Envestnet (NYSE:ENV) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Envestnet (NYSE:ENV) from a sell rating to a hold rating in a report published on Monday.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of Envestnet from $44.00 to $45.00 and gave the company a neutral rating in a report on Friday, February 23rd. Royal Bank of Canada increased their price objective on shares of Envestnet from $47.00 to $56.00 and gave the stock a sector perform rating in a research note on Friday, February 23rd. DA Davidson increased their price objective on shares of Envestnet from $66.00 to $70.00 and gave the stock a buy rating in a research note on Wednesday, January 3rd. Finally, Raymond James increased their price objective on shares of Envestnet from $46.00 to $55.00 and gave the stock an outperform rating in a research note on Wednesday, January 3rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $62.83.

Envestnet Trading Up 0.4 %

NYSE:ENV opened at $57.91 on Monday. The company has a fifty day moving average of $52.76 and a 200 day moving average of $46.67. Envestnet has a 52 week low of $33.12 and a 52 week high of $66.50. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $3.17 billion, a P/E ratio of -13.25 and a beta of 1.30.

Envestnet (NYSE:ENV) last announced its quarterly earnings data 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 the consensus estimate of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. On average, research analysts predict that Envestnet will post 1.78 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the transaction, the insider now owns 15,212 shares of the company’s stock, valued at $865,867.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Lauren Taylor Wolfe acquired 1,670 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $221,968,274.29. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the transaction, the insider now owns 15,212 shares in the company, valued at approximately $865,867.04. The disclosure for this sale can be found here. 9.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ENV. Hsbc Holdings PLC increased its position in Envestnet by 20,229.7% during the fourth quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock valued at $90,027,000 after acquiring an additional 1,816,020 shares during the last quarter. Vanguard Group Inc. increased its position in Envestnet by 12.9% during the fourth quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock valued at $297,885,000 after acquiring an additional 687,202 shares during the last quarter. Norges Bank bought a new position in Envestnet during the fourth quarter valued at $25,319,000. Nuveen Asset Management LLC grew its holdings in shares of Envestnet by 206.1% in the second quarter. Nuveen Asset Management LLC now owns 740,671 shares of the business services provider’s stock worth $43,959,000 after purchasing an additional 498,671 shares during the last quarter. Finally, Schroder Investment Management Group bought a new position in shares of Envestnet in the fourth quarter worth about $21,829,000.

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.