Envestnet (NYSE:ENV) Price Target Raised to $60.00 at Raymond James

Envestnet (NYSE:ENVGet Free Report) had its target price increased by investment analysts at Raymond James from $52.00 to $60.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Raymond James’ target price would indicate a potential upside of 5.43% from the company’s previous close.

ENV has been the subject of several other research reports. JPMorgan Chase & Co. lifted their target price on shares of Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. StockNews.com upgraded Envestnet from a “sell” rating to a “hold” rating in a report on Monday, March 25th. DA Davidson boosted their price target on shares of Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank of Canada lifted their price objective on shares of Envestnet from $47.00 to $56.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. Finally, William Blair restated an “outperform” rating on shares of Envestnet in a research note on Wednesday, March 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $63.17.

Check Out Our Latest Stock Analysis on Envestnet

Envestnet Price Performance

NYSE ENV traded down $0.38 during trading hours on Tuesday, hitting $56.91. 139,730 shares of the company’s stock traded hands, compared to its average volume of 424,083. Envestnet has a 52-week low of $33.12 and a 52-week high of $66.50. The company has a market capitalization of $3.12 billion, a PE ratio of -13.04 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 firm’s 50-day moving average is $53.03 and its 200-day moving average is $46.71.

Envestnet (NYSE:ENVGet Free Report) last posted 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. The company 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%. Equities analysts forecast that Envestnet will post 1.78 EPS for the current fiscal year.

Insider Transactions at Envestnet

In other Envestnet news, insider Matthew Majoros sold 700 shares of the firm’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 of the company’s stock, valued at $865,867.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Matthew Majoros sold 700 shares of the stock in a transaction 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 sale, the insider now owns 15,212 shares in the company, valued at approximately $865,867.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lauren Taylor Wolfe bought 1,670 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $52.99 per share, with a total value of $88,493.30. Following the purchase, the director now directly owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. Insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Envestnet

Several hedge funds have recently modified their holdings of ENV. Nomura Holdings Inc. acquired a new stake in Envestnet in the fourth quarter valued at about $432,000. Quadrature Capital Ltd acquired a new stake in shares of Envestnet in the 4th quarter valued at approximately $236,000. Vanguard Group Inc. grew its holdings 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 period. Legal & General Group Plc boosted its holdings in Envestnet by 93.5% during the fourth quarter. Legal & General Group Plc now owns 132,133 shares of the business services provider’s stock worth $6,543,000 after buying an additional 63,856 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Envestnet during the 4th quarter worth approximately $526,000.

Envestnet Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Envestnet (NYSE:ENV)

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