Shares of Envestnet Inc (NYSE:ENV) have earned an average rating of “Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $64.33.
ENV has been the topic of several research reports. Zacks Investment Research upgraded shares of Envestnet from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Thursday, October 4th. TheStreet upgraded shares of Envestnet from a “c+” rating to a “b-” rating in a report on Monday, July 16th. DA Davidson upgraded shares of Envestnet from a “neutral” rating to a “buy” rating in a report on Thursday. UBS Group upped their price objective on shares of Envestnet from $62.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Envestnet in a report on Wednesday, July 18th.
ENV traded down $3.28 during trading on Monday, hitting $54.40. 708,958 shares of the company’s stock were exchanged, compared to its average volume of 309,999. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.90. Envestnet has a fifty-two week low of $47.45 and a fifty-two week high of $64.80. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 61.82, a PEG ratio of 2.97 and a beta of 1.89.
Envestnet (NYSE:ENV) last released its quarterly earnings data on Wednesday, November 7th. The business services provider reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.03. Envestnet had a net margin of 2.95% and a return on equity of 11.61%. The firm had revenue of $203.20 million for the quarter, compared to the consensus estimate of $203.99 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The business’s revenue was up 15.7% on a year-over-year basis. As a group, equities analysts forecast that Envestnet will post 1.25 earnings per share for the current fiscal year.
In other news, COO Joshua Mayer sold 5,398 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $59.44, for a total value of $320,857.12. Following the completion of the sale, the chief operating officer now owns 40,510 shares in the company, valued at $2,407,914.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Judson Bergman sold 25,000 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $59.04, for a total transaction of $1,476,000.00. Following the completion of the sale, the chief executive officer now owns 730,673 shares of the company’s stock, valued at approximately $43,138,933.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,678 shares of company stock valued at $3,360,422. 7.80% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in ENV. Wasatch Advisors Inc. raised its holdings in shares of Envestnet by 38.6% in the second quarter. Wasatch Advisors Inc. now owns 2,489,378 shares of the business services provider’s stock valued at $136,791,000 after purchasing an additional 692,878 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Envestnet by 16.7% in the second quarter. BlackRock Inc. now owns 3,150,212 shares of the business services provider’s stock valued at $173,104,000 after purchasing an additional 451,887 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Envestnet by 5.8% in the second quarter. Wells Fargo & Company MN now owns 3,651,578 shares of the business services provider’s stock valued at $200,655,000 after purchasing an additional 198,782 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Envestnet by 39.8% in the third quarter. Victory Capital Management Inc. now owns 659,518 shares of the business services provider’s stock valued at $40,198,000 after purchasing an additional 187,607 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Envestnet by 26.8% in the second quarter. Voya Investment Management LLC now owns 780,575 shares of the business services provider’s stock valued at $42,894,000 after purchasing an additional 164,976 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.
Envestnet Company Profile
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness 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, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide 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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