Shares of Envestnet (NYSE:ENV) have earned a consensus rating of “Buy” from the twelve brokerages that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $55.43.
ENV has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Envestnet from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research report on Tuesday, January 9th. ValuEngine upgraded shares of Envestnet from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Sandler O’Neill reiterated a “hold” rating and set a $56.00 price objective on shares of Envestnet in a research report on Tuesday, April 10th.
Shares of NYSE ENV opened at $55.30 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. Envestnet has a 52-week low of $33.90 and a 52-week high of $60.28. The company has a market capitalization of $2,446.45, a price-to-earnings ratio of 62.84, a price-to-earnings-growth ratio of 2.82 and a beta of 1.76.
Envestnet (NYSE:ENV) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Envestnet had a negative net margin of 0.48% and a positive return on equity of 9.93%. The firm had revenue of $182.86 million during the quarter, compared to analysts’ expectations of $179.20 million. During the same period in the prior year, the company posted $0.32 EPS. The company’s revenue was up 17.6% on a year-over-year basis. research analysts expect that Envestnet will post 1.29 earnings per share for the current year.
In other Envestnet news, CTO Scott D. Grinis sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $59.75, for a total value of $2,390,000.00. Following the completion of the sale, the chief technology officer now directly owns 205,340 shares in the company, valued at $12,269,065. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anil Arora sold 557 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $57.40, for a total transaction of $31,971.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,767 shares of company stock valued at $3,711,157. 5.58% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of ENV. Ameriprise Financial Inc. grew its holdings in Envestnet by 33.8% in the third quarter. Ameriprise Financial Inc. now owns 127,868 shares of the business services provider’s stock worth $6,521,000 after purchasing an additional 32,310 shares during the period. Legal & General Group Plc grew its holdings in Envestnet by 16.5% in the third quarter. Legal & General Group Plc now owns 18,188 shares of the business services provider’s stock worth $925,000 after purchasing an additional 2,576 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Envestnet by 10.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 204,030 shares of the business services provider’s stock worth $10,406,000 after purchasing an additional 18,533 shares during the period. Royce & Associates LP acquired a new stake in Envestnet in the third quarter worth $306,000. Finally, First Republic Investment Management Inc. acquired a new stake in Envestnet in the third quarter worth $204,000. Institutional investors and hedge funds own 93.20% of the company’s stock.
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Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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