Envestnet (NYSE:ENV) Trading Up 3.8%

Envestnet, Inc. (NYSE:ENV)’s stock price shot up 3.8% during mid-day trading on Tuesday . The stock traded as high as $58.88 and last traded at $58.70. 220,478 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 439,174 shares. The stock had previously closed at $56.54.

Analysts Set New Price Targets

Several research firms have issued reports on ENV. JMP Securities restated a “market outperform” rating and issued a $79.00 price objective on shares of Envestnet in a research note on Tuesday, April 9th. William Blair reaffirmed an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. DA Davidson upped 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. Raymond James upped 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 Monday, March 25th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Envestnet Stock Up 8.3 %

The firm has a market cap of $3.35 billion, a price-to-earnings ratio of -13.89 and a beta of 1.31. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a 50-day moving average of $54.21 and a 200-day moving average of $47.44.

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

Insider Buying and Selling at Envestnet

In other Envestnet news, Director Lauren Taylor Wolfe bought 1,670 shares of Envestnet stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $52.99 per share, with a total value of $88,493.30. Following the acquisition, the director now owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Matthew Majoros sold 700 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the transaction, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $52.99 per share, with a total value of $88,493.30. Following the completion of the purchase, the director now directly owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. Company insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Envestnet by 12.9% during the 4th quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock worth $297,885,000 after purchasing an additional 687,202 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Envestnet by 20,229.7% during the 4th quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock worth $90,027,000 after acquiring an additional 1,816,020 shares during the period. Van Berkom & Associates Inc. grew its holdings in Envestnet by 33.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock worth $77,603,000 after acquiring an additional 438,994 shares during the period. State Street Corp grew its holdings in Envestnet by 2.7% during the 1st quarter. State Street Corp now owns 1,713,638 shares of the business services provider’s stock worth $127,563,000 after acquiring an additional 44,600 shares during the period. Finally, Stephens Investment Management Group LLC grew its holdings in Envestnet by 14.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider’s stock worth $81,762,000 after acquiring an additional 207,632 shares during the period.

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.