Envestnet (NYSE:ENV) Upgraded at StockNews.com

Envestnet (NYSE:ENV) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also weighed in on ENV. Royal Bank of Canada raised their price objective on Envestnet from $56.00 to $64.00 and gave the company a “sector perform” rating in a research report on Wednesday. William Blair restated an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. Jefferies Financial Group raised Envestnet from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $47.00 to $59.00 in a report on Wednesday. DA Davidson raised their target price on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Raymond James upped their price target on shares of Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.14.

Envestnet Stock Up 4.0 %

Shares of ENV opened at $66.28 on Friday. 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. The company has a market capitalization of $3.63 billion, a PE ratio of -15.17 and a beta of 1.26. The business’s 50 day moving average is $58.35 and its 200 day moving average is $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, beating the consensus estimate of $0.33 by $0.10. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. The firm had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $312.24 million. Research analysts expect that Envestnet will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Envestnet

In other news, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the sale, the insider now owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 15,212 shares of the company’s stock, valued at $865,867.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of Envestnet stock in a transaction dated Friday, March 15th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. Company insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund boosted its position in Envestnet by 2.1% in the 3rd quarter. New York State Common Retirement Fund now owns 20,063 shares of the business services provider’s stock valued at $883,000 after buying an additional 409 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Envestnet by 2.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider’s stock valued at $1,633,000 after purchasing an additional 543 shares during the period. Illinois Municipal Retirement Fund grew its stake in Envestnet by 2.2% in the first quarter. Illinois Municipal Retirement Fund now owns 28,271 shares of the business services provider’s stock worth $1,637,000 after purchasing an additional 619 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in Envestnet during the 1st quarter worth $38,000. Finally, Texas Permanent School Fund Corp raised its position in Envestnet by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 43,529 shares of the business services provider’s stock valued at $2,521,000 after purchasing an additional 688 shares in 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.