Envestnet (NYSE:ENV) had its target price boosted by DA Davidson from $67.00 to $74.00 in a research report sent to investors on Friday morning, Stock Target Advisor reports. The firm currently has a buy rating on the business services provider’s stock.
A number of other research firms also recently commented on ENV. Raymond James increased their target price on Envestnet from $82.00 to $83.00 and gave the company a strong-buy rating in a research report on Thursday, July 11th. Buckingham Research lowered their target price on Envestnet from $71.00 to $68.00 and set a neutral rating for the company in a research report on Friday. Zacks Investment Research downgraded Envestnet from a hold rating to a sell rating in a research report on Tuesday, August 13th. Finally, ValuEngine downgraded Envestnet from a buy rating to a hold rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $74.00.
Shares of NYSE ENV traded up $1.24 during midday trading on Friday, reaching $64.44. 762,836 shares of the stock traded hands, compared to its average volume of 327,360. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $3.28 billion, a PE ratio of 51.55, a P/E/G ratio of 2.80 and a beta of 1.76. Envestnet has a one year low of $46.57 and a one year high of $73.94. The company’s 50 day moving average is $59.77 and its 200 day moving average is $64.58.
Envestnet (NYSE:ENV) last posted its earnings results on Thursday, November 7th. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $236.08 million during the quarter, compared to the consensus estimate of $233.02 million. Envestnet had a positive return on equity of 9.15% and a negative net margin of 1.72%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. As a group, equities analysts forecast that Envestnet will post 1.28 EPS for the current year.
In other news, CFO Peter D’arrigo sold 5,000 shares of Envestnet stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $62.81, for a total transaction of $314,050.00. Following the completion of the sale, the chief financial officer now directly owns 57,747 shares in the company, valued at $3,627,089.07. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Joshua Mayer sold 6,881 shares of Envestnet stock in a transaction on Friday, August 16th. The stock was sold at an average price of $56.15, for a total value of $386,368.15. Following the sale, the chief operating officer now owns 20,190 shares of the company’s stock, valued at $1,133,668.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,375 shares of company stock valued at $6,795,807. 4.97% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors bought a new stake in shares of Envestnet during the second quarter worth $27,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Envestnet during the second quarter valued at $34,000. Hudock Capital Group LLC purchased a new position in shares of Envestnet during the second quarter valued at $46,000. Marshall Wace LLP purchased a new position in shares of Envestnet during the first quarter valued at $50,000. Finally, SRS Capital Advisors Inc. purchased a new position in shares of Envestnet during the second quarter valued at $83,000. Institutional investors and hedge funds own 89.78% of the company’s stock.
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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