JMP Securities Reiterates “Market Outperform” Rating for Envestnet (NYSE:ENV)

Envestnet (NYSE:ENV)‘s stock had its “market outperform” rating reissued by analysts at JMP Securities in a research report issued on Wednesday, Benzinga reports. They currently have a $79.00 price objective on the business services provider’s stock. JMP Securities’ target price suggests a potential upside of 26.97% from the company’s previous close.

Several other research firms have also weighed in on ENV. JPMorgan Chase & Co. lifted their price target on Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Raymond James lifted their price objective on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. StockNews.com upgraded Envestnet from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. William Blair reiterated an “outperform” rating on shares of Envestnet in a research note on Wednesday, March 27th. Finally, DA Davidson lifted their price objective on Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Envestnet Trading Up 0.0 %

NYSE ENV opened at $62.22 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. Envestnet has a twelve month low of $33.12 and a twelve month high of $68.83. The firm has a market capitalization of $3.41 billion, a PE ratio of -14.24 and a beta of 1.31. The stock’s 50 day moving average is $54.82 and its 200 day moving average is $47.77.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.10. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. The company had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. Research analysts forecast that Envestnet will post 1.78 earnings per share for the current fiscal year.

Insider Transactions at Envestnet

In other news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the transaction, the insider now owns 15,212 shares in the company, valued at $865,867.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Envestnet news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the sale, the insider now owns 15,212 shares of the company’s stock, valued at $865,867.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of the business’s stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $52.99 per share, with a total value of $88,493.30. Following the acquisition, the director now directly owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Envestnet

Several hedge funds have recently bought and sold shares of ENV. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Envestnet by 6.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,499 shares of the business services provider’s stock worth $6,462,000 after acquiring an additional 7,924 shares during the period. Van Berkom & Associates Inc. boosted its stake in shares of Envestnet by 33.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock worth $77,603,000 after acquiring an additional 438,994 shares during the period. Cambiar Investors LLC boosted its stake in shares of Envestnet by 65.5% in the fourth quarter. Cambiar Investors LLC now owns 57,652 shares of the business services provider’s stock worth $2,855,000 after acquiring an additional 22,823 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Envestnet in the third quarter worth about $5,604,000. Finally, Wolverine Asset Management LLC bought a new position in shares of Envestnet in the third quarter worth about $1,206,000.

Envestnet Company Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.