Envestnet (ENV) Sees Strong Trading Volume

Envestnet Inc (NYSE:ENV) saw unusually-strong trading volume on Tuesday . Approximately 917,945 shares were traded during trading, an increase of 233% from the previous session’s volume of 275,921 shares.The stock last traded at $71.08 and had previously closed at $70.08.

Several equities research analysts have commented on ENV shares. Buckingham Research started coverage on Envestnet in a research note on Thursday, January 10th. They set a “buy” rating and a $63.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Envestnet from $64.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Raymond James lowered their target price on Envestnet from $71.00 to $60.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 3rd. DA Davidson lowered their target price on Envestnet to $58.00 and set a “buy” rating on the stock in a report on Friday, January 4th. Finally, Zacks Investment Research upgraded Envestnet from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $69.67.

The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 56.66, a P/E/G ratio of 2.99 and a beta of 1.90. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.47.

Envestnet (NYSE:ENV) last issued its earnings results on Thursday, February 21st. The business services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.18. The business had revenue of $210.08 million for the quarter, compared to analysts’ expectations of $210.52 million. Envestnet had a return on equity of 11.51% and a net margin of 0.71%. Research analysts forecast that Envestnet Inc will post 1.47 EPS for the current year.

In related news, COO Joshua Mayer sold 1,162 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $61.15, for a total value of $71,056.30. Following the transaction, the chief operating officer now directly owns 36,222 shares in the company, valued at $2,214,975.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anil Arora sold 5,117 shares of the company’s stock in a transaction that occurred on Friday, January 25th. The shares were sold at an average price of $53.92, for a total value of $275,908.64. Following the completion of the transaction, the insider now owns 65,312 shares in the company, valued at $3,521,623.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,505 shares of company stock worth $4,645,164. Insiders own 5.49% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans lifted its holdings in Envestnet by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 63,323 shares of the business services provider’s stock valued at $3,115,000 after acquiring an additional 233 shares during the last quarter. Bank of Montreal Can lifted its holdings in Envestnet by 23.5% in the fourth quarter. Bank of Montreal Can now owns 1,410 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 268 shares during the last quarter. Strs Ohio lifted its holdings in Envestnet by 15.8% in the fourth quarter. Strs Ohio now owns 2,200 shares of the business services provider’s stock valued at $108,000 after acquiring an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Envestnet by 11.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,104 shares of the business services provider’s stock valued at $153,000 after acquiring an additional 320 shares during the last quarter. Finally, Huntington National Bank lifted its stake in Envestnet by 27.3% during the first quarter. Huntington National Bank now owns 1,543 shares of the business services provider’s stock worth $101,000 after purchasing an additional 331 shares in the last quarter. Hedge funds and other institutional investors own 92.78% of the company’s stock.

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Envestnet Company Profile (NYSE:ENV)

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 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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