Envestnet (ENV) Now Covered by Buckingham Research
Equities researchers at Buckingham Research assumed coverage on shares of Envestnet (NYSE:ENV) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $63.00 price target on the business services provider’s stock. Buckingham Research’s price objective suggests a potential upside of 20.32% from the company’s previous close.
ENV has been the topic of several other reports. Zacks Investment Research upgraded shares of Envestnet from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Thursday, October 4th. TheStreet cut shares of Envestnet from a “b-” rating to a “c+” rating in a report on Wednesday, October 10th. Rosenblatt Securities initiated coverage on shares of Envestnet in a report on Wednesday, December 5th. They set a “buy” rating and a $65.00 price target on the stock. DA Davidson upgraded shares of Envestnet from a “neutral” rating to a “buy” rating in a report on Thursday, November 8th. Finally, JMP Securities cut their price target on shares of Envestnet from $76.00 to $67.00 and set a “market outperform” rating on the stock in a report on Tuesday, November 13th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Envestnet has a consensus rating of “Buy” and a consensus price target of $63.56.
NYSE:ENV opened at $52.36 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.35 billion, a PE ratio of 59.50, a price-to-earnings-growth ratio of 2.02 and a beta of 1.76. Envestnet has a one year low of $46.57 and a one year high of $64.80.
In other Envestnet news, COO Joshua Mayer sold 2,606 shares of the business’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $55.00, for a total value of $143,330.00. Following the transaction, the chief operating officer now directly owns 35,771 shares in the company, valued at $1,967,405. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.49% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Envestnet by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,942,847 shares of the business services provider’s stock valued at $240,316,000 after buying an additional 112,801 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of Envestnet by 2.9% during the 3rd quarter. Vanguard Group Inc now owns 3,942,847 shares of the business services provider’s stock valued at $240,316,000 after buying an additional 112,801 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Envestnet by 1.6% during the 3rd quarter. BlackRock Inc. now owns 3,200,120 shares of the business services provider’s stock valued at $195,048,000 after buying an additional 49,908 shares in the last quarter. Wasatch Advisors Inc. lifted its stake in shares of Envestnet by 0.6% during the 3rd quarter. Wasatch Advisors Inc. now owns 2,503,335 shares of the business services provider’s stock valued at $152,578,000 after buying an additional 13,957 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Envestnet by 1.4% during the 3rd quarter. Clearbridge Investments LLC now owns 888,199 shares of the business services provider’s stock valued at $54,136,000 after buying an additional 11,953 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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