Envestnet Inc. (ENV) PT Raised to $45.00
Envestnet Inc. (NYSE:ENV) had its price objective hoisted by equities research analysts at Stifel Nicolaus from $40.00 to $45.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 37.40% from the company’s current price.
Several other analysts have also issued reports on ENV. Zacks Investment Research upgraded Envestnet from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Thursday, July 14th. Jefferies Group restated a “buy” rating on shares of Envestnet in a research note on Wednesday, August 3rd. Royal Bank Of Canada upped their price objective on Envestnet from $37.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 9th. Avondale Partners lowered Envestnet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 9th. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $40.00 price objective (up previously from $37.00) on shares of Envestnet in a research note on Wednesday, August 10th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $36.81.
Envestnet (NYSE:ENV) opened at 32.75 on Tuesday. The company’s 50 day moving average price is $36.06 and its 200 day moving average price is $35.88. Envestnet has a 52-week low of $19.30 and a 52-week high of $41.47. The company’s market cap is $1.40 billion.
Envestnet (NYSE:ENV) last released its quarterly earnings data on Monday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $149.20 million for the quarter, compared to analyst estimates of $147.01 million. Envestnet had a positive return on equity of 3.91% and a negative net margin of 4.97%. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. Equities research analysts anticipate that Envestnet will post $0.99 EPS for the current fiscal year.
In other Envestnet news, Director Anil Arora sold 2,520 shares of the firm’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $40.33, for a total value of $101,631.60. Following the sale, the director now owns 84,694 shares of the company’s stock, valued at approximately $3,415,709.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Judson Bergman sold 12,969 shares of the firm’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $34.74, for a total value of $450,543.06. Following the completion of the sale, the chief executive officer now directly owns 657,206 shares in the company, valued at approximately $22,831,336.44. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.
Several large investors have recently modified their holdings of ENV. BlackRock Inc. increased its stake in shares of Envestnet by 233.3% in the first quarter. BlackRock Inc. now owns 4,093 shares of the company’s stock worth $111,000 after buying an additional 2,865 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Envestnet by 113.8% in the third quarter. BNP Paribas Arbitrage SA now owns 3,448 shares of the company’s stock worth $126,000 after buying an additional 1,835 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Envestnet by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 5,343 shares of the company’s stock worth $178,000 after buying an additional 638 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Envestnet by 76.9% in the third quarter. Great West Life Assurance Co. Can now owns 5,306 shares of the company’s stock worth $193,000 after buying an additional 2,306 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Envestnet during the third quarter worth $195,000.
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.
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