Envestnet (NYSE:ENV) Given New $68.00 Price Target at Buckingham Research

Envestnet (NYSE:ENV) had its price objective lowered by Buckingham Research from $71.00 to $68.00 in a research report released on Friday morning, Stock Target Advisor reports. The firm currently has a neutral rating on the business services provider’s stock.

ENV has been the topic of a number of other research reports. DA Davidson upgraded Envestnet from a neutral rating to a buy rating and set a $67.00 price objective on the stock in a report on Tuesday, October 1st. Raymond James increased their price objective on Envestnet from $82.00 to $83.00 and gave the company a strong-buy rating in a report on Thursday, July 11th. ValuEngine downgraded Envestnet from a buy rating to a hold rating in a report on Thursday, August 8th. Finally, Zacks Investment Research downgraded Envestnet from a hold rating to a sell rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $74.00.

Shares of ENV traded up $1.24 during mid-day trading on Friday, reaching $64.44. The company’s stock had a trading volume of 762,836 shares, compared to its average volume of 327,360. Envestnet has a 12-month low of $46.57 and a 12-month high of $73.94. The stock has a market cap of $3.28 billion, a PE ratio of 51.55, a price-to-earnings-growth ratio of 2.80 and a beta of 1.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.54 and a quick ratio of 0.54. The company’s 50 day moving average is $59.77 and its 200 day moving average is $64.58.

Envestnet (NYSE:ENV) last released its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Envestnet had a positive return on equity of 9.15% and a negative net margin of 1.72%. The business had revenue of $236.08 million for the quarter, compared to the consensus estimate of $233.02 million. During the same quarter in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Envestnet will post 1.28 EPS for the current fiscal year.

In other Envestnet news, CFO Peter D’arrigo sold 5,000 shares of Envestnet stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $62.81, for a total value of $314,050.00. Following the transaction, the chief financial officer now directly owns 57,747 shares in the company, valued at approximately $3,627,089.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Crager sold 9,094 shares of Envestnet stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $59.45, for a total value of $540,638.30. Following the completion of the transaction, the chief executive officer now owns 232,788 shares in the company, valued at $13,839,246.60. The disclosure for this sale can be found here. Insiders have sold a total of 117,375 shares of company stock worth $6,795,807 in the last 90 days. 4.97% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Envestnet by 9.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,491,058 shares of the business services provider’s stock valued at $307,053,000 after purchasing an additional 384,026 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Envestnet by 148.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,541,300 shares of the business services provider’s stock valued at $87,392,000 after purchasing an additional 920,535 shares during the last quarter. DF Dent & Co. Inc. grew its stake in shares of Envestnet by 0.4% in the 2nd quarter. DF Dent & Co. Inc. now owns 1,187,275 shares of the business services provider’s stock valued at $81,174,000 after purchasing an additional 4,579 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in shares of Envestnet by 2.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 938,910 shares of the business services provider’s stock valued at $53,236,000 after purchasing an additional 23,533 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Envestnet by 1.4% in the 2nd quarter. Northern Trust Corp now owns 684,203 shares of the business services provider’s stock valued at $46,779,000 after purchasing an additional 9,688 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

About Envestnet

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 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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