Envestnet (NYSE:ENV) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Saturday.
ENV has been the subject of a number of other research reports. Buckingham Research assumed coverage on shares of Envestnet in a research note on Thursday, January 10th. They set a “buy” rating and a $63.00 target price for the company. Zacks Investment Research lowered shares of Envestnet from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. DA Davidson lifted their target price on shares of Envestnet to $64.00 and gave the company an “average” rating in a research note on Friday. They noted that the move was a valuation call. Raymond James decreased their target price on shares of Envestnet from $71.00 to $60.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 3rd. Finally, Rosenblatt Securities assumed coverage on shares of Envestnet in a research note on Wednesday, December 5th. They set a “buy” rating and a $65.00 target price for the company. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $64.22.
Shares of NYSE:ENV opened at $61.88 on Friday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 70.32, a P/E/G ratio of 2.26 and a beta of 1.81. Envestnet has a 12-month low of $46.57 and a 12-month high of $64.80. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.72 and a quick ratio of 0.72.
Envestnet (NYSE:ENV) last issued its earnings results on Thursday, February 21st. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.18. The company had revenue of $210.08 million during the quarter, compared to analyst estimates of $210.52 million. Envestnet had a net margin of 2.95% and a return on equity of 11.32%. Equities analysts forecast that Envestnet will post 1.29 EPS for the current fiscal year.
In related news, insider Anil Arora sold 5,117 shares of Envestnet stock in a transaction on Friday, January 25th. The shares were sold at an average price of $53.92, for a total value of $275,908.64. Following the completion of the sale, the insider now owns 65,312 shares of the company’s stock, valued at approximately $3,521,623.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Joshua Mayer sold 2,616 shares of Envestnet stock in a transaction on Monday, February 4th. The shares were sold at an average price of $55.00, for a total transaction of $143,880.00. Following the completion of the sale, the chief operating officer now directly owns 32,616 shares of the company’s stock, valued at approximately $1,793,880. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,486 shares of company stock valued at $461,056. 5.49% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Hartford Financial Management Inc. bought a new position in Envestnet in the 4th quarter worth $49,000. Advisors Asset Management Inc. bought a new position in Envestnet in the 4th quarter worth $58,000. Bank of Montreal Can raised its holdings in Envestnet by 23.5% in the 4th quarter. Bank of Montreal Can now owns 1,410 shares of the business services provider’s stock worth $69,000 after acquiring an additional 268 shares during the period. Strs Ohio raised its holdings in Envestnet by 15.8% in the 4th quarter. Strs Ohio now owns 2,200 shares of the business services provider’s stock worth $108,000 after acquiring an additional 300 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Envestnet by 11.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,104 shares of the business services provider’s stock worth $153,000 after acquiring an additional 320 shares during the period. 96.51% of the stock is owned by institutional investors and hedge funds.
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.
See Also: Earnings Per Share
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