Envestnet (NYSE:ENV) Reaches New 12-Month High on Analyst Upgrade

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Envestnet Inc (NYSE:ENV) shares hit a new 52-week high on Friday after Raymond James raised their price target on the stock from $82.00 to $83.00. Raymond James currently has a strong-buy rating on the stock. Envestnet traded as high as $72.98 and last traded at $72.97, with a volume of 5298 shares changing hands. The stock had previously closed at $71.08.

A number of other equities research analysts also recently commented on ENV. UBS Group lifted their target price on shares of Verisk Analytics from $106.00 to $111.00 and gave the stock a “sell” rating in a research report on Tuesday, April 9th. JMP Securities lifted their target price on shares of Envestnet from $67.00 to $72.00 and gave the stock a “market outperform” rating in a research report on Friday, March 15th. DA Davidson downgraded shares of Envestnet from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $64.00 to $67.00 in a research report on Wednesday, March 20th. They noted that the move was a valuation call. SunTrust Banks lifted their target price on shares of PepsiCo to $120.00 and gave the stock a “hold” rating in a research report on Thursday, April 18th. Finally, Buckingham Research downgraded shares of Envestnet from a “buy” rating to a “neutral” rating and set a $73.00 target price for the company. in a research report on Thursday, May 9th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $73.30.

In other Envestnet news, CEO Judson Bergman sold 15,000 shares of Envestnet stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $69.81, for a total value of $1,047,150.00. Following the completion of the sale, the chief executive officer now owns 813,323 shares of the company’s stock, valued at approximately $56,778,078.63. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stuart Depina sold 4,805 shares of Envestnet stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $71.21, for a total transaction of $342,164.05. Following the transaction, the insider now owns 44,512 shares in the company, valued at approximately $3,169,699.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,369 shares of company stock valued at $5,209,422. 4.97% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of ENV. Marshall Wace LLP purchased a new position in shares of Envestnet during the 1st quarter worth $50,000. Pittenger & Anderson Inc. boosted its stake in shares of Envestnet by 37.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 1,375 shares of the business services provider’s stock worth $90,000 after acquiring an additional 375 shares during the last quarter. Huntington National Bank boosted its stake in shares of Envestnet by 27.3% during the 1st quarter. Huntington National Bank now owns 1,543 shares of the business services provider’s stock worth $101,000 after acquiring an additional 331 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Envestnet by 66.9% during the 1st quarter. Advisors Asset Management Inc. now owns 1,974 shares of the business services provider’s stock worth $129,000 after acquiring an additional 791 shares during the last quarter. Finally, CAPROCK Group Inc. purchased a new position in shares of Envestnet during the 1st quarter worth $211,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

The firm has a 50 day simple moving average of $68.81. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 58.19, a PEG ratio of 3.13 and a beta of 1.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.03 and a current ratio of 1.03.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.04). The business had revenue of $199.70 million for the quarter, compared to analysts’ expectations of $201.37 million. Envestnet had a positive return on equity of 10.28% and a negative net margin of 2.52%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 EPS. On average, equities analysts anticipate that Envestnet Inc will post 1.4 earnings per share for the current year.

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 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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