Analysts Set Envestnet, Inc. (NYSE:ENV) Price Target at $63.67

Envestnet, Inc. (NYSE:ENV) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $63.67.

ENV has been the topic of a number of recent analyst reports. DA Davidson lifted their price objective on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. William Blair reissued an “outperform” rating on shares of Envestnet in a research note on Wednesday, March 27th. Raymond James raised their target price on shares of Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. JMP Securities restated a “market outperform” rating and issued a $79.00 target price on shares of Envestnet in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd.

Insider Transactions at Envestnet

In other Envestnet news, Director Lauren Taylor Wolfe purchased 1,670 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were bought at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the acquisition, the director now owns 4,188,871 shares in the company, valued at $221,968,274.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Lauren Taylor Wolfe bought 1,670 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the acquisition, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the transaction, the insider now owns 15,212 shares in the company, valued at approximately $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Envestnet

Several hedge funds and other institutional investors have recently made changes to their positions in ENV. YHB Investment Advisors Inc. bought a new stake in shares of Envestnet during the first quarter worth about $38,000. Headlands Technologies LLC bought a new stake in shares of Envestnet during the third quarter worth about $45,000. Quest Partners LLC bought a new stake in shares of Envestnet during the fourth quarter worth about $58,000. PNC Financial Services Group Inc. increased its position in shares of Envestnet by 19.4% during the third quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock worth $217,000 after acquiring an additional 802 shares in the last quarter. Finally, Argent Capital Management LLC boosted its holdings in Envestnet by 32.7% during the third quarter. Argent Capital Management LLC now owns 5,167 shares of the business services provider’s stock worth $228,000 after purchasing an additional 1,274 shares during the last quarter.

Envestnet Stock Up 0.0 %

Shares of ENV opened at $62.08 on Friday. The firm’s 50 day moving average is $56.83 and its 200-day moving average is $49.14. The stock has a market capitalization of $3.40 billion, a PE ratio of -14.20 and a beta of 1.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. Envestnet has a 12 month low of $33.12 and a 12 month high of $68.83.

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