Envestnet (NYSE:ENV) Sees Large Volume Increase

Shares of Envestnet, Inc. (NYSE:ENV) saw strong trading volume on Wednesday . 1,085,842 shares traded hands during mid-day trading, an increase of 123% from the previous session’s volume of 487,814 shares.The stock last traded at $61.68 and had previously closed at $61.80.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Raymond James boosted their target price on shares of Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. William Blair reiterated an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. Royal Bank of Canada boosted their target price on shares of Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a report on Friday, February 23rd. DA Davidson boosted their target price on shares of Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.67.

Envestnet Trading Up 1.8 %

The stock has a 50-day moving average of $54.82 and a 200 day moving average of $47.77. The stock has a market cap of $3.47 billion, a PE ratio of -14.32 and a beta of 1.31. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53.

Envestnet (NYSE:ENV) last issued its earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The firm had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. As a group, sell-side analysts anticipate that Envestnet, Inc. will post 1.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Lauren Taylor Wolfe acquired 1,670 shares of the stock in a transaction on Friday, March 15th. The shares were acquired at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the transaction, the director now owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Envestnet news, insider Matthew Majoros sold 700 shares of the company’s 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 owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lauren Taylor Wolfe acquired 1,670 shares of the stock in a transaction on Friday, March 15th. The stock was bought at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the transaction, the director now owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. Insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. lifted its position in shares of Envestnet by 2.4% during 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 in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Envestnet by 1.4% during 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 in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Envestnet by 8.7% during 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 in the last quarter. Sei Investments Co. lifted its position in shares of Envestnet by 0.8% during 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 in the last quarter. Finally, Mariner LLC lifted its position in shares of Envestnet by 2.5% during 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 in the last quarter.

Envestnet Company Profile

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.