DA Davidson Increases Envestnet (NYSE:ENV) Price Target to $67.00

Envestnet (NYSE:ENV) had its target price upped by equities research analysts at DA Davidson from $62.00 to $67.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. DA Davidson’s price target would suggest a potential upside of 17.40% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. upped their price target on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Raymond James upped their price target on shares of Envestnet from $46.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. StockNews.com raised shares of Envestnet from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Finally, William Blair reissued an “outperform” rating on shares of Envestnet in a research note on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.17.

Envestnet Stock Performance

Shares of ENV opened at $57.07 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $3.13 billion, a P/E ratio of -13.06 and a beta of 1.31. The company’s fifty day moving average is $53.26 and its two-hundred day moving average is $46.83. Envestnet has a 1 year low of $33.12 and a 1 year high of $66.50.

Envestnet (NYSE:ENV) last announced its quarterly earnings data 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. The company had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. On average, sell-side analysts predict that Envestnet will post 1.78 earnings per share for the current year.

Insiders Place Their Bets

In other Envestnet news, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other Envestnet news, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the purchase, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The disclosure for this purchase can be found here. 9.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ENV. Hsbc Holdings PLC lifted its holdings in shares of Envestnet by 20,229.7% during the 4th quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock worth $90,027,000 after acquiring an additional 1,816,020 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Envestnet by 12.9% during the 4th 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. Norges Bank purchased a new position in shares of Envestnet during the 4th quarter worth about $25,319,000. Nuveen Asset Management LLC raised its holdings in Envestnet by 206.1% in the second quarter. Nuveen Asset Management LLC now owns 740,671 shares of the business services provider’s stock valued at $43,959,000 after buying an additional 498,671 shares during the period. Finally, Schroder Investment Management Group purchased a new position in Envestnet in the fourth quarter valued at approximately $21,829,000.

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.