Envestnet (ENV) Sets New 52-Week High at $65.09

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Envestnet Inc (NYSE:ENV) hit a new 52-week high on Wednesday . The company traded as high as $65.09 and last traded at $65.17, with a volume of 347037 shares trading hands. The stock had previously closed at $63.42.

A number of equities research analysts recently weighed in on ENV shares. Zacks Investment Research upgraded shares of Envestnet from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. ValuEngine upgraded shares of Envestnet from a “hold” rating to a “buy” rating in a research note on Saturday, February 23rd. UBS Group lowered their target price on Envestnet from $67.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, January 8th. Rosenblatt Securities began coverage on Envestnet in a report on Wednesday, December 5th. They set a “buy” rating and a $65.00 target price on the stock. Finally, Raymond James lowered their target price on Envestnet from $71.00 to $60.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $64.22.

The firm has a market capitalization of $3.06 billion, a PE ratio of 51.58, a PEG ratio of 2.56 and a beta of 1.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.11 and a quick ratio of 1.11.

Envestnet (NYSE:ENV) last released its earnings results on Thursday, February 21st. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.18. The firm had revenue of $210.08 million for the quarter, compared to analyst estimates of $210.52 million. Envestnet had a return on equity of 11.51% and a net margin of 0.71%. As a group, research analysts predict that Envestnet Inc will post 1.53 EPS for the current fiscal year.

In related news, COO Joshua Mayer sold 1,162 shares of Envestnet stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $61.15, for a total value of $71,056.30. Following the transaction, the chief operating officer now owns 36,222 shares of the company’s stock, valued at approximately $2,214,975.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anil Arora sold 567 shares of Envestnet stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $54.74, for a total value of $31,037.58. Following the completion of the transaction, the insider now directly owns 64,745 shares in the company, valued at approximately $3,544,141.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,462 shares of company stock worth $521,883. 5.49% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE increased its stake in Envestnet by 14.7% in the 3rd quarter. US Bancorp DE now owns 10,999 shares of the business services provider’s stock worth $670,000 after purchasing an additional 1,406 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in Envestnet during the 3rd quarter worth about $207,000. Victory Capital Management Inc. boosted its position in Envestnet by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 671,388 shares of the business services provider’s stock worth $33,025,000 after acquiring an additional 11,870 shares during the period. Comerica Bank acquired a new stake in Envestnet during the 3rd quarter worth about $1,267,000. Finally, Clearbridge Investments LLC boosted its position in Envestnet by 1.4% during the 3rd quarter. Clearbridge Investments LLC now owns 888,199 shares of the business services provider’s stock worth $54,136,000 after acquiring an additional 11,953 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

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About Envestnet (NYSE:ENV)

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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