Envestnet (NYSE:ENV) Upgraded by Jefferies Financial Group to Hold

Jefferies Financial Group upgraded shares of Envestnet (NYSE:ENV) from an underperform rating to a hold rating in a research report released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has $59.00 price target on the business services provider’s stock, up from their previous price target of $47.00.

Other analysts have also issued research reports about the stock. Royal Bank of Canada lifted their price objective on shares of Envestnet from $47.00 to $56.00 and gave the company a sector perform rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a report on Friday, February 23rd. DA Davidson lifted their target price on Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. JMP Securities reissued a market outperform rating and issued a $79.00 price target on shares of Envestnet in a report on Wednesday, April 17th. Finally, Raymond James lifted their price objective on Envestnet from $52.00 to $60.00 and gave the stock an outperform rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Envestnet currently has a consensus rating of Hold and an average price target of $64.14.

Envestnet Stock Performance

NYSE:ENV opened at $63.68 on Wednesday. Envestnet has a twelve month low of $33.12 and a twelve month high of $68.83. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -14.57 and a beta of 1.26. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm’s fifty day simple moving average is $58.05 and its 200 day simple moving average is $49.90.

Envestnet (NYSE:ENV) last issued its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $312.24 million. As a group, equities research analysts expect that Envestnet will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Lauren Taylor Wolfe acquired 1,670 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the purchase, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Matthew Majoros sold 700 shares of the firm’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 directly owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Taylor Wolfe bought 1,670 shares of the business’s stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following 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. Company insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Envestnet

A number of hedge funds and other institutional investors have recently modified their holdings of ENV. YHB Investment Advisors Inc. bought a new position in Envestnet during the 1st quarter valued at $38,000. Headlands Technologies LLC bought a new position in Envestnet during the third quarter valued at about $45,000. Quest Partners LLC acquired a new position in Envestnet during the fourth quarter worth about $58,000. SG Americas Securities LLC bought a new stake in Envestnet in the first quarter worth about $168,000. Finally, PNC Financial Services Group Inc. lifted its holdings 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 valued at $217,000 after acquiring an additional 802 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.