JMP Securities Reaffirms Market Outperform Rating for Envestnet (NYSE:ENV)

JMP Securities restated their market outperform rating on shares of Envestnet (NYSE:ENV) in a report issued on Wednesday, Benzinga reports. The firm currently has a $79.00 price target on the business services provider’s stock.

A number of other research firms also recently commented on ENV. StockNews.com upgraded Envestnet from a sell rating to a hold rating in a report on Monday, March 25th. JPMorgan Chase & Co. increased their price objective on Envestnet from $44.00 to $45.00 and gave the company a neutral rating in a report on Friday, February 23rd. Royal Bank of Canada increased their price objective on Envestnet from $47.00 to $56.00 and gave the company a sector perform rating in a report on Friday, February 23rd. Raymond James increased their price objective on Envestnet from $52.00 to $60.00 and gave the company an outperform rating in a report on Tuesday, April 2nd. Finally, William Blair reiterated an outperform rating on shares of Envestnet in a report on Wednesday, March 27th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $63.67.

Envestnet Price Performance

Shares of NYSE ENV opened at $63.33 on Wednesday. The stock’s 50-day moving average is $55.04 and its two-hundred day moving average is $47.91. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.90 and a quick ratio of 0.90. Envestnet has a 1-year low of $33.12 and a 1-year high of $68.83. The company has a market cap of $3.47 billion, a price-to-earnings ratio of -14.49 and a beta of 1.31.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share 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 for the quarter, compared to the consensus estimate of $312.24 million. Analysts forecast that Envestnet will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Envestnet 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 sale, the insider now directly owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Lauren Taylor Wolfe acquired 1,670 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was bought at an average cost of $52.99 per share, with a total value of $88,493.30. Following the transaction, the director now owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $39,844.00. Following 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. 8.90% of the stock is currently owned by company insiders.

Institutional Trading of Envestnet

A number of hedge funds have recently added to or reduced their stakes in ENV. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Envestnet by 2.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,280 shares of the business services provider’s stock valued at $616,000 after buying an additional 198 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Envestnet by 1.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 14,478 shares of the business services provider’s stock valued at $764,000 after buying an additional 199 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Envestnet by 8.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the business services provider’s stock valued at $249,000 after buying an additional 267 shares during the period. Sei Investments Co. lifted its holdings in shares of Envestnet by 0.8% in the 2nd quarter. Sei Investments Co. now owns 36,991 shares of the business services provider’s stock valued at $2,195,000 after buying an additional 277 shares during the period. Finally, Mariner LLC lifted its holdings in shares of Envestnet by 2.5% in the 1st quarter. Mariner LLC now owns 12,374 shares of the business services provider’s stock valued at $921,000 after buying an additional 306 shares during the period.

About Envestnet

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.