Short Interest in Envestnet, Inc. (NYSE:ENV) Decreases By 35.6%

Envestnet, Inc. (NYSE:ENV) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 2,320,000 shares, a decline of 35.6% from the June 30th total of 3,600,000 shares. Based on an average trading volume of 842,300 shares, the short-interest ratio is presently 2.8 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. YHB Investment Advisors Inc. purchased a new position in shares of Envestnet in the first quarter worth about $38,000. Innealta Capital LLC bought a new stake in Envestnet during the 2nd quarter valued at $46,000. Quest Partners LLC bought a new stake in Envestnet during the 4th quarter valued at $58,000. SG Americas Securities LLC purchased a new stake in shares of Envestnet during the first quarter worth $168,000. Finally, Summit Securities Group LLC bought a new position in shares of Envestnet in the second quarter worth $191,000.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ENV shares. StockNews.com started coverage on Envestnet in a research report on Tuesday, July 23rd. They issued a “sell” rating for the company. DA Davidson downgraded Envestnet from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $78.00 to $63.00 in a research report on Thursday, July 18th. Raymond James cut Envestnet from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Jefferies Financial Group upgraded shares of Envestnet from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $47.00 to $59.00 in a research note on Wednesday, May 8th. Finally, UBS Group reaffirmed a “neutral” rating and set a $63.15 price target (down previously from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.88.

Envestnet Stock Up 0.1 %

Envestnet stock traded up $0.06 during mid-day trading on Monday, reaching $62.06. The stock had a trading volume of 488,970 shares, compared to its average volume of 666,227. The firm has a market capitalization of $3.42 billion, a PE ratio of -17.44 and a beta of 1.29. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $73.04. The stock’s 50-day simple moving average is $63.38 and its 200-day simple moving average is $58.67. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.19 and a current ratio of 1.19.

Envestnet (NYSE:ENV) last posted its earnings results on Tuesday, May 7th. The business services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $324.95 million during the quarter, compared to the consensus estimate of $324.85 million. Envestnet had a negative net margin of 15.33% and a positive return on equity of 14.75%. On average, sell-side analysts forecast that Envestnet will post 1.79 EPS for the current fiscal 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.