Envestnet (ENV) Earns Buy Rating from Analysts at Buckingham Research

Buckingham Research started coverage on shares of Envestnet (NYSE:ENV) in a research report sent to investors on Thursday, MarketBeat reports. The firm issued a buy rating and a $63.00 price target on the business services provider’s stock.

Several other equities research analysts also recently weighed in on ENV. UBS Group lowered their target price on shares of Envestnet from $67.00 to $64.00 and set a buy rating for the company in a research note on Tuesday. ValuEngine downgraded shares of Envestnet from a buy rating to a hold rating in a research note on Friday, January 4th. DA Davidson lowered their target price on shares of Envestnet to $58.00 and set a buy rating for the company in a research note on Friday, January 4th. Zacks Investment Research cut shares of Envestnet from a hold rating to a sell rating in a report on Friday, January 4th. Finally, Raymond James decreased their price target on shares of Envestnet from $71.00 to $60.00 and set a strong-buy rating for the company in a report on Thursday, January 3rd. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $63.56.

ENV traded up $0.31 during trading on Thursday, hitting $52.36. The stock had a trading volume of 205,433 shares, compared to its average volume of 215,179. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 59.50, a price-to-earnings-growth ratio of 2.02 and a beta of 1.76. Envestnet has a twelve month low of $46.57 and a twelve month high of $64.80. 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 (NYSE:ENV) last announced its earnings results on Wednesday, November 7th. The business services provider reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.03. The company had revenue of $203.20 million during the quarter, compared to the consensus estimate of $203.99 million. Envestnet had a net margin of 2.95% and a return on equity of 11.32%. Envestnet’s revenue was up 15.7% compared to the same quarter last year. During the same period last year, the firm earned $0.37 earnings per share. On average, sell-side analysts expect that Envestnet will post 1.29 EPS for the current year.

In other Envestnet news, COO Joshua Mayer sold 2,606 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $55.00, for a total value of $143,330.00. Following the completion of the transaction, the chief operating officer now owns 35,771 shares of the company’s stock, valued at $1,967,405. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 5.49% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co. NY raised its holdings in shares of Envestnet by 6.3% during the second quarter. Metropolitan Life Insurance Co. NY now owns 14,445 shares of the business services provider’s stock worth $794,000 after purchasing an additional 854 shares during the last quarter. United Services Automobile Association raised its holdings in shares of Envestnet by 13.2% during the second quarter. United Services Automobile Association now owns 7,421 shares of the business services provider’s stock worth $408,000 after purchasing an additional 866 shares during the last quarter. US Bancorp DE raised its holdings in shares of Envestnet by 11.5% during the second quarter. US Bancorp DE now owns 9,593 shares of the business services provider’s stock worth $527,000 after purchasing an additional 989 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Envestnet by 10.8% during the third quarter. SG Americas Securities LLC now owns 13,512 shares of the business services provider’s stock worth $824,000 after purchasing an additional 1,315 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Envestnet by 1.1% during the third quarter. American Century Companies Inc. now owns 157,552 shares of the business services provider’s stock worth $9,603,000 after purchasing an additional 1,784 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Envestnet (NYSE:ENV)

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