UBS AG Cuts Envestnet, Inc (ENV) Price Target to $59.00
Envestnet, Inc (NYSE:ENV) had its target price decreased by UBS AG from $63.00 to $59.00 in a research note published on Friday, www.benzinga.com reports. UBS AG currently has a buy rating on the business services provider’s stock.
A number of other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Envestnet from a hold rating to a sell rating in a research report on Wednesday, September 6th. Jefferies Group LLC raised their price objective on shares of Envestnet from $47.00 to $65.00 and gave the company a buy rating in a research report on Tuesday, October 17th. Royal Bank Of Canada restated a hold rating and issued a $48.00 price objective on shares of Envestnet in a research report on Thursday, October 5th. BidaskClub downgraded shares of Envestnet from a buy rating to a hold rating in a research report on Friday, August 4th. Finally, William Blair restated an ourperform rating on shares of Envestnet in a research report on Tuesday, September 26th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $55.13.
Shares of Envestnet (ENV) opened at $49.55 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $2,195.35, a PE ratio of 63.53, a P/E/G ratio of 3.68 and a beta of 1.97. Envestnet has a 12-month low of $30.80 and a 12-month high of $55.15.
Envestnet (NYSE:ENV) last announced its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02. The firm had revenue of $175.61 million during the quarter, compared to the consensus estimate of $171.57 million. Envestnet had a negative net margin of 8.15% and a positive return on equity of 8.92%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. equities analysts forecast that Envestnet will post 0.9 EPS for the current year.
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In other Envestnet news, CEO Judson Bergman sold 20,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $51.48, for a total value of $1,029,600.00. Following the completion of the transaction, the chief executive officer now directly owns 738,569 shares of the company’s stock, valued at $38,021,532.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gayle A. Crowell sold 746 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $44.45, for a total transaction of $33,159.70. Following the completion of the transaction, the director now directly owns 801 shares of the company’s stock, valued at $35,604.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,464 shares of company stock valued at $6,214,283. 5.58% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC increased its holdings in Envestnet by 559.6% in the second quarter. Janus Henderson Group PLC now owns 4,017,706 shares of the business services provider’s stock valued at $159,101,000 after buying an additional 3,408,580 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Envestnet by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,454,623 shares of the business services provider’s stock worth $136,803,000 after purchasing an additional 188,892 shares in the last quarter. BlackRock Inc. increased its stake in shares of Envestnet by 3.1% during the 2nd quarter. BlackRock Inc. now owns 2,662,809 shares of the business services provider’s stock worth $105,446,000 after purchasing an additional 81,056 shares in the last quarter. Wasatch Advisors Inc. increased its stake in shares of Envestnet by 3.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,985,952 shares of the business services provider’s stock worth $78,644,000 after purchasing an additional 57,555 shares in the last quarter. Finally, Van Berkom & Associates Inc. increased its stake in shares of Envestnet by 8.8% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,653,145 shares of the business services provider’s stock worth $65,465,000 after purchasing an additional 133,303 shares in the last quarter. 93.28% of the stock is owned by institutional investors.
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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