Envestnet, Inc (NYSE:ENV) had its price target upped by Jefferies Group LLC from $47.00 to $65.00 in a research report issued to clients and investors on Tuesday, October 17th, The Fly reports. The firm presently has a “buy” rating on the business services provider’s stock. Jefferies Group LLC’s target price would indicate a potential upside of 22.64% from the company’s current price. Jefferies Group also issued estimates for Envestnet’s Q3 2017 earnings at $0.25 EPS, Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $0.87 EPS, Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.32 EPS, Q4 2018 earnings at $0.37 EPS, FY2018 earnings at $1.16 EPS and FY2019 earnings at $1.52 EPS.
Other equities research analysts have also issued reports about the stock. William Blair reiterated an “ourperform” rating on shares of Envestnet in a report on Tuesday, September 26th. Stifel Nicolaus restated a “buy” rating and set a $52.00 price objective (up from $45.00) on shares of Envestnet in a report on Thursday, August 10th. BidaskClub lowered shares of Envestnet from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research lowered shares of Envestnet from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Finally, Raymond James Financial, Inc. raised their price objective on shares of Envestnet from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Envestnet presently has a consensus rating of “Buy” and an average price target of $54.38.
Shares of Envestnet (NYSE:ENV) traded up $0.15 during mid-day trading on Tuesday, reaching $53.00. 50,511 shares of the company’s stock were exchanged, compared to its average volume of 225,712. Envestnet has a 1 year low of $30.80 and a 1 year high of $55.15. The company has a market capitalization of $2,326.46, a PE ratio of 74.44, a PEG ratio of 3.97 and a beta of 1.97. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.55.
Envestnet (NYSE:ENV) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The firm had revenue of $167.50 million during the quarter, compared to analyst estimates of $164.04 million. Envestnet had a positive return on equity of 7.78% and a negative net margin of 8.93%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the business posted $0.21 earnings per share. analysts forecast that Envestnet will post 0.89 EPS for the current year.
In related news, COO Joshua Mayer sold 1,500 shares of Envestnet stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $43.66, for a total transaction of $65,490.00. Following the completion of the sale, the chief operating officer now owns 13,796 shares of the company’s stock, valued at approximately $602,333.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gayle A. Crowell sold 746 shares of Envestnet stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $44.45, for a total transaction of $33,159.70. Following the completion of the sale, the director now owns 801 shares of the company’s stock, valued at approximately $35,604.45. The disclosure for this sale can be found here. Insiders have sold a total of 42,964 shares of company stock valued at $2,171,603 in the last ninety days. 5.58% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of ENV. D.A. Davidson & CO. raised its position in shares of Envestnet by 13.0% in the 2nd quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after buying an additional 379 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Envestnet in the 1st quarter valued at approximately $116,000. Personal Capital Advisors Corp acquired a new position in shares of Envestnet in the 3rd quarter valued at approximately $203,000. FDx Advisors Inc. acquired a new position in shares of Envestnet in the 3rd quarter valued at approximately $244,000. Finally, Gradient Investments LLC acquired a new position in shares of Envestnet in the 2nd quarter valued at approximately $191,000. Institutional investors and hedge funds own 97.03% of the company’s stock.
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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