Envestnet (NYSE:ENV) Rating Lowered to Sell at StockNews.com

Envestnet (NYSE:ENV) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Other analysts also recently issued research reports about the company. JMP Securities reiterated a “market outperform” rating and set a $79.00 price target on shares of Envestnet in a research note on Wednesday, April 17th. Raymond James increased their target price on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. DA Davidson upped their price target on Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. William Blair restated an “outperform” rating on shares of Envestnet in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Envestnet currently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Envestnet Stock Down 0.7 %

Envestnet stock opened at $62.96 on Thursday. Envestnet has a 12 month low of $33.12 and a 12 month high of $68.83. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. The company’s fifty day simple moving average is $57.32 and its 200-day simple moving average is $49.38.

Envestnet (NYSE:ENV) last issued its earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. The firm had revenue of $317.63 million for the quarter, compared to the consensus estimate of $312.24 million. On average, sell-side analysts predict that Envestnet will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Envestnet

In other news, Director Lauren Taylor Wolfe purchased 1,670 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average cost of $52.99 per share, with a total value of $88,493.30. Following the acquisition, the director now directly owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Envestnet news, Director Lauren Taylor Wolfe bought 1,670 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were bought at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the acquisition, the director now owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew Majoros sold 700 shares of the company’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 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. Company insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund lifted its stake in Envestnet by 2.1% in the third quarter. New York State Common Retirement Fund now owns 20,063 shares of the business services provider’s stock valued at $883,000 after buying an additional 409 shares during the period. YHB Investment Advisors Inc. acquired a new position in shares of Envestnet in the first quarter valued at approximately $38,000. PNC Financial Services Group Inc. boosted its holdings in shares of Envestnet by 19.4% in the third quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock valued at $217,000 after buying an additional 802 shares during the period. Argent Capital Management LLC raised its holdings in shares of Envestnet by 14.6% during the first 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 period. Finally, Headlands Technologies LLC bought a new stake in Envestnet in the 3rd quarter valued at $45,000.

About Envestnet

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.