Envestnet (NYSE:ENV) PT Raised to $74.00 at DA Davidson

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.

About Envestnet

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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Analyst Recommendations for Envestnet (NYSE:ENV)

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