Envestnet, Inc. (NYSE:ENV) Receives $64.14 Average Target Price from Brokerages

Envestnet, Inc. (NYSE:ENV) has been given an average rating of “Moderate Buy” by the eight ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $64.14.

Several analysts have issued reports on the company. William Blair reissued an “outperform” rating on shares of Envestnet in a research note on Wednesday, March 27th. DA Davidson lifted their target price on Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Jefferies Financial Group raised Envestnet from an “underperform” rating to a “hold” rating and lifted their target price for the company from $47.00 to $59.00 in a research report on Wednesday, May 8th. Raymond James lifted their target price on Envestnet from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com raised Envestnet from a “sell” rating to a “hold” rating in a research report on Friday, May 10th.

Envestnet Stock Performance

ENV opened at $61.83 on Friday. The business’s 50-day moving average price is $63.80 and its two-hundred day moving average price is $55.73. Envestnet has a 1 year low of $33.12 and a 1 year high of $73.04. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -17.37 and a beta of 1.28. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.19 and a quick ratio of 1.19.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Tuesday, May 7th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Envestnet had a positive return on equity of 14.75% and a negative net margin of 15.33%. The firm had revenue of $324.95 million for the quarter, compared to the consensus estimate of $324.85 million. Equities analysts expect that Envestnet will post 1.78 EPS for the current fiscal year.

Insider Activity at Envestnet

In other Envestnet news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 15,212 shares in the company, valued at $865,867.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund raised its position in Envestnet by 2.1% during 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 purchasing an additional 409 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Envestnet by 2.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider’s stock worth $1,633,000 after buying an additional 543 shares in the last quarter. Natixis increased its holdings in shares of Envestnet by 12.9% during the first quarter. Natixis now owns 4,767 shares of the business services provider’s stock worth $276,000 after buying an additional 544 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Envestnet by 2.2% during the first quarter. Illinois Municipal Retirement Fund now owns 28,271 shares of the business services provider’s stock worth $1,637,000 after buying an additional 619 shares in the last quarter. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Envestnet during the first quarter worth $38,000.

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.