StockNews.com Lowers Envestnet (NYSE:ENV) to Sell

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

Several other brokerages also recently weighed in on ENV. Royal Bank of Canada upped their target price on Envestnet from $47.00 to $56.00 and gave the stock a sector perform rating in a research note on Friday, February 23rd. William Blair reaffirmed an outperform rating on shares of Envestnet in a research note on Wednesday, March 27th. JMP Securities reaffirmed a market outperform rating and set a $79.00 target price on shares of Envestnet in a research note on Wednesday, April 17th. DA Davidson boosted their price target on Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $63.67.

Envestnet Trading Up 0.1 %

Shares of NYSE:ENV opened at $62.35 on Monday. Envestnet has a 12-month low of $33.12 and a 12-month high of $68.83. The company has a market capitalization of $3.42 billion, a PE ratio of -14.27 and a beta of 1.31. The business has a 50 day moving average of $55.69 and a two-hundred day moving average of $48.44. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Envestnet (NYSE:ENV) last announced its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.10. The business had revenue of $317.63 million during 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%. As a group, analysts forecast that Envestnet will post 1.78 EPS for the current year.

Insider Buying and Selling at Envestnet

In related news, Director Lauren Taylor Wolfe bought 1,670 shares of the company’s stock in a transaction on Friday, March 15th. The stock was bought at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the acquisition, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Envestnet news, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction on Monday, March 25th. The stock was 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 in the company, valued at approximately $865,867.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lauren Taylor Wolfe bought 1,670 shares of the company’s stock in a transaction on Friday, March 15th. The stock was bought at an average price of $52.99 per share, with a total value of $88,493.30. Following the completion of the acquisition, the director now owns 4,188,871 shares in the company, valued at $221,968,274.29. The disclosure for this purchase can be found here. 8.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Envestnet

Several large investors have recently modified their holdings of the business. New York State Common Retirement Fund lifted its stake in shares of Envestnet by 2.1% in the 3rd quarter. New York State Common Retirement Fund now owns 20,063 shares of the business services provider’s stock valued at $883,000 after purchasing an additional 409 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Envestnet by 19.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock worth $217,000 after acquiring an additional 802 shares in the last quarter. Headlands Technologies LLC acquired a new position in Envestnet during the 3rd quarter worth about $45,000. Victory Capital Management Inc. lifted its stake in Envestnet by 11.7% during the 3rd quarter. Victory Capital Management Inc. now owns 9,907 shares of the business services provider’s stock worth $436,000 after acquiring an additional 1,035 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Envestnet during the 4th quarter worth about $58,000.

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.