Envestnet (NYSE:ENV) had its target price cut by equities research analysts at Raymond James from $71.00 to $60.00 in a report released on Thursday, January 3rd. The firm presently has a “strong-buy” rating on the business services provider’s stock. Raymond James’ price objective would suggest a potential upside of 14.59% from the company’s current price.
Several other equities analysts have also recently issued reports on ENV. Zacks Investment Research upgraded Envestnet from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Thursday, October 4th. TheStreet lowered Envestnet from a “b-” rating to a “c+” rating in a research note on Wednesday, October 10th. DA Davidson raised Envestnet from a “neutral” rating to a “buy” rating in a research note on Thursday, November 8th. JMP Securities reduced their price objective on Envestnet from $76.00 to $67.00 and set a “market outperform” rating for the company in a research note on Tuesday, November 13th. Finally, Rosenblatt Securities assumed coverage on Envestnet in a research report on Wednesday, December 5th. They issued a “buy” rating and a $65.00 target price for the company. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Envestnet currently has a consensus rating of “Buy” and an average price target of $63.56.
Shares of NYSE ENV opened at $52.36 on Thursday. Envestnet has a 1-year low of $46.57 and a 1-year high of $64.80. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $2.35 billion, a PE ratio of 59.50, a P/E/G ratio of 2.02 and a beta of 1.76.
Envestnet (NYSE:ENV) last issued its quarterly earnings results on Wednesday, November 7th. The business services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. Envestnet had a return on equity of 11.32% and a net margin of 2.95%. The firm had revenue of $203.20 million during the quarter, compared to the consensus estimate of $203.99 million. During the same quarter in the prior year, the business posted $0.37 earnings per share. Envestnet’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, research analysts anticipate that Envestnet will post 1.29 EPS for the current fiscal year.
In other news, COO Joshua Mayer sold 2,606 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $55.00, for a total value of $143,330.00. Following the transaction, the chief operating officer now directly owns 35,771 shares of the company’s stock, valued at approximately $1,967,405. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.49% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of ENV. Rhumbline Advisers raised its position in Envestnet by 5.1% in the 2nd quarter. Rhumbline Advisers now owns 43,685 shares of the business services provider’s stock worth $2,400,000 after purchasing an additional 2,107 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Envestnet by 96.4% during the 2nd quarter. SG Americas Securities LLC now owns 12,197 shares of the business services provider’s stock valued at $670,000 after acquiring an additional 5,988 shares during the last quarter. US Bancorp DE raised its position in shares of Envestnet by 11.5% during the 2nd quarter. US Bancorp DE now owns 9,593 shares of the business services provider’s stock valued at $527,000 after acquiring an additional 989 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Envestnet during the 2nd quarter valued at $652,000. Finally, BlackRock Inc. raised its position in shares of Envestnet by 16.7% during the 2nd quarter. BlackRock Inc. now owns 3,150,212 shares of the business services provider’s stock valued at $173,104,000 after acquiring an additional 451,887 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.
Envestnet Company Profile
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 business 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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