Envestnet (ENV) Coverage Initiated at Rosenblatt Securities

Analysts at Rosenblatt Securities began coverage on shares of Envestnet (NYSE:ENV) in a report issued on Wednesday, The Fly reports. The firm set a “buy” rating and a $65.00 price target on the business services provider’s stock. Rosenblatt Securities’ price target points to a potential upside of 22.00% from the stock’s previous close.

Several other brokerages have also recently commented on ENV. 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 boosted their target price on shares of Envestnet from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 10th. TheStreet cut shares of Envestnet from a “b-” rating to a “c+” rating in a research report on Wednesday, October 10th. DA Davidson upgraded shares of Envestnet from a “neutral” rating to a “buy” rating in a research report on Thursday, November 8th. Finally, JMP Securities dropped their target price on shares of Envestnet from $76.00 to $67.00 and set a “market outperform” rating for the company in a research report on Tuesday, November 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Envestnet presently has a consensus rating of “Buy” and an average target price of $64.43.

Shares of NYSE:ENV opened at $53.28 on Wednesday. The company has a market capitalization of $2.43 billion, a PE ratio of 46.56, a PEG ratio of 2.53 and a beta of 1.87. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.57. Envestnet has a 12 month low of $48.38 and a 12 month high of $64.80.



Envestnet (NYSE:ENV) last issued its earnings results on Wednesday, November 7th. The business services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. The company had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $203.99 million. Envestnet had a net margin of 2.95% and a return on equity of 11.32%. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 EPS. As a group, research analysts expect that Envestnet will post 1.29 EPS for the current year.

In related news, insider Anil Arora sold 4,551 shares of Envestnet stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $62.40, for a total transaction of $283,982.40. Following the sale, the insider now directly owns 75,388 shares of the company’s stock, valued at approximately $4,704,211.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joshua Mayer sold 2,606 shares of Envestnet stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $55.00, for a total transaction of $143,330.00. Following the sale, the chief operating officer now directly owns 35,771 shares in the company, valued at $1,967,405. The disclosure for this sale can be found here. Insiders have sold a total of 19,662 shares of company stock worth $1,188,894 over the last ninety days. 7.80% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY grew its holdings in shares of Envestnet by 6.3% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 14,445 shares of the business services provider’s stock valued at $794,000 after purchasing an additional 854 shares during the last quarter. United Services Automobile Association grew its holdings in Envestnet by 13.2% during the 2nd quarter. United Services Automobile Association now owns 7,421 shares of the business services provider’s stock worth $408,000 after acquiring an additional 866 shares during the last quarter. US Bancorp DE grew its holdings in Envestnet by 11.5% during the 2nd quarter. US Bancorp DE now owns 9,593 shares of the business services provider’s stock worth $527,000 after acquiring an additional 989 shares during the last quarter. Greenwood Capital Associates LLC grew its holdings in Envestnet by 27.7% during the 2nd quarter. Greenwood Capital Associates LLC now owns 4,832 shares of the business services provider’s stock worth $266,000 after acquiring an additional 1,049 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in Envestnet by 3.3% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 34,784 shares of the business services provider’s stock worth $1,911,000 after acquiring an additional 1,110 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

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.

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