Envestnet (NYSE:ENV) Stock Rating Reaffirmed by JMP Securities

JMP Securities reiterated their market outperform rating on shares of Envestnet (NYSE:ENV) in a research note published on Wednesday, Benzinga reports. The firm currently has a $79.00 target price on the business services provider’s stock.

A number of other brokerages have also recently weighed in on ENV. StockNews.com upgraded Envestnet from a sell rating to a hold rating in a research report on Monday, March 25th. Royal Bank of Canada increased 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. JPMorgan Chase & Co. increased their price target on Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a research report on Friday, February 23rd. Raymond James increased their price target on Envestnet from $52.00 to $60.00 and gave the stock an outperform rating in a research report on Tuesday, April 2nd. Finally, DA Davidson increased their price target on Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $63.67.

Envestnet Trading Up 1.8 %

Shares of NYSE ENV opened at $63.33 on Wednesday. The stock’s 50 day moving average price is $55.04 and its two-hundred day moving average price is $47.91. Envestnet has a 52-week low of $33.12 and a 52-week high of $68.83. The stock has a market capitalization of $3.47 billion, a P/E ratio of -14.49 and a beta of 1.31. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53.

Envestnet (NYSE:ENV) last announced 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 positive return on equity of 12.27% and a negative net margin of 19.17%. The firm had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $312.24 million. On average, analysts anticipate that Envestnet will post 1.78 earnings per share for the current fiscal year.

Insider Activity at Envestnet

In related news, insider Matthew Majoros sold 700 shares of the firm’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 value of $39,844.00. Following the sale, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Lauren Taylor Wolfe purchased 1,670 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was purchased at an average cost of $52.99 per share, with a total value of $88,493.30. Following the purchase, the director now owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew Majoros sold 700 shares of the stock in a transaction 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 transaction, the insider now directly owns 15,212 shares of the company’s stock, valued at $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Envestnet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Envestnet during the 3rd quarter valued at $45,000. McIlrath & Eck LLC boosted its stake in Envestnet by 140.8% during the 4th quarter. McIlrath & Eck LLC now owns 802 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 469 shares in the last quarter. Quest Partners LLC bought a new position in Envestnet during the 4th quarter valued at $58,000. State of Tennessee Treasury Department bought a new position in Envestnet during the 2nd quarter valued at $59,000. Finally, Covestor Ltd boosted its stake in Envestnet by 86.2% during the 1st quarter. Covestor Ltd now owns 1,398 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 647 shares in the last quarter.

About Envestnet

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.