Brokerages Set Envestnet, Inc. (NYSE:ENV) Target Price at $63.67

Envestnet, Inc. (NYSE:ENV) has received a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $63.67.

A number of research analysts have issued reports on the company. Royal Bank of Canada boosted their price target on Envestnet from $47.00 to $56.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. JMP Securities reiterated a “market outperform” rating and issued a $79.00 target price on shares of Envestnet in a research note on Wednesday, April 17th. William Blair reissued an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. StockNews.com cut shares of Envestnet from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Raymond James increased their target price on shares of Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd.

Envestnet Stock Down 0.7 %

ENV stock opened at $62.96 on Friday. The company has a market capitalization of $3.45 billion, a P/E ratio of -14.41 and a beta of 1.26. Envestnet has a 12 month low of $33.12 and a 12 month high of $68.83. The firm’s fifty day simple moving average is $57.32 and its 200-day simple moving average is $49.38. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.90 and a quick ratio of 0.90.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.33 by $0.10. The company had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. As a group, equities research analysts forecast that Envestnet will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Lauren Taylor Wolfe bought 1,670 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the transaction, the director now directly owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Envestnet news, Director Lauren Taylor Wolfe bought 1,670 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average price of $52.99 per share, with a total value of $88,493.30. Following the completion of the acquisition, the director now directly owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the transaction, the insider now directly owns 15,212 shares in the company, valued at $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Envestnet

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Argent Capital Management LLC increased its stake in shares of Envestnet by 14.6% in the 1st quarter. Argent Capital Management LLC now owns 6,338 shares of the business services provider’s stock worth $367,000 after acquiring an additional 806 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Envestnet by 31.0% during the 1st quarter. Benjamin Edwards Inc. now owns 7,123 shares of the business services provider’s stock worth $412,000 after buying an additional 1,685 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in Envestnet in the first quarter valued at approximately $38,000. Mesirow Financial Investment Management Inc. purchased a new position in Envestnet in the first quarter worth approximately $238,000. Finally, New Mexico Educational Retirement Board acquired a new stake in Envestnet during the first quarter worth $654,000.

Envestnet Company Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.