Brokerages Set Envestnet, Inc. (NYSE:ENV) PT at $64.14

Shares of Envestnet, Inc. (NYSE:ENV) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $64.14.

Several analysts recently issued reports on ENV shares. Royal Bank of Canada raised their price target on Envestnet from $56.00 to $64.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. JMP Securities reissued a “market outperform” rating and issued a $79.00 price target on shares of Envestnet in a report on Wednesday, April 17th. StockNews.com raised Envestnet from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Jefferies Financial Group raised Envestnet from an “underperform” rating to a “hold” rating and raised their price target for the stock from $47.00 to $59.00 in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lifted their target price on Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd.

Insider Activity

In other news, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction 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 transaction, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Envestnet

A number of hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund grew its holdings in shares of Envestnet by 2.1% in the 3rd quarter. New York State Common Retirement Fund now owns 20,063 shares of the business services provider’s stock worth $883,000 after acquiring an additional 409 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Envestnet by 2.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider’s stock worth $1,633,000 after acquiring an additional 543 shares during the last quarter. Natixis grew its holdings in shares of Envestnet by 12.9% in the 1st quarter. Natixis now owns 4,767 shares of the business services provider’s stock worth $276,000 after acquiring an additional 544 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Envestnet by 2.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 28,271 shares of the business services provider’s stock worth $1,637,000 after acquiring an additional 619 shares during the last quarter. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Envestnet in the 1st quarter worth $38,000.

Envestnet Trading Up 0.0 %

NYSE:ENV opened at $61.83 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.47. The business’s 50 day moving average is $63.80 and its two-hundred day moving average is $55.73. Envestnet has a 52 week low of $33.12 and a 52 week high of $73.04. The company has a market cap of $3.41 billion, a PE ratio of -17.37 and a beta of 1.28.

Envestnet (NYSE:ENV) last announced its quarterly earnings results on Tuesday, May 7th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $324.95 million for the quarter, compared to the consensus estimate of $324.85 million. Envestnet had a positive return on equity of 14.75% and a negative net margin of 15.33%. On average, analysts predict that Envestnet will post 1.78 EPS for the current year.

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.