Shares of Envestnet Inc (NYSE:ENV) have received an average recommendation of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $64.33.

A number of brokerages have weighed in on ENV. DA Davidson upgraded shares of Envestnet from a “neutral” rating to a “buy” rating in a research report on Thursday. TheStreet lowered shares of Envestnet from a “b-” rating to a “c+” rating in a research report on Wednesday, October 10th. Zacks Investment Research upgraded shares of Envestnet from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Thursday, October 4th. UBS Group increased their target price on shares of Envestnet from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Envestnet in a research report on Wednesday, July 18th.

In other news, insider Anil Arora sold 4,551 shares of the firm’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $62.40, for a total value of $283,982.40. Following the completion of the transaction, the insider now directly owns 75,388 shares in the company, valued at $4,704,211.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President William Crager sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $60.99, for a total transaction of $731,880.00. Following the completion of the transaction, the president now owns 212,252 shares of the company’s stock, valued at $12,945,249.48. The disclosure for this sale can be found here. Insiders sold 55,678 shares of company stock valued at $3,360,422 over the last 90 days. 7.80% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in shares of Envestnet by 5.8% in the second quarter. Wells Fargo & Company MN now owns 3,651,578 shares of the business services provider’s stock valued at $200,655,000 after acquiring an additional 198,782 shares during the period. BlackRock Inc. boosted its position in shares of Envestnet by 1.6% in the third quarter. BlackRock Inc. now owns 3,200,120 shares of the business services provider’s stock valued at $195,048,000 after acquiring an additional 49,908 shares during the period. Wasatch Advisors Inc. boosted its position in shares of Envestnet by 0.6% in the third quarter. Wasatch Advisors Inc. now owns 2,503,335 shares of the business services provider’s stock valued at $152,578,000 after acquiring an additional 13,957 shares during the period. Van Berkom & Associates Inc. boosted its position in shares of Envestnet by 0.7% in the second quarter. Van Berkom & Associates Inc. now owns 1,297,378 shares of the business services provider’s stock valued at $71,291,000 after acquiring an additional 9,308 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of Envestnet by 26.8% in the second quarter. Voya Investment Management LLC now owns 780,575 shares of the business services provider’s stock valued at $42,894,000 after acquiring an additional 164,976 shares during the period. Institutional investors own 96.71% of the company’s stock.

NYSE:ENV traded down $3.28 on Monday, reaching $54.40. 708,958 shares of the company’s stock were exchanged, compared to its average volume of 309,999. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $2.40 billion, a PE ratio of 61.82, a P/E/G ratio of 2.97 and a beta of 1.89. Envestnet has a 52 week low of $47.45 and a 52 week high of $64.80.

Envestnet (NYSE:ENV) last issued its earnings results on Wednesday, November 7th. The business services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The firm had revenue of $203.20 million during the quarter, compared to analyst estimates of $203.99 million. Envestnet had a net margin of 2.95% and a return on equity of 11.61%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. Analysts anticipate that Envestnet will post 1.25 earnings per share for the current fiscal year.

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 business 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.

Featured Article: What factors cause inflation to rise?

Receive News & Ratings for Envestnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envestnet and related companies with MarketBeat.com's FREE daily email newsletter.