Envestnet (NYSE:ENV) Given Market Outperform Rating at JMP Securities

Envestnet (NYSE:ENV)‘s stock had its “market outperform” rating reissued by investment analysts at JMP Securities in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $79.00 target price on the business services provider’s stock. JMP Securities’ target price indicates a potential upside of 27.91% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. William Blair reiterated an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. JPMorgan Chase & Co. upped their price objective on shares of Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. DA Davidson upped their price objective on shares of 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 price objective on shares of 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 upgraded shares of 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Envestnet Trading Down 0.1 %

NYSE:ENV traded down $0.04 during trading hours on Wednesday, hitting $61.76. 1,241,046 shares of the stock were exchanged, compared to its average volume of 488,980. The company’s 50 day moving average is $54.40 and its two-hundred day moving average is $47.57. Envestnet has a twelve month low of $33.12 and a twelve month high of $68.83. 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 company has a market capitalization of $3.38 billion, a P/E ratio of -14.25 and a beta of 1.31.

Envestnet (NYSE:ENV) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. On average, sell-side analysts anticipate that Envestnet will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Matthew Majoros sold 700 shares of Envestnet 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 completion of the transaction, the insider now owns 15,212 shares in the company, valued at $865,867.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lauren Taylor Wolfe acquired 1,670 shares of the business’s stock in a transaction on Friday, March 15th. The stock was purchased at an average cost 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Matthew Majoros sold 700 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the sale, the insider now owns 15,212 shares of the company’s stock, valued at $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Envestnet

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted 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 worth $297,885,000 after acquiring an additional 687,202 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Envestnet by 20,229.7% in 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 buying an additional 1,816,020 shares in the last quarter. Van Berkom & Associates Inc. raised its position in shares of Envestnet by 33.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock valued at $77,603,000 after buying an additional 438,994 shares in the last quarter. State Street Corp raised its position in shares of Envestnet by 2.7% in the first quarter. State Street Corp now owns 1,713,638 shares of the business services provider’s stock valued at $127,563,000 after buying an additional 44,600 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised its position in shares of Envestnet by 14.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider’s stock valued at $81,762,000 after buying an additional 207,632 shares in the last quarter.

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.