JPMorgan Chase & Co. started coverage on shares of Envestnet (NYSE:ENV) in a report issued on Thursday, Marketbeat.com reports. The brokerage issued an overweight rating and a $70.00 target price on the business services provider’s stock.

Several other equities research analysts also recently issued reports on the stock. DA Davidson boosted their price objective on shares of Envestnet to $56.00 and gave the stock an average rating in a research note on Thursday, July 5th. ValuEngine upgraded shares of Envestnet from a hold rating to a buy rating in a research note on Monday, April 2nd. Sandler O’Neill reiterated a hold rating and set a $56.00 price objective on shares of Envestnet in a research note on Tuesday, April 10th. Finally, Zacks Investment Research upgraded shares of Envestnet from a sell rating to a hold rating in a research note on Monday, June 11th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $58.00.

Shares of Envestnet opened at $57.75 on Thursday, Marketbeat.com reports. Envestnet has a one year low of $37.95 and a one year high of $60.28. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.92. The company has a market cap of $2.61 billion, a P/E ratio of 65.63, a P/E/G ratio of 3.29 and a beta of 1.74.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Wednesday, May 9th. The business services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Envestnet had a net margin of 2.48% and a return on equity of 10.66%. The firm had revenue of $198.00 million during the quarter, compared to analyst estimates of $194.00 million. During the same quarter in the prior year, the business posted $0.25 earnings per share. Envestnet’s revenue for the quarter was up 25.5% compared to the same quarter last year. research analysts anticipate that Envestnet will post 1.23 EPS for the current year.

In other news, insider Shelly O’brien sold 4,000 shares of the company’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $55.80, for a total value of $223,200.00. Following the completion of the transaction, the insider now directly owns 42,945 shares in the company, valued at $2,396,331. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gayle A. Crowell sold 2,934 shares of the company’s stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $54.35, for a total transaction of $159,462.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,167 shares of company stock valued at $832,657. 7.80% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in ENV. California Public Employees Retirement System boosted its stake in shares of Envestnet by 6.5% in the fourth quarter. California Public Employees Retirement System now owns 39,567 shares of the business services provider’s stock valued at $1,972,000 after purchasing an additional 2,411 shares during the period. First Trust Advisors LP boosted its stake in shares of Envestnet by 13.2% in the fourth quarter. First Trust Advisors LP now owns 59,889 shares of the business services provider’s stock valued at $2,985,000 after purchasing an additional 6,993 shares during the period. BlackRock Inc. boosted its stake in shares of Envestnet by 1.0% in the fourth quarter. BlackRock Inc. now owns 2,699,362 shares of the business services provider’s stock valued at $134,564,000 after purchasing an additional 27,689 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Envestnet by 12.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 28,311 shares of the business services provider’s stock valued at $1,411,000 after purchasing an additional 3,092 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Envestnet by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 361,712 shares of the business services provider’s stock valued at $18,031,000 after purchasing an additional 3,979 shares during the period. Institutional investors and hedge funds own 91.23% of the company’s stock.

About Envestnet

Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services 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, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

Analyst Recommendations for Envestnet (NYSE:ENV)

Receive News & Ratings for Envestnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envestnet and related companies with MarketBeat.com's FREE daily email newsletter.