Envestnet (NYSE:ENV) Rating Reiterated by JMP Securities

Envestnet (NYSE:ENV)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a report issued on Wednesday, Benzinga reports. They currently have a $79.00 price target on the business services provider’s stock. JMP Securities’ price target indicates a potential upside of 26.97% from the stock’s current price.

A number of other analysts have also recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. DA Davidson boosted their price objective on Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Royal Bank of Canada boosted their price objective on Envestnet from $47.00 to $56.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. StockNews.com raised Envestnet from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Envestnet presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Envestnet Stock Performance

Shares of ENV opened at $62.22 on Wednesday. The stock has a 50-day moving average of $54.82 and a two-hundred day moving average of $47.77. Envestnet has a one year low of $33.12 and a one year high of $68.83. 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 cap of $3.41 billion, a P/E ratio of -14.24 and a beta of 1.31.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $312.24 million. As a group, research analysts predict that Envestnet will post 1.78 EPS for the current year.

Insider Buying and Selling

In related news, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction dated 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 transaction, the insider now 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 is accessible through the SEC website. In other news, Director Lauren Taylor Wolfe acquired 1,670 shares of the business’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 purchase, the director now owns 4,188,871 shares in the company, valued at $221,968,274.29. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 15,212 shares of the company’s stock, valued at $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Envestnet

Large investors have recently bought and sold shares of the company. McIlrath & Eck LLC increased its stake in Envestnet by 140.8% during the 4th quarter. McIlrath & Eck LLC now owns 802 shares of the business services provider’s stock worth $49,000 after buying an additional 469 shares in the last quarter. State of Tennessee Treasury Department purchased a new stake in Envestnet during the 2nd quarter worth approximately $59,000. Headlands Technologies LLC purchased a new stake in shares of Envestnet in the third quarter valued at approximately $45,000. Quest Partners LLC purchased a new stake in shares of Envestnet in the fourth quarter valued at approximately $58,000. Finally, Covestor Ltd grew its position in shares of Envestnet by 86.2% in the first quarter. Covestor Ltd now owns 1,398 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 647 shares in the last quarter.

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.