Envestnet (NYSE:ENV) PT Raised to $60.00 at Raymond James

Envestnet (NYSE:ENVGet Free Report) had its price target raised by equities researchers at Raymond James from $52.00 to $60.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Raymond James’ target price would suggest a potential upside of 5.13% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Royal Bank of Canada upped their price objective on shares of Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Friday, February 23rd. StockNews.com raised shares of Envestnet from a “sell” rating to a “hold” rating in a research report on Monday, March 25th. William Blair reissued an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. Finally, DA Davidson increased their target price on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.17.

Get Our Latest Report on ENV

Envestnet Trading Down 0.1 %

Shares of ENV stock opened at $57.07 on Tuesday. Envestnet has a 52-week low of $33.12 and a 52-week high of $66.50. 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 company has a 50-day simple moving average of $53.26 and a two-hundred day simple moving average of $46.83. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -13.06 and a beta of 1.31.

Envestnet (NYSE:ENVGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. The business had revenue of $317.63 million during the quarter, compared to the consensus estimate of $312.24 million. Research analysts anticipate that Envestnet will post 1.78 EPS for the current fiscal year.

Insider Activity

In other news, insider Matthew Majoros sold 700 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Taylor Wolfe acquired 1,670 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost 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 approximately $221,968,274.29. The disclosure for this purchase can be found here. Insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ENV. Hsbc Holdings PLC boosted its holdings in Envestnet by 20,229.7% in the 4th quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock worth $90,027,000 after buying an additional 1,816,020 shares during the period. Vanguard Group Inc. boosted its holdings in Envestnet by 12.9% in the 4th quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock worth $297,885,000 after buying an additional 687,202 shares during the period. Norges Bank purchased a new stake in Envestnet in the 4th quarter worth approximately $25,319,000. Nuveen Asset Management LLC lifted its stake in Envestnet by 206.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 740,671 shares of the business services provider’s stock worth $43,959,000 after purchasing an additional 498,671 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new stake in Envestnet in the 4th quarter worth approximately $21,829,000.

Envestnet Company Profile

(Get Free Report)

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.

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