Envestnet (NYSE:ENV) had its price target hoisted by Raymond James from $82.00 to $83.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has a strong-buy rating on the business services provider’s stock.
A number of other analysts also recently commented on ENV. Buckingham Research downgraded shares of Envestnet from a buy rating to a neutral rating and set a $73.00 price objective for the company. in a report on Thursday, May 9th. Zacks Investment Research downgraded shares of GenMark Diagnostics from a hold rating to a sell rating in a report on Wednesday, April 24th. William Blair restated an outperform rating on shares of Envestnet in a report on Thursday, March 14th. DA Davidson downgraded shares of Envestnet from a buy rating to a neutral rating and raised their price target for the stock from $64.00 to $67.00 in a report on Wednesday, March 20th. They noted that the move was a valuation call. Finally, UBS Group raised their price target on shares of Verisk Analytics from $106.00 to $111.00 and gave the stock a sell rating in a report on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $73.30.
ENV stock opened at $72.74 on Thursday. The firm has a market cap of $3.55 billion, a P/E ratio of 60.12, a price-to-earnings-growth ratio of 3.21 and a beta of 1.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.03 and a current ratio of 1.03. Envestnet has a 12 month low of $46.57 and a 12 month high of $73.22. The company has a 50-day simple moving average of $68.81.
Envestnet (NYSE:ENV) last released its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.04). The business had revenue of $199.70 million during the quarter, compared to analyst estimates of $201.37 million. Envestnet had a negative net margin of 2.52% and a positive return on equity of 10.28%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 EPS. As a group, analysts anticipate that Envestnet will post 1.4 earnings per share for the current year.
In related news, Director Anil Arora sold 2,261 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $66.79, for a total transaction of $151,012.19. Following the completion of the transaction, the director now owns 40,706 shares of the company’s stock, valued at approximately $2,718,753.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stuart Depina sold 4,805 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $71.21, for a total transaction of $342,164.05. Following the transaction, the insider now directly owns 44,512 shares of the company’s stock, valued at approximately $3,169,699.52. The disclosure for this sale can be found here. Insiders have sold a total of 75,369 shares of company stock valued at $5,209,422 in the last 90 days. Insiders own 4.97% of the company’s stock.
Several large investors have recently bought and sold shares of ENV. Norges Bank purchased a new position in shares of Envestnet during the 4th quarter worth approximately $25,851,000. TimesSquare Capital Management LLC purchased a new position in shares of Envestnet during the 1st quarter worth approximately $30,983,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Envestnet during the 1st quarter worth approximately $14,386,000. BlackRock Inc. boosted its position in shares of Envestnet by 4.8% during the 4th quarter. BlackRock Inc. now owns 3,352,246 shares of the business services provider’s stock worth $164,898,000 after purchasing an additional 152,126 shares during the period. Finally, Champlain Investment Partners LLC boosted its position in shares of Envestnet by 21.1% during the 1st quarter. Champlain Investment Partners LLC now owns 766,335 shares of the business services provider’s stock worth $50,111,000 after purchasing an additional 133,585 shares during the period. 93.83% of the stock is owned by hedge funds and other institutional investors.
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 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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