Envestnet (ENV) Reaches New 52-Week High at $56.20

Envestnet Inc (NYSE:ENV)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $56.20 and last traded at $56.25, with a volume of 69694 shares changing hands. The stock had previously closed at $54.95.

A number of equities analysts have issued reports on the company. UBS Group decreased their price target on Envestnet from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $62.00 price target (up from $52.00) on shares of Envestnet in a research note on Thursday, November 9th. Royal Bank of Canada reaffirmed a “hold” rating on shares of Envestnet in a research note on Tuesday, November 7th. Finally, Zacks Investment Research raised Envestnet from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research note on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Envestnet presently has a consensus rating of “Buy” and a consensus price target of $55.00.

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $2,434.60, a P/E ratio of -45.53, a PEG ratio of 2.73 and a beta of 1.96.

In other news, Director Gayle A. Crowell sold 746 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $48.90, for a total transaction of $36,479.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shelly O’brien sold 3,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $53.06, for a total value of $159,180.00. The disclosure for this sale can be found here. Insiders have sold a total of 187,694 shares of company stock valued at $9,480,716 in the last quarter. Insiders own 7.80% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Envestnet by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,454,623 shares of the business services provider’s stock valued at $136,803,000 after acquiring an additional 188,892 shares during the last quarter. BlackRock Inc. lifted its position in shares of Envestnet by 1.0% during the 4th quarter. BlackRock Inc. now owns 2,699,362 shares of the business services provider’s stock valued at $134,564,000 after acquiring an additional 27,689 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in shares of Envestnet by 6.3% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,434,756 shares of the business services provider’s stock valued at $73,173,000 after acquiring an additional 85,642 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Envestnet by 4.9% during the 3rd quarter. Brown Advisory Inc. now owns 885,250 shares of the business services provider’s stock valued at $45,148,000 after acquiring an additional 41,176 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Envestnet by 7.1% during the 2nd quarter. State Street Corp now owns 794,155 shares of the business services provider’s stock valued at $31,449,000 after acquiring an additional 52,546 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

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About Envestnet

Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.

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