StockNews.com initiated coverage on shares of Envestnet (NYSE:ENV – Free Report) in a research note published on Thursday morning. The brokerage issued a sell rating on the business services provider’s stock.
Other analysts have also issued research reports about the company. Jefferies Financial Group raised Envestnet from an underperform rating to a hold rating and increased their price objective for the company from $47.00 to $59.00 in a research note on Wednesday, May 8th. JMP Securities reissued a market outperform rating and issued a $79.00 price objective on shares of Envestnet in a research report on Wednesday, April 17th. Raymond James downgraded shares of Envestnet from a moderate buy rating to a hold rating in a research note on Wednesday, July 17th. DA Davidson cut shares of Envestnet from a buy rating to a neutral rating and lowered their target price for the stock from $78.00 to $63.00 in a research note on Thursday, July 18th. Finally, William Blair reissued a market perform rating on shares of Envestnet in a research note on Thursday, July 11th. 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 MarketBeat, the company presently has an average rating of Hold and an average target price of $61.88.
View Our Latest Stock Report on Envestnet
Envestnet Price Performance
Hedge Funds Weigh In On Envestnet
A number of large investors have recently modified their holdings of ENV. New York State Teachers Retirement System raised its holdings in Envestnet by 50.3% in the fourth quarter. New York State Teachers Retirement System now owns 12,621 shares of the business services provider’s stock valued at $625,000 after buying an additional 4,221 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Envestnet by 6.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,499 shares of the business services provider’s stock valued at $6,462,000 after acquiring an additional 7,924 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Envestnet during the 4th quarter worth $1,233,000. Handelsbanken Fonder AB increased its holdings in Envestnet by 156.0% in the 4th quarter. Handelsbanken Fonder AB now owns 17,723 shares of the business services provider’s stock valued at $878,000 after purchasing an additional 10,800 shares in the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new position in Envestnet in the fourth quarter valued at about $1,369,000.
About Envestnet
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.
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