Envestnet, Inc (NYSE:ENV) Price Target Raised to $48.00

Envestnet, Inc (NYSE:ENV) had its price target boosted by Raymond James Financial, Inc. from $44.00 to $48.00 in a research report report published on Wednesday. They currently have a buy rating on the business services provider’s stock.

A number of other research firms have also weighed in on ENV. DA Davidson initiated coverage on shares of Envestnet in a research note on Thursday, July 6th. They set a neutral rating and a $42.00 price objective for the company. William Blair restated a buy rating on shares of Envestnet in a research note on Wednesday, June 28th. Zacks Investment Research lowered shares of Envestnet from a hold rating to a strong sell rating in a research note on Tuesday, April 25th. BidaskClub upgraded shares of Envestnet from a hold rating to a buy rating in a research note on Tuesday, June 13th. Finally, Royal Bank Of Canada restated a hold rating and set a $40.00 price objective on shares of Envestnet in a research note on Thursday, May 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Envestnet has an average rating of Buy and an average target price of $45.50.

Envestnet (NYSE ENV) traded down 0.58% during midday trading on Wednesday, hitting $42.70. 271,917 shares of the stock traded hands. Envestnet has a 52 week low of $30.80 and a 52 week high of $45.18. The stock’s 50-day moving average price is $39.29 and its 200-day moving average price is $36.77. The stock’s market capitalization is $1.88 billion.

Envestnet (NYSE:ENV) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $167.50 million for the quarter, compared to the consensus estimate of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 earnings per share. Equities research analysts expect that Envestnet will post $1.27 EPS for the current fiscal year.

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In related news, Director Gayle A. Crowell sold 746 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $39.20, for a total transaction of $29,243.20. Following the completion of the sale, the director now directly owns 801 shares in the company, valued at $31,399.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anil Arora sold 8,980 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $40.00, for a total transaction of $359,200.00. Following the sale, the insider now owns 68,609 shares of the company’s stock, valued at $2,744,360. The disclosure for this sale can be found here. Over the last quarter, insiders bought 3,968 shares of company stock valued at $145,287 and sold 32,972 shares valued at $1,300,284. Insiders own 7.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ENV. Whetstone Capital Advisors LLC raised its stake in shares of Envestnet by 0.6% in the second quarter. Whetstone Capital Advisors LLC now owns 345,126 shares of the business services provider’s stock valued at $13,477,000 after buying an additional 2,100 shares during the period. California Public Employees Retirement System raised its stake in shares of Envestnet by 0.9% in the second quarter. California Public Employees Retirement System now owns 34,906 shares of the business services provider’s stock valued at $1,382,000 after buying an additional 300 shares during the period. Vanguard Group Inc. raised its stake in shares of Envestnet by 5.8% in the second quarter. Vanguard Group Inc. now owns 3,454,623 shares of the business services provider’s stock valued at $136,803,000 after buying an additional 188,892 shares during the period. Northern Trust Corp raised its stake in shares of Envestnet by 11.2% in the second quarter. Northern Trust Corp now owns 600,463 shares of the business services provider’s stock valued at $23,779,000 after buying an additional 60,652 shares during the period. Finally, D.A. Davidson & CO. raised its stake in shares of Envestnet by 13.0% in the second quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after buying an additional 379 shares during the period. Institutional investors own 99.92% of the company’s stock.

Envestnet Company Profile

Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.

Analyst Recommendations for Envestnet (NYSE:ENV)

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