Envestnet, Inc. (NYSE:ENV) Given Average Rating of “Moderate Buy” by Brokerages

Envestnet, Inc. (NYSE:ENV) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $63.67.

A number of research firms recently commented on ENV. JPMorgan Chase & Co. increased their price objective on Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. DA Davidson increased their price target on Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Royal Bank of Canada increased their price target on Envestnet from $47.00 to $56.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. JMP Securities reiterated a “market outperform” rating and set a $79.00 price target on shares of Envestnet in a report on Wednesday, April 17th. Finally, William Blair reiterated an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th.

Envestnet Trading Down 0.3 %

NYSE:ENV opened at $62.15 on Friday. The stock’s 50 day moving average price is $55.90 and its 200 day moving average price is $48.54. Envestnet has a 52 week low of $33.12 and a 52 week high of $68.83. The company has a market capitalization of $3.41 billion, a P/E ratio of -14.22 and a beta of 1.31. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90.

Envestnet (NYSE:ENV) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $317.63 million for the quarter, compared to the consensus estimate of $312.24 million. On average, research analysts forecast that Envestnet will post 1.78 EPS for the current fiscal year.

Insider Transactions at Envestnet

In other news, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the sale, the insider now owns 15,212 shares in the company, valued at $865,867.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the sale, the insider now owns 15,212 shares in the company, valued at $865,867.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lauren Taylor Wolfe acquired 1,670 shares of the stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the purchase, the director now 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. 8.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ENV. Hsbc Holdings PLC lifted its position in Envestnet by 20,229.7% in the fourth quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock worth $90,027,000 after purchasing an additional 1,816,020 shares during the period. Vanguard Group Inc. lifted its position in Envestnet by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock worth $297,885,000 after purchasing an additional 687,202 shares during the period. Norges Bank bought a new position in Envestnet in the fourth quarter worth $25,319,000. Schroder Investment Management Group bought a new position in Envestnet in the fourth quarter worth $21,829,000. Finally, Van Berkom & Associates Inc. lifted its position in 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 purchasing an additional 438,994 shares during the period.

About Envestnet

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.