Shares of Envestnet, Inc (NYSE:ENV) have been given a consensus rating of “Buy” by the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $55.33.
Several research analysts recently issued reports on ENV shares. Zacks Investment Research upgraded shares of Envestnet from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Tuesday, October 10th. UBS AG reiterated a “buy” rating and issued a $63.00 target price (up from $50.00) on shares of Envestnet in a research report on Monday, October 9th. Royal Bank Of Canada reiterated a “hold” rating and issued a $48.00 target price on shares of Envestnet in a research report on Thursday, October 5th. Jefferies Group LLC upped their target price on shares of Envestnet from $47.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $62.00 target price (up from $52.00) on shares of Envestnet in a research report on Thursday, November 9th.
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In other news, CEO Judson Bergman sold 20,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $53.21, for a total transaction of $1,064,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President William Crager sold 5,000 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $53.31, for a total transaction of $266,550.00. Following the transaction, the president now directly owns 150,555 shares of the company’s stock, valued at $8,026,087.05. The disclosure for this sale can be found here. Insiders sold 120,464 shares of company stock valued at $6,214,283 over the last three months. 5.58% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. D.A. Davidson & CO. raised its stake in shares of Envestnet by 13.0% during the second quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after acquiring an additional 379 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Envestnet by 5.7% during the second quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock valued at $150,000 after acquiring an additional 204 shares during the last quarter. Zions Bancorporation bought a new position in shares of Envestnet during the third quarter valued at about $181,000. Personal Capital Advisors Corp bought a new position in shares of Envestnet during the third quarter valued at about $203,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Envestnet by 525.9% during the second quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock valued at $204,000 after acquiring an additional 4,328 shares during the last quarter. 93.28% of the stock is owned by hedge funds and other institutional investors.
Envestnet (ENV) opened at $49.55 on Monday. The company has a market cap of $2,195.35, a price-to-earnings ratio of 63.53, a PEG ratio of 3.68 and a beta of 1.97. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.63. Envestnet has a 1 year low of $30.80 and a 1 year high of $55.15.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $175.61 million during the quarter, compared to analyst estimates of $171.57 million. Envestnet had a negative net margin of 8.15% and a positive return on equity of 8.92%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. sell-side analysts anticipate that Envestnet will post 0.9 earnings per share for the current fiscal year.
Envestnet Company Profile
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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