Envestnet (NYSE:ENV) Stock Rating Reaffirmed by JMP Securities

JMP Securities restated their market outperform rating on shares of Envestnet (NYSE:ENV) in a research note released on Wednesday morning, Benzinga reports. JMP Securities currently has a $79.00 price objective on the business services provider’s stock.

ENV has been the subject of several other research reports. Royal Bank of Canada raised their target price on shares of Envestnet from $47.00 to $56.00 and gave the stock a sector perform rating in a report on Friday, February 23rd. DA Davidson raised their target price on shares of Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. Raymond James raised their target price on shares of Envestnet from $52.00 to $60.00 and gave the stock an outperform rating in a report on Tuesday, April 2nd. StockNews.com raised shares of Envestnet from a sell rating to a hold rating in a report on Monday, March 25th. Finally, William Blair reissued an outperform rating on shares of Envestnet in a report on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $63.67.

Envestnet Trading Up 0.6 %

NYSE ENV opened at $62.19 on Wednesday. The company has a fifty day simple moving average of $54.61 and a two-hundred day simple moving average of $47.67. The stock has a market cap of $3.41 billion, a P/E ratio of -14.23 and a beta of 1.31. Envestnet has a 12-month low of $33.12 and a 12-month high of $68.83. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Envestnet (NYSE:ENV) last posted its quarterly 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. The business had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. On average, analysts forecast that Envestnet will post 1.78 earnings per share for the current year.

Insider Activity at Envestnet

In related news, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the sale, the insider now owns 15,212 shares in the company, valued at $865,867.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the sale, the insider now owns 15,212 shares in the company, valued at $865,867.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the transaction, 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. 8.90% of the stock is owned by company insiders.

Institutional Trading of Envestnet

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Envestnet by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock valued at $297,885,000 after purchasing an additional 687,202 shares during the period. Hsbc Holdings PLC grew its position in shares of Envestnet by 20,229.7% in the fourth quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock valued at $90,027,000 after purchasing an additional 1,816,020 shares during the period. Van Berkom & Associates Inc. grew its position in shares of Envestnet by 33.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock valued at $77,603,000 after purchasing an additional 438,994 shares during the period. State Street Corp grew its position in shares of Envestnet by 2.7% in the first quarter. State Street Corp now owns 1,713,638 shares of the business services provider’s stock valued at $127,563,000 after purchasing an additional 44,600 shares during the period. Finally, Stephens Investment Management Group LLC grew its position in shares of Envestnet by 14.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider’s stock valued at $81,762,000 after purchasing an additional 207,632 shares during the period.

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.