Stifel Nicolaus Reaffirms Buy Rating for Envestnet, Inc (ENV)
Stifel Nicolaus reissued their buy rating on shares of Envestnet, Inc (NYSE:ENV) in a research report released on Thursday morning, MarketBeat reports. The firm currently has a $62.00 price objective on the business services provider’s stock, up from their prior price objective of $52.00.
Several other equities analysts have also commented on ENV. Jefferies Group LLC reiterated a buy rating and issued a $48.00 target price on shares of Envestnet in a research note on Friday, July 14th. BidaskClub lowered Envestnet from a buy rating to a hold rating in a research note on Friday, August 4th. Raymond James Financial, Inc. upped their target price on Envestnet from $44.00 to $48.00 and gave the company a buy rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered Envestnet from a buy rating to a hold rating in a research note on Monday, August 14th. Finally, Royal Bank Of Canada reiterated a hold rating on shares of Envestnet in a research note on Monday, September 11th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Envestnet has an average rating of Buy and a consensus target price of $55.63.
Shares of Envestnet (NYSE ENV) traded down $1.65 during trading hours on Thursday, hitting $51.45. The stock had a trading volume of 263,000 shares, compared to its average volume of 230,158. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.61 and a quick ratio of 0.61. Envestnet has a twelve month low of $30.80 and a twelve month high of $55.15. The stock has a market capitalization of $2,279.54, a P/E ratio of 65.96, a P/E/G ratio of 3.87 and a beta of 1.97.
Envestnet (NYSE:ENV) last released its earnings results on Wednesday, November 8th. The business services provider reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The firm had revenue of $175.61 million during the quarter, compared to analyst estimates of $171.57 million. Envestnet had a positive return on equity of 8.93% and a negative net margin of 8.15%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. sell-side analysts forecast that Envestnet will post 0.89 EPS for the current year.
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In other Envestnet news, COO Joshua Mayer sold 1,500 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $43.66, for a total transaction of $65,490.00. Following the completion of the sale, the chief operating officer now directly owns 13,796 shares in the company, valued at $602,333.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anil Arora sold 16,418 shares of the company’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $50.00, for a total value of $820,900.00. Following the sale, the insider now owns 56,175 shares of the company’s stock, valued at $2,808,750. The disclosure for this sale can be found here. Insiders have sold 67,964 shares of company stock valued at $3,499,553 over the last 90 days. 7.80% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. D.A. Davidson & CO. increased its stake in Envestnet by 13.0% during the second quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock worth $130,000 after acquiring an additional 379 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Envestnet by 5.7% during the second quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock worth $150,000 after acquiring an additional 204 shares during the last quarter. Gradient Investments LLC acquired a new stake in Envestnet during the second quarter worth about $191,000. Personal Capital Advisors Corp acquired a new stake in Envestnet during the third quarter worth about $203,000. Finally, BNP Paribas Arbitrage SA increased its stake in Envestnet by 525.9% during the second quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock worth $204,000 after acquiring an additional 4,328 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.
Envestnet Company Profile
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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