Brokerages Set Envestnet, Inc. (NYSE:ENV) PT at $63.67

Envestnet, Inc. (NYSE:ENV) has been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $63.67.

A number of research firms recently commented on ENV. JPMorgan Chase & Co. boosted their target price on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Royal Bank of Canada upped their price target on Envestnet from $47.00 to $56.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. William Blair reiterated an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. StockNews.com cut Envestnet from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $79.00 target price on shares of Envestnet in a research report on Wednesday, April 17th.

Envestnet Stock Up 1.1 %

Shares of ENV stock opened at $62.83 on Friday. Envestnet has a 1 year low of $33.12 and a 1 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 business’s fifty day moving average is $56.32 and its 200-day moving average is $48.90. The stock has a market cap of $3.44 billion, a PE ratio of -14.38 and a beta of 1.31.

Envestnet (NYSE:ENV) last released its earnings results 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 positive return on equity of 12.27% and a negative net margin of 19.17%. The firm had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. Equities analysts expect that Envestnet will post 1.78 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the transaction, the insider now owns 15,212 shares in the company, valued at $865,867.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $39,844.00. Following the completion of the sale, the insider now directly owns 15,212 shares of the company’s stock, valued at $865,867.04. The transaction was disclosed in a legal 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 that occurred on Friday, March 15th. The shares were 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 of the company’s stock, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. Corporate insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Envestnet

Several institutional investors and hedge funds have recently modified their holdings of ENV. New York State Common Retirement Fund raised its holdings in shares of Envestnet by 2.1% during the third quarter. New York State Common Retirement Fund now owns 20,063 shares of the business services provider’s stock worth $883,000 after acquiring an additional 409 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in Envestnet in the 1st quarter worth about $38,000. PNC Financial Services Group Inc. increased its position in Envestnet by 19.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock worth $217,000 after purchasing an additional 802 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Envestnet during the 3rd quarter worth about $45,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Envestnet by 11.7% during the 3rd quarter. Victory Capital Management Inc. now owns 9,907 shares of the business services provider’s stock valued at $436,000 after buying an additional 1,035 shares during the last quarter.

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.