Envestnet (NYSE:ENV) Upgraded at Jefferies Financial Group

Envestnet (NYSE:ENV) was upgraded by investment analysts at Jefferies Financial Group from an “underperform” rating to a “hold” rating in a report released on Wednesday, Marketbeat reports. The firm currently has a $59.00 price target on the business services provider’s stock, up from their prior price target of $47.00. Jefferies Financial Group’s price objective points to a potential downside of 5.90% from the stock’s previous close.

A number of other research firms have also recently commented on ENV. DA Davidson increased their target price on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $79.00 target price on shares of Envestnet in a research report on Wednesday, April 17th. Raymond James raised their price target on Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. StockNews.com lowered shares of Envestnet from a “hold” rating to a “sell” rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. boosted 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.00.

Envestnet Stock Down 1.2 %

Shares of NYSE ENV opened at $62.70 on Wednesday. Envestnet has a 12-month low of $33.12 and a 12-month high of $68.83. The stock’s fifty day simple moving average is $57.80 and its two-hundred day simple moving average is $49.81. The stock has a market capitalization of $3.44 billion, a PE ratio of -14.35 and a beta of 1.26. 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 (NYSE:ENV) last issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The company had revenue of $317.63 million for the quarter, compared to the consensus estimate of $312.24 million. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. As a group, analysts expect that Envestnet will post 1.78 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Envestnet

A number of hedge funds have recently bought and sold shares of ENV. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Envestnet by 13.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,575 shares of the business services provider’s stock valued at $5,397,000 after buying an additional 14,916 shares in the last quarter. TD Asset Management Inc lifted its holdings in Envestnet by 39.8% during the third quarter. TD Asset Management Inc now owns 35,834 shares of the business services provider’s stock valued at $1,578,000 after purchasing an additional 10,200 shares in the last quarter. Summit Creek Advisors LLC grew its position in shares of Envestnet by 0.4% in the third quarter. Summit Creek Advisors LLC now owns 345,682 shares of the business services provider’s stock valued at $15,220,000 after purchasing an additional 1,248 shares during the period. Cambiar Investors LLC increased its stake in shares of Envestnet by 14.5% during the third quarter. Cambiar Investors LLC now owns 34,829 shares of the business services provider’s stock worth $1,534,000 after purchasing an additional 4,400 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Envestnet by 4.3% during the 3rd quarter. California Public Employees Retirement System now owns 278,135 shares of the business services provider’s stock worth $12,246,000 after purchasing an additional 11,568 shares during the last quarter.

Envestnet Company Profile

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.