Envestnet Inc (NYSE:ENV) has been given a consensus rating of “Buy” by the eleven research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $63.75.
Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Envestnet from $64.00 to $71.00 and gave the company an “overweight” rating in a report on Friday. Zacks Investment Research cut Envestnet from a “hold” rating to a “sell” rating in a report on Friday, March 1st. TheStreet upgraded Envestnet from a “c+” rating to a “b” rating in a report on Friday, February 22nd. ValuEngine upgraded Envestnet from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. Finally, DA Davidson increased their target price on Envestnet to $64.00 and gave the company an “average” rating in a report on Friday, February 22nd. They noted that the move was a valuation call.
In other Envestnet news, COO Joshua Mayer sold 1,162 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $61.15, for a total value of $71,056.30. Following the completion of the sale, the chief operating officer now owns 36,222 shares in the company, valued at approximately $2,214,975.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anil Arora sold 5,117 shares of the stock in a transaction that occurred on Friday, January 25th. The stock was 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 disclosure for this sale can be found here. In the last quarter, insiders sold 9,462 shares of company stock valued at $521,883. Company insiders own 5.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENV. Hartford Financial Management Inc. bought a new position in shares of Envestnet in the 4th quarter worth approximately $49,000. Advisors Asset Management Inc. bought a new position in shares of Envestnet in the 4th quarter worth approximately $58,000. Bank of Montreal Can raised its position in shares of 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 in the last quarter. Strs Ohio raised its position in shares of 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.
Shares of Envestnet stock traded up $1.37 during trading on Friday, hitting $65.85. 341,119 shares of the stock traded hands, compared to its average volume of 260,379. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.10 billion, a PE ratio of 52.68, a price-to-earnings-growth ratio of 2.56 and a beta of 1.89. Envestnet has a 52 week low of $46.57 and a 52 week high of $65.33.
Envestnet (NYSE:ENV) last issued its earnings results on Thursday, February 21st. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.18. The company had revenue of $210.08 million during the quarter, compared to analysts’ expectations of $210.52 million. Envestnet had a return on equity of 11.51% and a net margin of 0.71%. As a group, analysts predict that Envestnet will post 1.53 earnings per share for the current fiscal year.
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.
Further Reading: SEC Filing
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