Envestnet’s (NYSE:ENV) Buy Rating Reiterated at Stifel Nicolaus
Envestnet, Inc (NYSE:ENV)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a note issued to investors on Thursday. They currently have a $52.00 price objective on the business services provider’s stock, up from their prior price objective of $45.00. Stifel Nicolaus’ target price points to a potential upside of 16.59% from the stock’s current price.
Several other analysts have also weighed in on the company. Zacks Investment Research lowered Envestnet from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 25th. DA Davidson initiated coverage on Envestnet in a report on Thursday, July 6th. They set a “neutral” rating and a $42.00 price objective on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $40.00 price objective on shares of Envestnet in a report on Thursday, May 11th. BidaskClub raised Envestnet from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $48.00 price objective on shares of Envestnet in a report on Friday, July 14th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Envestnet currently has an average rating of “Buy” and a consensus price target of $45.50.
Envestnet (NYSE ENV) opened at 44.60 on Thursday. The stock’s 50 day moving average price is $39.05 and its 200 day moving average price is $36.68. Envestnet has a 1-year low of $30.80 and a 1-year high of $44.85. The stock’s market capitalization is $1.95 billion.
Envestnet (NYSE:ENV) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Envestnet had a positive return on equity of 7.72% and a negative net margin of 8.93%. The firm had revenue of $167.50 million for the quarter, compared to analyst estimates of $164.04 million. During the same period in the previous year, the business posted $0.21 EPS. Envestnet’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities research analysts forecast that Envestnet will post $1.26 earnings per share for the current year.
In other Envestnet news, insider Anil Arora sold 8,980 shares of Envestnet stock in a transaction on Monday, July 24th. The stock was sold at an average price of $40.00, for a total value of $359,200.00. Following the completion of the transaction, the insider now owns 68,609 shares in the company, valued at approximately $2,744,360. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles Roame acquired 1,473 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was acquired at an average price of $35.38 per share, with a total value of $52,114.74. Following the transaction, the director now owns 1,729 shares in the company, valued at approximately $61,172.02. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 3,968 shares of company stock worth $145,287 and sold 32,972 shares worth $1,300,284. 7.80% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Envestnet during the first quarter valued at about $376,000. Parametric Portfolio Associates LLC increased its position in shares of Envestnet by 116.6% in the first quarter. Parametric Portfolio Associates LLC now owns 77,580 shares of the business services provider’s stock valued at $2,506,000 after buying an additional 41,761 shares during the last quarter. Airain ltd acquired a new position in shares of Envestnet during the first quarter valued at about $266,000. Van Berkom & Associates Inc. increased its position in shares of Envestnet by 8.8% in the second quarter. Van Berkom & Associates Inc. now owns 1,653,145 shares of the business services provider’s stock valued at $65,465,000 after buying an additional 133,303 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Envestnet by 217.5% in the first quarter. PNC Financial Services Group Inc. now owns 121,468 shares of the business services provider’s stock valued at $3,925,000 after buying an additional 83,212 shares during the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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