Envestnet (NYSE:ENV) Price Target Raised to $74.00 at DA Davidson

Envestnet (NYSE:ENV) had its price target increased by DA Davidson from $67.00 to $74.00 in a research note released on Friday, Stock Target Advisor reports. They currently have a buy rating on the business services provider’s stock.

ENV has been the topic of a number of other research reports. Buckingham Research dropped their price target on shares of Envestnet from $71.00 to $68.00 and set a neutral rating on the stock in a research note on Friday. Raymond James upped their target price on shares of Envestnet from $82.00 to $83.00 and gave the company a strong-buy rating in a research note on Thursday, July 11th. Zacks Investment Research cut shares of Envestnet from a hold rating to a sell rating in a research note on Tuesday, August 13th. Finally, ValuEngine cut shares of Envestnet from a buy rating to a hold rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $74.00.

Envestnet stock traded up $1.24 during mid-day trading on Friday, reaching $64.44. The stock had a trading volume of 762,836 shares, compared to its average volume of 327,360. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 51.55, a PEG ratio of 2.80 and a beta of 1.76. The company has a 50-day moving average price of $59.77 and a two-hundred day moving average price of $64.58. Envestnet has a one year low of $46.57 and a one year high of $73.94. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.54 and a quick ratio of 0.54.

Envestnet (NYSE:ENV) last announced its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The company had revenue of $236.08 million for the quarter, compared to analysts’ expectations of $233.02 million. Envestnet had a negative net margin of 1.72% and a positive return on equity of 9.15%. Envestnet’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. On average, equities research analysts anticipate that Envestnet will post 1.28 earnings per share for the current fiscal year.

In other news, insider William Crager sold 18,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $58.13, for a total value of $1,075,405.00. Following the transaction, the insider now owns 243,512 shares in the company, valued at approximately $14,155,352.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Peter D’arrigo sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $62.81, for a total transaction of $314,050.00. Following the completion of the transaction, the chief financial officer now owns 57,747 shares in the company, valued at approximately $3,627,089.07. The disclosure for this sale can be found here. Insiders have sold a total of 117,375 shares of company stock worth $6,795,807 in the last 90 days. Company insiders own 4.97% of the company’s stock.

Several large investors have recently modified their holdings of the company. First Allied Advisory Services Inc. bought a new position in shares of Envestnet in the 3rd quarter worth approximately $248,000. TimesSquare Capital Management LLC lifted its stake in shares of Envestnet by 148.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,541,300 shares of the business services provider’s stock worth $87,392,000 after purchasing an additional 920,535 shares during the period. BBVA USA Bancshares Inc. bought a new position in shares of Envestnet in the 3rd quarter worth approximately $579,000. Boston Advisors LLC lifted its stake in shares of Envestnet by 48.4% in the 3rd quarter. Boston Advisors LLC now owns 30,790 shares of the business services provider’s stock worth $1,746,000 after purchasing an additional 10,047 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in shares of Envestnet in the 3rd quarter worth approximately $102,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Envestnet Company Profile

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

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Analyst Recommendations for Envestnet (NYSE:ENV)

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