Envestnet (NYSE:ENV) Receives Outperform Rating from William Blair

William Blair reissued their outperform rating on shares of Envestnet (NYSE:ENV) in a research note issued to investors on Wednesday, RTT News reports.

Other equities analysts also recently issued reports about the company. StockNews.com upgraded Envestnet from a sell rating to a hold rating in a research report on Monday. DA Davidson boosted their price objective on Envestnet from $66.00 to $70.00 and gave the company a buy rating in a research report on Wednesday, January 3rd. Raymond James boosted their price objective on Envestnet from $46.00 to $55.00 and gave the company an outperform rating in a research report on Wednesday, January 3rd. Royal Bank of Canada boosted their price objective on Envestnet from $47.00 to $56.00 and gave the company a sector perform rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. lifted their target price on Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Envestnet has a consensus rating of Moderate Buy and an average price target of $62.83.

Envestnet Price Performance

NYSE ENV opened at $57.70 on Wednesday. The company has a market capitalization of $3.16 billion, a PE ratio of -13.20 and a beta of 1.30. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. The business’s fifty day moving average is $52.58 and its 200 day moving average is $46.59. Envestnet has a fifty-two week low of $33.12 and a fifty-two week high of $66.50.

Envestnet (NYSE:ENV) last released its 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. The company had revenue of $317.63 million for the quarter, compared to the consensus estimate of $312.24 million. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. Sell-side analysts predict that Envestnet will post 1.78 earnings per share for the current year.

Insiders Place Their Bets

In other Envestnet news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the sale, the insider now directly owns 15,212 shares of the company’s stock, valued at $865,867.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Envestnet news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the sale, the insider now directly owns 15,212 shares of the company’s stock, valued at $865,867.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Taylor Wolfe acquired 1,670 shares of Envestnet stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the purchase, the director now directly owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The disclosure for this purchase can be found here. 9.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Nomura Holdings Inc. bought a new position in shares of Envestnet during the fourth quarter valued at approximately $432,000. Quadrature Capital Ltd bought a new position in shares of Envestnet during the fourth quarter valued at approximately $236,000. Vanguard Group Inc. grew its stake in shares of Envestnet by 12.9% during the fourth quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock valued at $297,885,000 after buying an additional 687,202 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Envestnet by 93.5% during the fourth quarter. Legal & General Group Plc now owns 132,133 shares of the business services provider’s stock valued at $6,543,000 after buying an additional 63,856 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Envestnet during the fourth quarter valued at approximately $526,000.

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.