalization of $3.45 billion, a P/E ratio of -17.59 and a beta of 1.25. The company’s 50-day moving average is $62.46 and its 200 day moving average is $62.13.

Envestnet (NYSE:ENV) last posted its quarterly earnings data on Friday, August 9th. The business services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). Envestnet had a positive return on equity of 17.02% and a negative net margin of 19.33%. The firm had revenue of $348.30 million during the quarter, compared to analysts’ expectations of $342.90 million. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Research analysts forecast that Envestnet will post 1.71 EPS for the current year.

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.