UBS Lowers Envestnet (ENV) Price Target to $59.00

Envestnet (NYSE:ENV) had its target price decreased by stock analysts at UBS from $63.00 to $59.00 in a research report issued to clients and investors on Friday, November 17th, www.benzinga.com reports. The brokerage presently has a “buy” rating on the business services provider’s stock. UBS’s price objective indicates a potential upside of 18.24% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. William Blair reiterated an “ourperform” rating on shares of Envestnet in a report on Tuesday, September 26th. Stifel Nicolaus reiterated a “buy” rating and set a $52.00 price target (up from $45.00) on shares of Envestnet in a report on Thursday, August 10th. Zacks Investment Research downgraded shares of Envestnet from a “buy” rating to a “hold” rating in a report on Monday, August 14th. BidaskClub downgraded shares of Envestnet from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Raymond James Financial lifted their price target on shares of Envestnet from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Envestnet currently has an average rating of “Buy” and an average price target of $55.13.

Envestnet (NYSE ENV) traded up $0.75 during trading hours on Friday, reaching $49.90. 228,174 shares of the company’s stock traded hands, compared to its average volume of 269,629. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.90 and a quick ratio of 0.90. Envestnet has a 52-week low of $30.80 and a 52-week high of $55.15. The stock has a market cap of $2,148.83, a P/E ratio of 62.18, a P/E/G ratio of 3.60 and a beta of 1.91.

Envestnet (NYSE:ENV) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Envestnet had a negative net margin of 8.15% and a positive return on equity of 8.92%. The firm had revenue of $175.61 million during the quarter, compared to the consensus estimate of $171.57 million. During the same period last year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. sell-side analysts predict that Envestnet will post 0.9 EPS for the current year.

In related news, CFO Peter D’arrigo sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $48.11, for a total value of $962,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anil Arora sold 16,418 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $50.00, for a total transaction of $820,900.00. Following the completion of the sale, the insider now directly owns 56,175 shares in the company, valued at $2,808,750. The disclosure for this sale can be found here. Insiders sold 214,574 shares of company stock worth $10,881,077 over the last three months. Corporate insiders own 5.58% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Envestnet by 3.1% during the second quarter. BlackRock Inc. now owns 2,662,809 shares of the business services provider’s stock valued at $105,446,000 after buying an additional 81,056 shares in the last quarter. New York State Common Retirement Fund lifted its position in Envestnet by 5.9% during the second quarter. New York State Common Retirement Fund now owns 46,654 shares of the business services provider’s stock valued at $1,847,000 after buying an additional 2,599 shares in the last quarter. Geneva Advisors LLC lifted its position in Envestnet by 3.4% during the second quarter. Geneva Advisors LLC now owns 42,659 shares of the business services provider’s stock valued at $1,689,000 after buying an additional 1,385 shares in the last quarter. Van Berkom & Associates Inc. lifted its position in Envestnet by 8.8% during the second quarter. Van Berkom & Associates Inc. now owns 1,653,145 shares of the business services provider’s stock valued at $65,465,000 after buying an additional 133,303 shares in the last quarter. Finally, Marshall Wace North America L.P. lifted its position in Envestnet by 541.4% during the second quarter. Marshall Wace North America L.P. now owns 64,674 shares of the business services provider’s stock valued at $2,587,000 after buying an additional 54,590 shares in the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

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About Envestnet

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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