Shares of Envestnet Inc (NYSE:ENV) have received a consensus recommendation of “Hold” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $74.50.
ENV has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price objective on Envestnet from $75.00 to $69.00 and set a “neutral” rating for the company in a report on Wednesday, April 29th. Jefferies Financial Group boosted their price objective on Envestnet from $72.00 to $76.00 in a report on Tuesday, May 12th. DA Davidson dropped their price objective on Envestnet from $76.00 to $68.00 in a report on Friday, March 13th. Stifel Nicolaus dropped their price objective on Envestnet from $80.00 to $72.00 and set a “buy” rating for the company in a report on Monday, May 4th. Finally, Raymond James dropped their price objective on Envestnet from $86.00 to $80.00 and set a “strong-buy” rating for the company in a report on Friday, May 8th.
In related news, COO Joshua Mayer sold 2,017 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $74.04, for a total value of $149,338.68. Following the completion of the transaction, the chief operating officer now directly owns 19,991 shares in the company, valued at approximately $1,480,133.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CIO Brandon Thomas sold 3,367 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $75.68, for a total value of $254,814.56. Following the completion of the transaction, the executive now owns 272,532 shares of the company’s stock, valued at $20,625,221.76. The disclosure for this sale can be found here. Insiders have sold a total of 47,653 shares of company stock valued at $3,284,644 over the last 90 days. Corporate insiders own 2.44% of the company’s stock.
Shares of Envestnet stock traded up $2.09 during trading on Friday, reaching $72.55. The company’s stock had a trading volume of 6,351 shares, compared to its average volume of 450,418. The stock has a 50-day moving average price of $71.59 and a two-hundred day moving average price of $68.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.79. Envestnet has a one year low of $45.53 and a one year high of $87.75. The stock has a market capitalization of $3.72 billion, a P/E ratio of -641.32 and a beta of 1.77.
Envestnet (NYSE:ENV) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.12. The firm had revenue of $246.50 million during the quarter, compared to analysts’ expectations of $242.32 million. Envestnet had a positive return on equity of 8.94% and a negative net margin of 0.66%. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. As a group, sell-side analysts anticipate that Envestnet will post 1.25 EPS 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 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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