Envestnet (ENV) Coverage Initiated at Rosenblatt Securities

Rosenblatt Securities started coverage on shares of Envestnet (NYSE:ENV) in a research report report published on Wednesday morning, The Fly reports. The firm issued a buy rating and a $65.00 target price on the business services provider’s stock.

Other analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Envestnet from a sell rating to a hold rating in a report on Monday, August 13th. TheStreet downgraded shares of Envestnet from a b- rating to a c+ rating in a report on Wednesday, October 10th. UBS Group upped their price target on shares of Envestnet from $62.00 to $68.00 and gave the company a buy rating in a report on Friday, August 10th. JMP Securities cut their price target on shares of Envestnet from $76.00 to $67.00 and set a market outperform rating on the stock in a report on Tuesday, November 13th. Finally, DA Davidson upgraded shares of Envestnet from a neutral rating to a buy rating in a report on Thursday, November 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $64.43.

Envestnet stock opened at $52.14 on Wednesday. Envestnet has a twelve month low of $48.38 and a twelve month high of $64.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $2.44 billion, a PE ratio of 59.25, a price-to-earnings-growth ratio of 2.54 and a beta of 1.87.

Envestnet (NYSE:ENV) last posted its earnings results on Wednesday, November 7th. The business services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. Envestnet had a net margin of 2.95% and a return on equity of 11.32%. The firm had revenue of $203.20 million for the quarter, compared to the consensus estimate of $203.99 million. During the same period in the previous year, the firm posted $0.37 EPS. The business’s quarterly revenue was up 15.7% on a year-over-year basis. On average, equities analysts forecast that Envestnet will post 1.29 earnings per share for the current fiscal year.

In related news, President William Crager sold 12,000 shares of the company’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $60.99, for a total transaction of $731,880.00. Following the transaction, the president now directly owns 212,252 shares in the company, valued at approximately $12,945,249.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joshua Mayer sold 2,606 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $55.00, for a total transaction of $143,330.00. Following the transaction, the chief operating officer now owns 35,771 shares in the company, valued at $1,967,405. The disclosure for this sale can be found here. Insiders have sold a total of 19,662 shares of company stock worth $1,188,894 over the last quarter. 7.80% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. bought a new position in Envestnet during the 3rd quarter valued at about $136,000. TRUE Private Wealth Advisors purchased a new stake in Envestnet in the 3rd quarter valued at about $169,000. Engineers Gate Manager LP purchased a new stake in Envestnet in the 3rd quarter valued at about $207,000. First Republic Investment Management Inc. purchased a new stake in Envestnet in the 3rd quarter valued at about $209,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Envestnet in the 2nd quarter valued at about $203,000. 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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Analyst Recommendations for Envestnet (NYSE:ENV)

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