Envestnet (NYSE:ENV) Trading 3.8% Higher

Envestnet, Inc. (NYSE:ENV)’s share price rose 3.8% during mid-day trading on Tuesday . The stock traded as high as $58.88 and last traded at $58.70. Approximately 220,478 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 439,174 shares. The stock had previously closed at $56.54.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ENV shares. William Blair reaffirmed an “outperform” rating on shares of Envestnet in a research note on Wednesday, March 27th. Royal Bank of Canada raised their price target on Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $79.00 price target on shares of Envestnet in a research note on Wednesday. Raymond James raised their price target on Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. raised their price target on Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Envestnet Stock Up 0.6 %

The firm has a 50-day moving average price of $54.61 and a 200-day moving average price of $47.67. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.90 and a quick ratio of 0.90.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.10. The firm had revenue of $317.63 million during the quarter, compared to analyst estimates of $312.24 million. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. Sell-side analysts forecast that Envestnet, Inc. will post 1.78 earnings per share for the current fiscal year.

Insider Transactions at Envestnet

In related news, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the sale, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Envestnet news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the sale, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of the business’s stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $52.99 per share, with a total value of $88,493.30. Following the completion of the purchase, the director now owns 4,188,871 shares in the company, valued at $221,968,274.29. The disclosure for this purchase can be found here. 8.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ENV. Raymond James Financial Services Advisors Inc. lifted its holdings in Envestnet by 2.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,280 shares of the business services provider’s stock worth $616,000 after purchasing an additional 198 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Envestnet by 8.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the business services provider’s stock worth $249,000 after purchasing an additional 267 shares in the last quarter. Rhumbline Advisers lifted its holdings in Envestnet by 2.4% in the 1st quarter. Rhumbline Advisers now owns 152,849 shares of the business services provider’s stock worth $11,378,000 after purchasing an additional 3,542 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Envestnet by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,026 shares of the business services provider’s stock worth $1,491,000 after purchasing an additional 1,909 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in Envestnet by 9.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 29,683 shares of the business services provider’s stock worth $2,271,000 after purchasing an additional 2,517 shares in the last quarter.

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.