Envestnet (NYSE:ENV) Price Target Increased to $67.00 by Analysts at DA Davidson

Envestnet (NYSE:ENVFree Report) had its price target raised by DA Davidson from $62.00 to $67.00 in a report published on Tuesday, Benzinga reports. DA Davidson currently has a buy rating on the business services provider’s stock.

A number of other research analysts have also recently weighed in on ENV. StockNews.com raised shares of Envestnet from a sell rating to a hold rating in a research report on Monday, March 25th. Raymond James lifted their target price on shares of Envestnet from $46.00 to $55.00 and gave the company an outperform rating in a report on Wednesday, January 3rd. William Blair reiterated an outperform rating on shares of Envestnet in a report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price objective on Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Friday, February 23rd. Finally, Royal Bank of Canada increased their target price on Envestnet from $47.00 to $56.00 and gave the company a sector perform rating in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Envestnet currently has a consensus rating of Moderate Buy and a consensus target price of $63.17.

Read Our Latest Research Report on ENV

Envestnet Trading Down 0.3 %

ENV stock opened at $57.12 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -13.07 and a beta of 1.31. The business has a fifty day simple moving average of $53.14 and a 200-day simple moving average of $46.76. Envestnet has a 52 week low of $33.12 and a 52 week high of $66.50.

Envestnet (NYSE:ENVGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.33 by $0.10. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. The company had revenue of $317.63 million during the quarter, compared to analyst estimates of $312.24 million. On average, equities research analysts expect that Envestnet will post 1.78 EPS for the current year.

Insider Buying and Selling

In other news, insider Matthew Majoros sold 700 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Lauren Taylor Wolfe purchased 1,670 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the purchase, the director now owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the sale, the insider now directly owns 15,212 shares of the company’s stock, valued at $865,867.04. The disclosure for this sale can be found here. Insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. McIlrath & Eck LLC increased its holdings in shares of Envestnet by 140.8% in the 4th quarter. McIlrath & Eck LLC now owns 802 shares of the business services provider’s stock valued at $49,000 after acquiring an additional 469 shares during the last quarter. Pinebridge Investments L.P. acquired a new stake in shares of Envestnet during the second quarter worth $56,000. State of Tennessee Treasury Department bought a new position in shares of Envestnet in the 2nd quarter worth about $59,000. Headlands Technologies LLC acquired a new position in shares of Envestnet in the 3rd quarter valued at about $45,000. Finally, Quest Partners LLC bought a new stake in shares of Envestnet during the 4th quarter valued at about $58,000.

Envestnet Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Envestnet (NYSE:ENV)

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