Envestnet (NYSE:ENV) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Envestnet (NYSE:ENV) from a sell rating to a hold rating in a research report report published on Monday morning.

Several other research firms have also recently issued reports on ENV. DA Davidson raised their target price on Envestnet from $66.00 to $70.00 and gave the stock a buy rating in a research note on Wednesday, January 3rd. Raymond James raised their target price on Envestnet from $46.00 to $55.00 and gave the stock an outperform rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. raised their target price on Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Friday, February 23rd. Finally, Royal Bank of Canada raised their price target on Envestnet from $47.00 to $56.00 and gave the stock a sector perform rating in a research report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $62.83.

Envestnet Price Performance

Shares of Envestnet stock opened at $57.91 on Monday. The business has a 50 day simple moving average of $52.76 and a two-hundred day simple moving average of $46.67. Envestnet has a 12 month low of $33.12 and a 12 month high of $66.50. The stock has a market capitalization of $3.17 billion, a P/E ratio of -13.25 and a beta of 1.30. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.90 and a quick ratio of 0.90.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating 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 analysts’ expectations of $312.24 million. As a group, analysts predict that Envestnet will post 1.78 EPS for the current fiscal year.

Insider Activity at Envestnet

In other Envestnet news, Director Lauren Taylor Wolfe acquired 1,670 shares of the stock in a transaction on Friday, March 15th. The shares were bought at an average price of $52.99 per share, with a total value of $88,493.30. Following the acquisition, the director now owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Envestnet news, Director Lauren Taylor Wolfe acquired 1,670 shares of the stock in a transaction on Friday, March 15th. The shares were bought at an average price of $52.99 per share, with a total value of $88,493.30. Following the acquisition, the director now owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction that occurred on 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 directly owns 15,212 shares in the company, valued at approximately $865,867.04. The disclosure for this sale can be found here. 9.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Envestnet

A number of institutional investors and hedge funds have recently bought and sold shares of ENV. Hsbc Holdings PLC raised 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 acquiring an additional 1,816,020 shares during the last quarter. Vanguard Group Inc. raised its holdings in Envestnet by 12.9% in the 4th 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 last quarter. Norges Bank acquired a new position in Envestnet in the 4th quarter valued at $25,319,000. Nuveen Asset Management LLC raised its holdings in Envestnet by 206.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 740,671 shares of the business services provider’s stock valued at $43,959,000 after acquiring an additional 498,671 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new position in Envestnet in the 4th quarter valued at $21,829,000.

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.