Envestnet (NYSE:ENV) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Envestnet (NYSE:ENV) from a sell rating to a hold rating in a research report sent to investors on Monday.

Several other equities analysts also recently commented on the company. Raymond James boosted their price objective on Envestnet from $46.00 to $55.00 and gave the company an outperform rating in a research report on Wednesday, January 3rd. Royal Bank of Canada increased their price target on Envestnet from $47.00 to $56.00 and gave the company a sector perform rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. lifted their price objective on Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Friday, February 23rd. Finally, DA Davidson increased their target price on Envestnet from $66.00 to $70.00 and gave the company a buy rating in a research report on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Envestnet currently has a consensus rating of Moderate Buy and a consensus target price of $62.83.

Envestnet Trading Up 2.7 %

Shares of ENV stock opened at $57.70 on Monday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -13.20 and a beta of 1.30. Envestnet has a 1 year low of $33.12 and a 1 year high of $66.50. The firm has a fifty day moving average price of $52.58 and a 200-day moving average price of $46.59.

Envestnet (NYSE:ENV) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. The firm had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $312.24 million. As a group, equities analysts predict that Envestnet will post 1.78 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the sale, the insider now owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the transaction, the insider now directly owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lauren Taylor Wolfe acquired 1,670 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the transaction, the director now owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The disclosure for this purchase can be found here. 9.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Envestnet by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 952,711 shares of the business services provider’s stock worth $56,542,000 after purchasing an additional 29,042 shares during the last quarter. Van Berkom & Associates Inc. boosted its position in shares of Envestnet by 33.2% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock worth $77,603,000 after purchasing an additional 438,994 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Envestnet during the 3rd quarter worth $5,604,000. Nuveen Asset Management LLC increased its position in Envestnet by 206.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 740,671 shares of the business services provider’s stock valued at $43,959,000 after buying an additional 498,671 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Envestnet in the third quarter valued at about $1,206,000.

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.