Envestnet (NYSE:ENV) had its price objective upped by equities research analysts at DA Davidson to $56.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has an “average” rating on the business services provider’s stock. DA Davidson’s price objective points to a potential downside of 2.10% from the company’s current price.
Several other equities research analysts have also weighed in on ENV. ValuEngine upgraded Envestnet from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Sandler O’Neill reiterated a “hold” rating and issued a $56.00 price objective on shares of Envestnet in a research note on Tuesday, April 10th. Finally, Zacks Investment Research lowered Envestnet from a “hold” rating to a “sell” rating in a research note on Monday, April 30th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Envestnet presently has a consensus rating of “Buy” and a consensus target price of $56.67.
ENV stock opened at $57.20 on Thursday. Envestnet has a 1-year low of $37.40 and a 1-year high of $60.28. The company has a market capitalization of $2.59 billion, a PE ratio of 65.00, a P/E/G ratio of 3.26 and a beta of 1.74. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.86 and a current ratio of 0.86.
Envestnet (NYSE:ENV) last released its quarterly earnings data on Wednesday, May 9th. The business services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Envestnet had a return on equity of 10.66% and a net margin of 2.48%. The company had revenue of $198.00 million for the quarter, compared to analyst estimates of $194.00 million. During the same period in the prior year, the company posted $0.25 EPS. The company’s revenue was up 25.5% compared to the same quarter last year. analysts forecast that Envestnet will post 1.23 earnings per share for the current year.
In related news, insider Shelly O’brien sold 4,000 shares of the stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $55.80, for a total transaction of $223,200.00. Following the sale, the insider now directly owns 42,945 shares in the company, valued at approximately $2,396,331. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gayle A. Crowell sold 2,934 shares of the stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $54.35, for a total value of $159,462.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,934 shares of company stock worth $599,583. 7.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blair William & Co. IL boosted its position in Envestnet by 1.0% in the 1st quarter. Blair William & Co. IL now owns 119,555 shares of the business services provider’s stock valued at $6,851,000 after buying an additional 1,135 shares during the last quarter. Denver Investment Advisors LLC boosted its position in Envestnet by 4.9% in the 1st quarter. Denver Investment Advisors LLC now owns 33,206 shares of the business services provider’s stock valued at $1,903,000 after buying an additional 1,559 shares during the last quarter. Swiss National Bank boosted its position in Envestnet by 2.4% in the 1st quarter. Swiss National Bank now owns 76,800 shares of the business services provider’s stock valued at $4,401,000 after buying an additional 1,800 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Envestnet by 0.6% in the 1st quarter. Thrivent Financial for Lutherans now owns 293,816 shares of the business services provider’s stock valued at $16,836,000 after purchasing an additional 1,876 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Envestnet by 14.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,721 shares of the business services provider’s stock valued at $901,000 after purchasing an additional 1,936 shares during the period. Hedge funds and other institutional investors own 91.23% of the company’s stock.
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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