Envestnet (NYSE:ENV) had its price target increased by Raymond James from $82.00 to $83.00 in a research report released on Thursday, BenzingaRatingsTable reports. They currently have a strong-buy rating on the business services provider’s stock.
A number of other equities analysts also recently issued reports on ENV. Royal Bank of Canada upped their price target on Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the stock a sector perform rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. downgraded Aeroports de Paris from an overweight rating to a neutral rating in a research report on Thursday, May 9th. Buckingham Research downgraded Envestnet from a buy rating to a neutral rating and set a $73.00 price target on the stock. in a research report on Thursday, May 9th. DA Davidson downgraded Envestnet from a buy rating to a neutral rating and upped their price target for the stock from $64.00 to $67.00 in a research report on Wednesday, March 20th. They noted that the move was a valuation call. Finally, William Blair reissued an outperform rating on shares of Envestnet in a research report on Thursday, March 14th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $73.30.
Shares of ENV stock opened at $72.74 on Thursday. The business’s fifty day simple moving average is $68.81. The firm has a market capitalization of $3.55 billion, a P/E ratio of 60.12, a PEG ratio of 3.21 and a beta of 1.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.03 and a current ratio of 1.03. Envestnet has a 12-month low of $46.57 and a 12-month high of $73.22.
Envestnet (NYSE:ENV) last issued its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). The business had revenue of $199.70 million for the quarter, compared to analyst estimates of $201.37 million. Envestnet had a positive return on equity of 10.28% and a negative net margin of 2.52%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share. As a group, sell-side analysts forecast that Envestnet will post 1.4 earnings per share for the current year.
In related news, insider Stuart Depina sold 4,805 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $71.21, for a total value of $342,164.05. Following the transaction, the insider now directly owns 44,512 shares of the company’s stock, valued at approximately $3,169,699.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anil Arora sold 2,261 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $66.79, for a total value of $151,012.19. Following the completion of the transaction, the director now directly owns 40,706 shares in the company, valued at $2,718,753.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,369 shares of company stock worth $5,209,422. 4.97% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENV. Marshall Wace LLP purchased a new stake in Envestnet in the first quarter valued at $50,000. Pittenger & Anderson Inc. boosted its holdings in Envestnet by 37.5% in the first quarter. Pittenger & Anderson Inc. now owns 1,375 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 375 shares during the last quarter. Huntington National Bank boosted its holdings in Envestnet by 27.3% in the first quarter. Huntington National Bank now owns 1,543 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 331 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Envestnet by 66.9% in the first quarter. Advisors Asset Management Inc. now owns 1,974 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 791 shares during the last quarter. Finally, CAPROCK Group Inc. purchased a new stake in Envestnet in the first quarter valued at $211,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.
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 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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