Envestnet, Inc. (NYSE:ENV) Given Average Rating of “Hold” by Brokerages

Envestnet, Inc. (NYSE:ENV) has been assigned a consensus rating of “Hold” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $61.88.

A number of brokerages have issued reports on ENV. UBS Group restated a “neutral” rating and set a $63.15 price objective (down from $75.00) on shares of Envestnet in a research report on Tuesday, July 16th. JMP Securities reiterated a “market outperform” rating and issued a $79.00 target price on shares of Envestnet in a report on Wednesday, April 17th. Royal Bank of Canada upped their price target on Envestnet from $56.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 8th. William Blair reissued a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. Finally, Jefferies Financial Group raised Envestnet from an “underperform” rating to a “hold” rating and lifted their target price for the company from $47.00 to $59.00 in a research report on Wednesday, May 8th.

Envestnet Stock Up 0.0 %

ENV opened at $62.03 on Monday. Envestnet has a twelve month low of $33.12 and a twelve month high of $73.04. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.47. The firm has a 50 day moving average price of $62.24 and a 200-day moving average price of $59.37. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of -17.42 and a beta of 1.28.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Tuesday, May 7th. The business services provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Envestnet had a positive return on equity of 14.75% and a negative net margin of 15.33%. The business had revenue of $324.95 million during the quarter, compared to analysts’ expectations of $324.85 million. Equities research analysts forecast that Envestnet will post 1.79 earnings per share for the current year.

Institutional Trading of Envestnet

A number of institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its position in Envestnet by 415.1% during the fourth quarter. State of Alaska Department of Revenue now owns 30,599 shares of the business services provider’s stock worth $1,515,000 after purchasing an additional 24,659 shares during the period. New York State Teachers Retirement System lifted its position in shares of Envestnet by 50.3% during the fourth quarter. New York State Teachers Retirement System now owns 12,621 shares of the business services provider’s stock valued at $625,000 after purchasing an additional 4,221 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Envestnet by 6.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,499 shares of the business services provider’s stock valued at $6,462,000 after purchasing an additional 7,924 shares during the last quarter. Cambiar Investors LLC raised its stake in shares of Envestnet by 65.5% during the 4th quarter. Cambiar Investors LLC now owns 57,652 shares of the business services provider’s stock worth $2,855,000 after purchasing an additional 22,823 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Envestnet in the 4th quarter worth about $1,233,000.

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.