Shares of Envestnet, Inc. (NYSE:ENV – Get Rating) earned a consensus recommendation of “Hold” from the ten analysts who currently cover the company, Marketbeat Ratings reports. One investment analyst gave the stock a sell rating, three gave the company a hold rating and four gave the company a buy rating. The 12-month average price target among brokers who have reported on the stock over the past year is $68.71.
Several research companies have recently commented on ENV. Goldman Sachs Group cut its price target on Envestnet from $65.00 to $56.00 and set a “neutral” rating for the company in a Monday, October 3 report. Royal Bank of Canada cut its price target on Envestnet from $79.00 to $67.00 and set an “sector performance” rating for the company in a Monday, Aug. 1 report. DA Davidson reduced its price target on Envestnet from $70.00 to $64.00 and set a “buy” rating for the company in a Tuesday, October 4 report. StockNews.com began covering Envestnet in a report on Wednesday, October 12. They issued a “sell” rating for the company. Finally, William Blair repeated an “outperforming” rating on Envestnet shares in a Monday July 25 report.
Insider activity at Envestnet
In other Envestnet news, SVP Barry D. Cooper sold 1,290 shares in a trade on Monday, August 22. The stock was sold at an average price of $56.43, for a total transaction of $72,794.70. As a result of the transaction, the senior vice president now owns 25,997 shares of the company, valued at approximately $1,467,010.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. 1.44% of the shares are held by insiders of the company.
Institutional entries and exits
Several large investors have recently increased or reduced their stake in the company. IMA Wealth Inc. increased its position in Envestnet by 0.4% during the 2nd quarter. IMA Wealth Inc. now owns 40,950 shares of the business services provider worth $2,161,000 after purchasing an additional 179 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Envestnet shares by 2.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,280 shares of the business services provider worth $616,000 after buying 198 additional shares during the period. Thrivent Financial for Lutherans increased its position in Envestnet shares by 1.4% in the second quarter. Thrivent Financial for Lutherans now owns 14,478 shares of the business services provider worth $764,000 after purchasing an additional 199 shares during the period. State of Michigan Retirement System increased its position in Envestnet shares by 1.4% in the second quarter. State of Michigan Retirement System now owns 14,071 shares of the business services provider worth $743,000 after purchasing an additional 200 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Envestnet shares by 0.6% in the first quarter. Envestnet Asset Management Inc. now owns 41,017 shares of the business services provider worth $3,053,000 after purchasing an additional 226 shares during the period.
Envestnet is trading up 0.4%
NYSE: ENV opened at $46.68 on Tuesday. Envestnet has a 12-month low of $41.72 and a 12-month high of $85.99. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt ratio of 0.54. The company has a 50-day moving average price of $49.73 and a two-hundred-day moving average price of $58.49. The company has a market capitalization of $2.58 billion, a P/E ratio of -84.87 and a beta of 1.20.
Envestnet (NYSE:ENV – Get Rating) last released its quarterly results on Thursday, August 4. The business services provider reported earnings per share of $0.16 for the quarter, missing analyst consensus estimates of $0.20 per ($0.04). Envestnet recorded a positive return on equity of 7.52% and a negative net margin of 2.42%. The company posted revenue of $318.90 million for the quarter, versus analyst estimates of $324.02 million. During the same period last year, the company achieved EPS of $0.35. The company’s revenue increased by 10.5% compared to the same quarter last year. As a group, analysts expect Envestnet to post EPS of 0.84 for the current fiscal year.
Envestnet Company Profile
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Envestnet, Inc, together with its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through Envestnet Wealth Solutions and Envestnet Data & Analytics segments. The Company’s products and services include Envestnet | Enterprise, which provides an end-to-end open-architecture wealth management platform, as well as data aggregation and reporting, data analytics, and digital advisory capabilities; Investnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting and client relationship management software; and Investnet | MoneyGuide which provides goal-based financial planning solutions to the financial services industry.
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