Envestnet Inc (NYSE:ENV) – Analysts at DA Davidson increased their FY2018 EPS estimates for shares of Envestnet in a research note issued on Monday. DA Davidson analyst P. Heckmann now expects that the business services provider will earn $1.38 per share for the year, up from their prior estimate of $1.16.
Several other analysts have also recently weighed in on the company. Zacks Investment Research upgraded Envestnet from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a report on Tuesday, January 9th. UBS Group reduced their target price on Envestnet from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $62.00 target price (up from $52.00) on shares of Envestnet in a report on Thursday, November 9th. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Envestnet in a report on Tuesday, November 7th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.00.
Shares of Envestnet (ENV) traded up $1.15 during midday trading on Thursday, reaching $56.10. The company’s stock had a trading volume of 58,608 shares, compared to its average volume of 225,285. The firm has a market capitalization of $2,383.65, a P/E ratio of -45.00, a price-to-earnings-growth ratio of 2.68 and a beta of 1.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.90 and a current ratio of 0.90. Envestnet has a 12-month low of $30.80 and a 12-month high of $56.30.
In other Envestnet news, CEO Judson Bergman sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $49.91, for a total transaction of $499,100.00. Following the transaction, the chief executive officer now directly owns 733,569 shares in the company, valued at approximately $36,612,428.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Peter D’arrigo sold 20,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $48.11, for a total value of $962,200.00. The disclosure for this sale can be found here. Insiders sold 187,694 shares of company stock worth $9,480,716 over the last quarter. 7.80% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of ENV. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Envestnet by 133.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock worth $139,000 after purchasing an additional 1,591 shares during the period. Ameritas Investment Partners Inc. raised its position in Envestnet by 5.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock valued at $150,000 after buying an additional 204 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in Envestnet in the 4th quarter valued at $175,000. Zions Bancorporation purchased a new stake in Envestnet in the 3rd quarter valued at $181,000. Finally, Macquarie Group Ltd. purchased a new stake in Envestnet in the 4th quarter valued at $194,000. 92.65% of the stock is currently owned by institutional investors.
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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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