Envestnet (NYSE:ENV) Sees Large Volume Increase

Envestnet, Inc. (NYSE:ENV) saw an uptick in trading volume on Wednesday . 1,085,842 shares changed hands during mid-day trading, an increase of 123% from the previous session’s volume of 487,814 shares.The stock last traded at $61.68 and had previously closed at $61.80.

Analysts Set New Price Targets

A number of brokerages have recently commented on ENV. DA Davidson lifted their target price on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. William Blair reiterated an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. JPMorgan Chase & Co. upped their price objective on shares of Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $79.00 price objective on shares of Envestnet in a research report on Wednesday. Finally, Royal Bank of Canada raised their price objective on Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $63.67.

Envestnet Trading Up 0.6 %

The company has a market cap of $3.41 billion, a P/E ratio of -14.13 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. The business has a 50-day moving average price of $54.40 and a two-hundred day moving average price of $47.57.

Envestnet (NYSE:ENV) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.10. The company had revenue of $317.63 million during the quarter, compared to the consensus estimate of $312.24 million. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. On average, analysts predict that Envestnet, Inc. will post 1.78 EPS for the current year.

Insider Transactions at Envestnet

In other news, Director Lauren Taylor Wolfe purchased 1,670 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $52.99 per share, with a total value of $88,493.30. Following the acquisition, the director now owns 4,188,871 shares in the company, valued at approximately $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, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction dated 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 owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Taylor Wolfe acquired 1,670 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the purchase, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The disclosure for this purchase can be found here. 8.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Envestnet

Institutional investors have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of Envestnet in the third quarter worth about $45,000. McIlrath & Eck LLC raised 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 buying an additional 469 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Envestnet during the 4th quarter valued at $58,000. State of Tennessee Treasury Department bought a new stake in shares of Envestnet during the 2nd quarter valued at $59,000. Finally, Covestor Ltd grew its position in shares of 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 acquiring an additional 647 shares during the period.

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.