Envestnet (ENV) Receives New Coverage from Analysts at Buckingham Research

Buckingham Research initiated coverage on shares of Envestnet (NYSE:ENV) in a research note issued to investors on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $63.00 target price on the business services provider’s stock.

A number of other analysts have also weighed in on the stock. UBS Group reduced their price objective on shares of Envestnet from $67.00 to $64.00 and set a buy rating on the stock in a research report on Tuesday. DA Davidson reduced their price objective on shares of Envestnet to $58.00 and set a buy rating on the stock in a research report on Friday, January 4th. Zacks Investment Research lowered shares of Envestnet from a hold rating to a sell rating in a research report on Friday, January 4th. ValuEngine lowered shares of Envestnet from a buy rating to a hold rating in a research report on Friday, January 4th. Finally, Raymond James reduced their price objective on shares of Envestnet from $71.00 to $60.00 and set a strong-buy rating on the stock in a research report on Thursday, January 3rd. 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 presently has a consensus rating of Buy and a consensus price target of $63.56.

Shares of NYSE ENV traded up $0.31 during mid-day trading on Thursday, hitting $52.36. 205,433 shares of the company’s stock traded hands, compared to its average volume of 215,179. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 59.50, a P/E/G ratio of 2.02 and a beta of 1.76. Envestnet has a 1 year low of $46.57 and a 1 year high of $64.80.

Envestnet (NYSE:ENV) last announced its earnings results on Wednesday, November 7th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $203.99 million. During the same period in the prior year, the company earned $0.37 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. On average, equities analysts predict that Envestnet will post 1.29 EPS for the current fiscal year.

In other Envestnet news, 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 value of $143,330.00. Following the transaction, the chief operating officer now directly owns 35,771 shares in the company, valued at approximately $1,967,405. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.49% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Contravisory Investment Management Inc. bought a new position in Envestnet in the 3rd quarter worth about $136,000. TRUE Private Wealth Advisors bought a new position in Envestnet in the 3rd quarter worth about $169,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Envestnet in the 2nd quarter worth about $203,000. Engineers Gate Manager LP bought a new position in Envestnet in the 3rd quarter worth about $207,000. Finally, First Republic Investment Management Inc. bought a new position in Envestnet in the 3rd quarter worth about $209,000. Institutional investors and hedge funds own 97.79% 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 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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