ValuEngine upgraded shares of Envestnet (NYSE:ENV) from a hold rating to a buy rating in a report published on Monday.
Separately, Zacks Investment Research cut Envestnet from a buy rating to a hold rating in a research report on Tuesday, March 6th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Envestnet has a consensus rating of Buy and a consensus target price of $55.00.
Shares of NYSE ENV traded down $0.65 during mid-day trading on Monday, reaching $54.30. The company had a trading volume of 30,046 shares, compared to its average volume of 252,513. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. Envestnet has a one year low of $32.90 and a one year high of $60.28. The stock has a market capitalization of $2,439.74, a P/E ratio of 62.70, a PEG ratio of 2.77 and a beta of 1.76.
Envestnet (NYSE:ENV) last issued its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. Envestnet had a positive return on equity of 9.93% and a negative net margin of 0.48%. The company had revenue of $182.86 million for the quarter, compared to analysts’ expectations of $179.20 million. During the same quarter last year, the business earned $0.32 earnings per share. Envestnet’s revenue was up 17.6% on a year-over-year basis. equities research analysts forecast that Envestnet will post 1.31 earnings per share for the current year.
In related news, CTO Scott D. Grinis sold 40,000 shares of the firm’s stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $59.75, for a total value of $2,390,000.00. Following the sale, the chief technology officer now directly owns 205,340 shares of the company’s stock, valued at $12,269,065. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joshua Mayer sold 6,743 shares of the firm’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $57.88, for a total value of $390,284.84. Following the completion of the sale, the chief operating officer now directly owns 49,089 shares in the company, valued at $2,841,271.32. The disclosure for this sale can be found here. Insiders sold 73,767 shares of company stock worth $4,249,957 over the last ninety days. 7.80% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Envestnet by 1.0% during the fourth quarter. BlackRock Inc. now owns 2,699,362 shares of the business services provider’s stock valued at $134,564,000 after purchasing an additional 27,689 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Envestnet by 1.7% during the fourth quarter. OppenheimerFunds Inc. now owns 609,122 shares of the business services provider’s stock valued at $30,365,000 after purchasing an additional 10,476 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Envestnet by 1.2% during the fourth quarter. Victory Capital Management Inc. now owns 597,290 shares of the business services provider’s stock valued at $29,775,000 after purchasing an additional 7,080 shares in the last quarter. Atlanta Capital Management Co. L L C raised its position in shares of Envestnet by 20.3% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 537,122 shares of the business services provider’s stock worth $26,776,000 after acquiring an additional 90,786 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in shares of Envestnet by 21.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 482,907 shares of the business services provider’s stock worth $24,073,000 after acquiring an additional 86,473 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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