Envestnet, Inc. (NYSE:ENV) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Envestnet, Inc. (NYSE:ENV) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $63.67.

ENV has been the topic of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and set a $79.00 target price on shares of Envestnet in a report on Wednesday, April 17th. StockNews.com lowered Envestnet from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. boosted their target price on 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 boosted their target price on Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a report on Friday, February 23rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th.

Insider Activity

In other news, insider Matthew Majoros sold 700 shares of the company’s 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 in the company, valued at approximately $865,867.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Matthew Majoros sold 700 shares of the company’s 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 in the company, valued at approximately $865,867.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Taylor Wolfe bought 1,670 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 4,188,871 shares in the company, 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.

Institutional Trading of Envestnet

Several institutional investors and hedge funds have recently modified their holdings of ENV. Hsbc Holdings PLC lifted its position in shares of Envestnet by 20,229.7% during the 4th quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock worth $90,027,000 after buying an additional 1,816,020 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Envestnet by 12.9% during the 4th quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock worth $297,885,000 after buying an additional 687,202 shares during the last quarter. Norges Bank bought a new stake in shares of Envestnet during the 4th quarter worth $25,319,000. Schroder Investment Management Group bought a new stake in shares of Envestnet during the 4th quarter worth $21,829,000. Finally, Van Berkom & Associates Inc. lifted its position in shares of Envestnet by 33.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock worth $77,603,000 after buying an additional 438,994 shares during the last quarter.

Envestnet Trading Down 0.3 %

Shares of Envestnet stock opened at $62.15 on Friday. Envestnet has a 12-month low of $33.12 and a 12-month high of $68.83. The stock has a market cap of $3.41 billion, a P/E ratio of -14.22 and a beta of 1.31. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. The business’s 50 day moving average is $55.90 and its 200-day moving average is $48.54.

Envestnet (NYSE:ENV) last announced its quarterly earnings data 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 company had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $312.24 million. Equities research analysts predict that Envestnet will post 1.78 earnings per share for the current fiscal year.

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.