Envestnet Inc (NYSE:ENV) has been given an average recommendation of “Buy” by the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $55.43.
ENV has been the topic of several analyst reports. ValuEngine upgraded Envestnet from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Sandler O’Neill reiterated a “hold” rating and set a $56.00 target price on shares of Envestnet in a report on Tuesday, April 10th. Finally, Zacks Investment Research downgraded Envestnet from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th.
In other Envestnet news, CTO Scott D. Grinis sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $59.75, for a total transaction of $2,390,000.00. Following the completion of the sale, the chief technology officer now owns 205,340 shares in the company, valued at approximately $12,269,065. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Joshua Mayer sold 6,743 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $57.88, for a total value of $390,284.84. Following the sale, the chief operating officer now owns 49,089 shares of the company’s stock, valued at approximately $2,841,271.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,788 shares of company stock worth $3,443,306. Company insiders own 5.49% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Mckinley Capital Management LLC Delaware acquired a new stake in Envestnet during the 1st quarter valued at approximately $119,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Envestnet by 133.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock valued at $139,000 after purchasing an additional 1,591 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Envestnet during the 4th quarter valued at approximately $175,000. Macquarie Group Ltd. acquired a new stake in Envestnet during the 4th quarter valued at approximately $194,000. Finally, Psagot Investment House Ltd. acquired a new stake in Envestnet during the 1st quarter valued at approximately $206,000. Hedge funds and other institutional investors own 91.24% of the company’s stock.
Shares of Envestnet stock traded down $0.70 during trading hours on Friday, reaching $56.65. The stock had a trading volume of 250,613 shares, compared to its average volume of 413,293. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 64.38, a price-to-earnings-growth ratio of 3.19 and a beta of 1.70. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.86 and a quick ratio of 0.86. Envestnet has a 1 year low of $37.40 and a 1 year high of $60.28.
Envestnet (NYSE:ENV) last released its quarterly earnings data on Wednesday, May 9th. The business services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $198.00 million for the quarter, compared to the consensus estimate of $194.00 million. Envestnet had a return on equity of 10.66% and a net margin of 2.48%. The company’s quarterly revenue was up 25.5% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. research analysts anticipate that Envestnet will post 1.25 EPS for the current year.
Envestnet Company Profile
Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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