Envestnet (NYSE:ENV) Raised to “Hold” at Jefferies Financial Group

Envestnet (NYSE:ENV) was upgraded by research analysts at Jefferies Financial Group from an “underperform” rating to a “hold” rating in a research note issued on Wednesday, Marketbeat reports. The firm presently has a $59.00 price target on the business services provider’s stock, up from their previous price target of $47.00. Jefferies Financial Group’s price target would suggest a potential downside of 10.98% from the company’s previous close.

A number of other research firms have also commented on ENV. Raymond James boosted their price target on shares of Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. DA Davidson boosted their target price on Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. JMP Securities restated a “market outperform” rating and set a $79.00 price target on shares of Envestnet in a research report on Wednesday, April 17th. Royal Bank of Canada lifted their price objective on Envestnet from $47.00 to $56.00 and gave the company a “sector perform” rating in a research report on Friday, February 23rd. Finally, StockNews.com cut Envestnet from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $64.14.

Envestnet Trading Up 4.0 %

Shares of ENV opened at $66.28 on Wednesday. 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 stock has a market cap of $3.63 billion, a PE ratio of -15.17 and a beta of 1.26. Envestnet has a 1 year low of $33.12 and a 1 year high of $68.83. The stock has a 50 day simple moving average of $58.35 and a 200-day simple moving average of $50.02.

Envestnet (NYSE:ENV) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) 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 firm had revenue of $317.63 million during the quarter, compared to analyst estimates of $312.24 million. On average, sell-side analysts predict that Envestnet will post 1.78 EPS for the current fiscal year.

Insider Activity

In other Envestnet news, 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 acquired at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the purchase, the director now owns 4,188,871 shares in the company, valued at $221,968,274.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lauren Taylor Wolfe purchased 1,670 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the purchase, the director now owns 4,188,871 shares in the company, valued at $221,968,274.29. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew Majoros sold 700 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the transaction, the insider now directly owns 15,212 shares in the company, valued at $865,867.04. The disclosure for this sale can be found here. Insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted 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 acquiring an additional 687,202 shares during the period. Hsbc Holdings PLC boosted its holdings in Envestnet by 20,229.7% in the 4th 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. boosted its holdings in Envestnet by 33.2% in the 3rd 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. Stephens Investment Management Group LLC grew its position in shares of Envestnet by 14.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider’s stock worth $81,762,000 after purchasing an additional 207,632 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Envestnet by 0.9% during the fourth quarter. Clearbridge Investments LLC now owns 1,203,280 shares of the business services provider’s stock worth $59,586,000 after purchasing an additional 10,360 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.