Envestnet (NYSE:ENV) Trading 3.8% Higher

Envestnet, Inc. (NYSE:ENV) shares traded up 3.8% on Tuesday . The company traded as high as $58.88 and last traded at $58.70. 220,478 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 439,174 shares. The stock had previously closed at $56.54.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ENV shares. StockNews.com upgraded shares of Envestnet from a “sell” rating to a “hold” rating in a report on Monday, March 25th. DA Davidson lifted their price objective on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Royal Bank of Canada boosted their target price on shares of Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a report on Friday, February 23rd. Finally, Raymond James lifted their price objective on shares of Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Envestnet Price Performance

The company’s 50-day moving average is $54.61 and its two-hundred day moving average is $47.67. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90.

Envestnet (NYSE:ENV) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $312.24 million. As a group, analysts anticipate that Envestnet, Inc. will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Envestnet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. McIlrath & Eck LLC increased its position in Envestnet by 140.8% during 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 during the period. State of Tennessee Treasury Department acquired a new stake in Envestnet during the 2nd quarter valued at approximately $59,000. Headlands Technologies LLC acquired a new stake in Envestnet during the 3rd quarter valued at approximately $45,000. Quest Partners LLC acquired a new stake in Envestnet during the 4th quarter valued at approximately $58,000. Finally, Covestor Ltd increased its position in Envestnet by 86.2% during the 1st quarter. Covestor Ltd now owns 1,398 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 647 shares during the period.

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.