Envestnet (NYSE:ENV) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Envestnet (NYSE:ENV) from a sell rating to a hold rating in a report released on Monday morning.

Several other research firms also recently commented on ENV. Royal Bank of Canada upped their target price on Envestnet from $47.00 to $56.00 and gave the company a sector perform rating in a research report on Friday, February 23rd. Raymond James increased their price objective on Envestnet from $46.00 to $55.00 and gave the stock an outperform rating in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. boosted their target price on shares of Envestnet from $44.00 to $45.00 and gave the company a neutral rating in a research report on Friday, February 23rd. Finally, DA Davidson raised their price target on shares of Envestnet from $66.00 to $70.00 and gave the stock a buy rating in a research report on Wednesday, January 3rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $62.83.

Envestnet Stock Up 2.7 %

Shares of ENV stock opened at $57.70 on Monday. Envestnet has a 52-week low of $33.12 and a 52-week high of $66.50. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of -13.20 and a beta of 1.30. The firm’s 50-day moving average is $52.58 and its 200-day moving average is $46.59. 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 announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $317.63 million during the quarter, compared to the consensus estimate of $312.24 million. Sell-side analysts predict that Envestnet will post 1.78 EPS for the current year.

Insiders Place Their Bets

In other Envestnet news, insider Matthew Majoros sold 700 shares of Envestnet 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 completion of the sale, the insider now directly owns 15,212 shares of the company’s stock, valued at $865,867.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Lauren Taylor Wolfe bought 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 completion of the acquisition, the director now directly owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Majoros sold 700 shares of Envestnet 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 transaction, 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. Company insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ENV. Nomura Holdings Inc. purchased a new stake in shares of Envestnet during the 4th quarter valued at $432,000. Quadrature Capital Ltd purchased a new stake in Envestnet during the fourth quarter worth about $236,000. Vanguard Group Inc. raised 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 acquiring an additional 687,202 shares during the period. Legal & General Group Plc boosted its stake in Envestnet by 93.5% in 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 acquiring an additional 63,856 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Envestnet during the 4th quarter valued at approximately $526,000.

Envestnet Company Profile

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.