Envestnet (NYSE:ENV) Sees Unusually-High Trading Volume

Envestnet, Inc. (NYSE:ENV) saw an uptick in trading volume on Friday . 591,865 shares changed hands during mid-day trading, an increase of 30% from the previous session’s volume of 454,574 shares.The stock last traded at $39.31 and had previously closed at $37.49.

Analysts Set New Price Targets

Several research firms have issued reports on ENV. StockNews.com cut shares of Envestnet from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. DA Davidson lowered their price objective on shares of Envestnet from $72.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, October 4th. TheStreet cut shares of Envestnet from a “c-” rating to a “d+” rating in a research report on Tuesday, September 19th. JMP Securities lowered their price objective on shares of Envestnet from $80.00 to $78.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 10th. Finally, Raymond James lowered their price objective on shares of Envestnet from $72.00 to $67.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.60.

Envestnet Stock Performance

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.19. The company’s fifty day moving average is $45.02 and its 200 day moving average is $53.01. The company has a market cap of $2.21 billion, a P/E ratio of -19.05 and a beta of 1.30.

Envestnet (NYSE:ENV) last released its earnings results on Thursday, August 3rd. The business services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. Envestnet had a negative net margin of 8.79% and a positive return on equity of 7.80%. The company had revenue of $312.43 million for the quarter, compared to analyst estimates of $315.10 million. As a group, equities analysts predict that Envestnet, Inc. will post 1.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Envestnet

Several institutional investors and hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System grew its holdings in Envestnet by 4.3% in the 3rd quarter. California Public Employees Retirement System now owns 278,135 shares of the business services provider’s stock worth $12,246,000 after acquiring an additional 11,568 shares during the last quarter. Cambiar Investors LLC grew its holdings in Envestnet by 14.5% in the 3rd quarter. Cambiar Investors LLC now owns 34,829 shares of the business services provider’s stock worth $1,534,000 after acquiring an additional 4,400 shares during the last quarter. Summit Creek Advisors LLC grew its holdings in Envestnet by 0.4% in the 3rd quarter. Summit Creek Advisors LLC now owns 345,682 shares of the business services provider’s stock worth $15,220,000 after acquiring an additional 1,248 shares during the last quarter. TD Asset Management Inc grew its holdings in Envestnet by 39.8% in the 3rd quarter. TD Asset Management Inc now owns 35,834 shares of the business services provider’s stock worth $1,578,000 after acquiring an additional 10,200 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Envestnet by 13.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,575 shares of the business services provider’s stock worth $5,397,000 after acquiring an additional 14,916 shares during the last quarter.

About Envestnet

Envestnet, Inc, together with its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through Envestnet Wealth Solutions and Envestnet Data & Analytics segments. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that 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.