Envestnet, Inc. (NYSE:ENV) Receives $63.67 Average Target Price from Analysts

Shares of Envestnet, Inc. (NYSE:ENV) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $63.67.

A number of analysts have issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. Raymond James raised their target price on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. DA Davidson raised their price objective on Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada raised their target price on Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Friday, February 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $79.00 price target on shares of Envestnet in a report on Wednesday, April 17th.

Envestnet Stock Performance

Shares of NYSE ENV opened at $62.08 on Friday. 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 firm has a market cap of $3.40 billion, a price-to-earnings ratio of -14.20 and a beta of 1.31. The business’s 50-day simple moving average is $56.83 and its 200-day simple moving average is $49.14. Envestnet has a 52 week low of $33.12 and a 52 week high of $68.83.

Envestnet (NYSE:ENV) last issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The business had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. 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, 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 completion of the sale, the insider now directly owns 15,212 shares of the company’s stock, valued at $865,867.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Envestnet news, Director Lauren Taylor Wolfe bought 1,670 shares of Envestnet 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 acquisition, the director now owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Matthew Majoros sold 700 shares of Envestnet 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 transaction, the insider now owns 15,212 shares in the company, valued at $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. bought a new stake in shares of Envestnet in the first quarter valued at about $38,000. Headlands Technologies LLC bought a new stake in Envestnet during the third quarter worth about $45,000. Quest Partners LLC bought a new stake in Envestnet during the fourth quarter worth about $58,000. PNC Financial Services Group Inc. raised its holdings in Envestnet by 19.4% during the third quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock worth $217,000 after acquiring an additional 802 shares in the last quarter. Finally, Argent Capital Management LLC increased its position in Envestnet by 32.7% during the third quarter. Argent Capital Management LLC now owns 5,167 shares of the business services provider’s stock worth $228,000 after buying an additional 1,274 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.