Brokerages Set Envestnet Inc (ENV) Price Target at $64.75
Shares of Envestnet Inc (NYSE:ENV) have been assigned a consensus recommendation of “Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $68.29.
A number of equities research analysts have recently issued reports on ENV shares. DA Davidson boosted their price target on shares of Envestnet to $64.00 and gave the company an “average” rating in a report on Friday, February 22nd. They noted that the move was a valuation call. TheStreet upgraded shares of Envestnet from a “c+” rating to a “b” rating in a research note on Friday, February 22nd. Buckingham Research started coverage on shares of Envestnet in a research note on Thursday, January 10th. They issued a “buy” rating and a $63.00 price objective on the stock. UBS Group dropped their price objective on shares of Envestnet from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, January 8th. Finally, ValuEngine upgraded shares of Envestnet from a “hold” rating to a “buy” rating in a research note on Saturday, February 23rd.
Shares of ENV stock traded up $2.02 during trading hours on Thursday, reaching $68.87. 353,467 shares of the stock traded hands, compared to its average volume of 271,495. Envestnet has a 1-year low of $46.57 and a 1-year high of $68.91. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $3.26 billion, a P/E ratio of 55.10, a P/E/G ratio of 2.67 and a beta of 1.90.
In other Envestnet news, COO Joshua Mayer sold 1,162 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $61.15, for a total value of $71,056.30. Following the completion of the sale, the chief operating officer now directly owns 36,222 shares of the company’s stock, valued at $2,214,975.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anil Arora sold 567 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $54.74, for a total transaction of $31,037.58. Following the completion of the sale, the insider now directly owns 64,745 shares of the company’s stock, valued at $3,544,141.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,505 shares of company stock worth $4,645,164. Company insiders own 5.49% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ENV. Hartford Financial Management Inc. bought a new stake in shares of Envestnet during the 4th quarter worth $49,000. Advisors Asset Management Inc. acquired a new stake in shares of Envestnet during the 4th quarter worth about $58,000. Bank of Montreal Can increased its position in shares of Envestnet by 23.5% during the 4th quarter. Bank of Montreal Can now owns 1,410 shares of the business services provider’s stock worth $69,000 after purchasing an additional 268 shares in the last quarter. Huntington National Bank increased its position 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 purchasing an additional 331 shares in the last quarter. Finally, Strs Ohio increased its position in shares of Envestnet by 15.8% during the 4th quarter. Strs Ohio now owns 2,200 shares of the business services provider’s stock worth $108,000 after purchasing an additional 300 shares in the last quarter. 93.86% of the stock is owned by institutional investors.
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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