Several other analysts also recently issued reports on ENV. DA Davidson lifted their target price on Envestnet to $56.00 and gave the company an average rating in a research note on Thursday, July 5th. JPMorgan Chase & Co. began coverage on Envestnet in a research note on Thursday, July 12th. They issued an overweight rating and a $70.00 price objective on the stock. UBS Group lifted their price objective on Envestnet from $62.00 to $68.00 and gave the stock a buy rating in a research note on Friday, August 10th. Finally, Zacks Investment Research raised Envestnet from a sell rating to a hold rating in a research note on Monday, August 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Envestnet has an average rating of Buy and a consensus price target of $63.71.
Shares of ENV opened at $56.12 on Wednesday. The company has a market cap of $2.77 billion, a P/E ratio of 64.27, a price-to-earnings-growth ratio of 3.44 and a beta of 1.94. Envestnet has a 12-month low of $47.45 and a 12-month high of $64.80. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.41 and a current ratio of 1.41.
Envestnet (NYSE:ENV) last issued its earnings results on Tuesday, August 7th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $201.12 million for the quarter, compared to the consensus estimate of $199.52 million. Envestnet had a return on equity of 10.75% and a net margin of 2.50%. On average, equities analysts expect that Envestnet will post 1.25 EPS for the current year.
In other Envestnet news, insider Anil Arora sold 4,551 shares of Envestnet stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $62.40, for a total value of $283,982.40. Following the sale, the insider now owns 75,388 shares of the company’s stock, valued at approximately $4,704,211.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Judson Bergman sold 25,000 shares of Envestnet stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $59.04, for a total value of $1,476,000.00. Following the completion of the sale, the chief executive officer now directly owns 730,673 shares in the company, valued at approximately $43,138,933.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,196 shares of company stock worth $4,108,654. Corporate insiders own 5.49% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY increased its position in shares of Envestnet by 6.3% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 14,445 shares of the business services provider’s stock valued at $794,000 after purchasing an additional 854 shares during the last quarter. United Services Automobile Association increased its position in shares of Envestnet by 13.2% during the 2nd quarter. United Services Automobile Association now owns 7,421 shares of the business services provider’s stock valued at $408,000 after purchasing an additional 866 shares during the last quarter. Amalgamated Bank increased its position in shares of Envestnet by 16.2% during the 2nd quarter. Amalgamated Bank now owns 6,759 shares of the business services provider’s stock valued at $371,000 after purchasing an additional 942 shares during the last quarter. US Bancorp DE increased its position in shares of Envestnet by 11.5% during the 2nd quarter. US Bancorp DE now owns 9,593 shares of the business services provider’s stock valued at $527,000 after purchasing an additional 989 shares during the last quarter. Finally, Greenwood Capital Associates LLC increased its position in shares of Envestnet by 27.7% during the 2nd quarter. Greenwood Capital Associates LLC now owns 4,832 shares of the business services provider’s stock valued at $266,000 after purchasing an additional 1,049 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness 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, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide 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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