Envestnet (NYSE:ENV) Stock Rating Upgraded by Jefferies Financial Group

Jefferies Financial Group upgraded shares of Envestnet (NYSE:ENV) from an underperform rating to a hold rating in a research report sent to investors on Wednesday morning, MarketBeat.com reports. The firm currently has $59.00 price target on the business services provider’s stock, up from their prior price target of $47.00.

Other equities analysts have also recently issued research reports about the company. JMP Securities restated a market outperform rating and set a $79.00 target price on shares of Envestnet in a report on Wednesday, April 17th. DA Davidson lifted their price objective on shares of Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. William Blair restated an outperform rating on shares of Envestnet in a report on Wednesday, March 27th. StockNews.com lowered shares of Envestnet from a hold rating to a sell rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Envestnet from $44.00 to $45.00 and gave the company a neutral rating in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Envestnet has a consensus rating of Hold and a consensus price target of $64.14.

Envestnet Stock Up 1.5 %

Shares of NYSE:ENV opened at $63.68 on Wednesday. The company has a 50 day moving average of $58.05 and a 200-day moving average of $49.90. Envestnet has a one year low of $33.12 and a one year high of $68.83. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -14.57 and a beta of 1.26. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.90 and a quick ratio of 0.90.

Envestnet (NYSE:ENV) last issued its earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.33 by $0.10. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. The company had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $312.24 million. On average, sell-side analysts forecast that Envestnet will post 1.78 earnings per share for the current year.

Insider Transactions at Envestnet

In related news, insider Matthew Majoros sold 700 shares of the business’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 directly owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Envestnet news, Director Lauren Taylor Wolfe acquired 1,670 shares of the stock in a transaction dated 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 acquisition, the director now directly owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $39,844.00. Following the completion of the sale, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Envestnet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC grew its holdings in shares of Envestnet by 20,229.7% in the 4th quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock valued at $90,027,000 after acquiring an additional 1,816,020 shares in the last quarter. Vanguard Group Inc. boosted its position in 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 purchasing an additional 687,202 shares during the last quarter. Norges Bank bought a new position in Envestnet in the fourth quarter valued at approximately $25,319,000. Schroder Investment Management Group bought a new position in Envestnet in the fourth quarter valued at approximately $21,829,000. Finally, Van Berkom & Associates Inc. increased its position in shares of Envestnet by 33.2% during the 3rd 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 last quarter.

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.