Envestnet (NYSE:ENV) Receives Outperform Rating from William Blair

Envestnet (NYSE:ENV)‘s stock had its “outperform” rating reiterated by stock analysts at William Blair in a research report issued on Wednesday, RTT News reports.

A number of other analysts have also recently issued reports on the company. Raymond James upped their target price on Envestnet from $46.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. raised their target price on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Royal Bank of Canada lifted their target price on shares of Envestnet from $47.00 to $56.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. StockNews.com upgraded shares of Envestnet from a “sell” rating to a “hold” rating in a research note on Monday. Finally, DA Davidson raised their price target on Envestnet from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $62.83.

Envestnet Stock Up 1.1 %

ENV stock traded up $0.64 during trading on Wednesday, hitting $56.82. 341,474 shares of the company’s stock were exchanged, compared to its average volume of 422,416. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. Envestnet has a 52-week low of $33.12 and a 52-week high of $66.50. The business has a 50-day moving average price of $52.41 and a two-hundred day moving average price of $46.51. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of -13.00 and a beta of 1.30.

Envestnet (NYSE:ENV) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. The firm had revenue of $317.63 million for the quarter, compared to the consensus estimate of $312.24 million. As a group, equities research analysts expect that Envestnet will post 1.78 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lauren Taylor Wolfe bought 1,670 shares of the stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the transaction, the director now owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Envestnet

Institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in Envestnet during the third quarter worth approximately $45,000. McIlrath & Eck LLC raised its stake in shares of Envestnet by 140.8% in the 4th quarter. McIlrath & Eck LLC now owns 802 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 469 shares in the last quarter. Pinebridge Investments L.P. bought a new position in Envestnet in the second quarter worth about $56,000. Quest Partners LLC bought a new position in shares of Envestnet during the fourth quarter valued at approximately $58,000. Finally, State of Tennessee Treasury Department acquired a new stake in shares of Envestnet during the 2nd quarter worth approximately $59,000.

About Envestnet

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.