Envestnet’s (ENV) Buy Rating Reaffirmed at UBS AG
Envestnet, Inc (NYSE:ENV)‘s stock had its “buy” rating reiterated by investment analysts at UBS AG in a report issued on Monday, www.benzinga.com reports. They presently have a $63.00 price target on the business services provider’s stock, up from their prior price target of $50.00. UBS AG’s price target would indicate a potential upside of 17.43% from the company’s previous close.
A number of other brokerages have also recently commented on ENV. Royal Bank Of Canada restated a “hold” rating and issued a $48.00 price target on shares of Envestnet in a research report on Thursday. Zacks Investment Research upgraded Envestnet from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. William Blair reiterated an “ourperform” rating on shares of Envestnet in a research report on Tuesday, September 26th. Stifel Nicolaus reissued a “buy” rating and set a $52.00 price target on shares of Envestnet in a research note on Tuesday, September 26th. Finally, JMP Securities increased their price target on Envestnet from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, September 26th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Envestnet has a consensus rating of “Hold” and an average price target of $50.00.
Shares of Envestnet (NYSE ENV) traded up 1.631% during midday trading on Monday, hitting $54.525. The stock had a trading volume of 111,243 shares. The stock’s 50-day moving average is $46.95 and its 200-day moving average is $39.38. The stock’s market cap is $2.40 billion. Envestnet has a 12 month low of $30.80 and a 12 month high of $54.65.
Envestnet (NYSE:ENV) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $164.04 million. Envestnet had a positive return on equity of 7.78% and a negative net margin of 8.93%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. Equities analysts anticipate that Envestnet will post $1.29 EPS for the current year.
In related news, COO Joshua Mayer sold 1,500 shares of Envestnet stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $43.66, for a total value of $65,490.00. Following the completion of the transaction, the chief operating officer now owns 13,796 shares in the company, valued at approximately $602,333.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anil Arora sold 8,980 shares of Envestnet stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $40.00, for a total value of $359,200.00. Following the completion of the transaction, the insider now owns 68,609 shares of the company’s stock, valued at approximately $2,744,360. The disclosure for this sale can be found here. In the last three months, insiders sold 40,944 shares of company stock valued at $1,933,230. Insiders own 5.58% of the company’s stock.
A number of large investors have recently bought and sold shares of ENV. Ameritas Investment Partners Inc. purchased a new stake in Envestnet during the 1st quarter worth approximately $116,000. D.A. Davidson & CO. grew its position 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 purchasing an additional 379 shares in the last quarter. Parallel Advisors LLC purchased a new stake in shares of Envestnet in the first quarter valued at approximately $131,000. Gradient Investments LLC purchased a new stake in shares of Envestnet in the second quarter valued at approximately $191,000. Finally, Blueport Capital L.P. grew its position in shares of Envestnet by 69.9% in the first quarter. Blueport Capital L.P. now owns 6,254 shares of the business services provider’s stock valued at $202,000 after purchasing an additional 2,574 shares in the last quarter. Institutional investors own 95.51% of the company’s stock.
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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