Envestnet (NYSE:ENV) Shares Gap Down to $75.45

Envestnet, Inc. (NYSE:ENV) shares gapped down before the market opened on Thursday . The stock had previously closed at $75.45, but opened at $73.72. Envestnet shares last traded at $73.08, with a volume of 1,543 shares traded.

Several research analysts have commented on the company. Raymond James cut their target price on Envestnet from $91.00 to $86.00 and set a “strong-buy” rating on the stock in a report on Friday, May 7th. Jefferies Financial Group downgraded Envestnet from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $95.00 to $63.00 in a research note on Thursday. Truist dropped their price objective on Envestnet from $95.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, May 13th. Finally, Truist Securities dropped their price objective on Envestnet from $95.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, May 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $85.44.

The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 215.74 and a beta of 1.30. The business’s 50-day moving average price is $74.33. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.14 and a quick ratio of 2.14.

Envestnet (NYSE:ENV) last issued its earnings results on Thursday, May 6th. The business services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Envestnet had a return on equity of 11.50% and a net margin of 1.87%. The business had revenue of $275.10 million during the quarter, compared to analyst estimates of $273.48 million. During the same period in the previous year, the company posted $0.57 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, analysts anticipate that Envestnet, Inc. will post 1.49 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP increased its position in Envestnet by 0.8% in the 4th quarter. Engineers Gate Manager LP now owns 18,407 shares of the business services provider’s stock valued at $1,515,000 after buying an additional 143 shares in the last quarter. Stephens Inc. AR increased its holdings in Envestnet by 3.4% during the 1st quarter. Stephens Inc. AR now owns 4,509 shares of the business services provider’s stock worth $326,000 after purchasing an additional 150 shares in the last quarter. Comerica Bank increased its holdings in Envestnet by 6.9% during the 1st quarter. Comerica Bank now owns 2,914 shares of the business services provider’s stock worth $212,000 after purchasing an additional 187 shares in the last quarter. LPL Financial LLC increased its holdings in Envestnet by 3.0% during the 4th quarter. LPL Financial LLC now owns 6,569 shares of the business services provider’s stock worth $541,000 after purchasing an additional 189 shares in the last quarter. Finally, HM Payson & Co. increased its holdings in Envestnet by 2.2% during the 1st quarter. HM Payson & Co. now owns 9,275 shares of the business services provider’s stock worth $670,000 after purchasing an additional 200 shares in the last quarter. 99.91% of the stock is owned by institutional investors and hedge funds.

Envestnet Company Profile (NYSE:ENV)

Envestnet, Inc, together with its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through Envestnet Wealth Solutions and Envestnet Data & Analytics segments. The company's product and services include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as offers 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; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.

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