The Goldman Sachs Group assumed coverage on shares of Envestnet (NYSE:ENV) in a research report sent to investors on Wednesday, AR Network reports. The firm issued a neutral rating and a $91.00 price target on the business services provider’s stock.
A number of other brokerages have also weighed in on ENV. Truist assumed coverage on Envestnet in a research note on Friday, December 18th. They set a buy rating and a $95.00 price target on the stock. Raymond James boosted their price target on Envestnet from $100.00 to $105.00 and gave the stock a strong-buy rating in a research note on Friday, November 6th. Finally, BidaskClub lowered Envestnet from a buy rating to a hold rating in a research note on Thursday, December 31st. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Envestnet presently has a consensus rating of Buy and an average target price of $83.00.
NYSE ENV opened at $85.62 on Wednesday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.79. The company has a market cap of $4.62 billion, a P/E ratio of -658.62 and a beta of 1.54. The company has a fifty day simple moving average of $81.28 and a 200 day simple moving average of $79.85. Envestnet has a 12-month low of $45.53 and a 12-month high of $92.51.
Envestnet (NYSE:ENV) last posted its quarterly earnings data on Thursday, November 5th. The business services provider reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.32. The firm had revenue of $252.60 million for the quarter, compared to analysts’ expectations of $246.65 million. Envestnet had a negative net margin of 0.69% and a positive return on equity of 10.44%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. Sell-side analysts predict that Envestnet will post 1.75 EPS for the current year.
In other news, CIO Brandon Thomas sold 40,801 shares of the business’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $81.67, for a total value of $3,332,217.67. Following the transaction, the executive now directly owns 278,701 shares of the company’s stock, valued at approximately $22,761,510.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stuart Depina sold 19,342 shares of the business’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $81.68, for a total value of $1,579,854.56. Following the completion of the transaction, the president now directly owns 59,467 shares in the company, valued at $4,857,264.56. The disclosure for this sale can be found here. Insiders sold a total of 95,643 shares of company stock worth $7,843,217 over the last three months. 2.44% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Envestnet by 1.9% during the second quarter. Vanguard Group Inc. now owns 4,917,575 shares of the business services provider’s stock valued at $361,639,000 after buying an additional 91,710 shares during the period. Advent International Corp MA boosted its holdings in Envestnet by 81.0% during the 3rd quarter. Advent International Corp MA now owns 1,513,643 shares of the business services provider’s stock worth $116,793,000 after acquiring an additional 677,399 shares during the last quarter. Standard Life Aberdeen plc boosted its holdings in Envestnet by 33.5% during the 3rd quarter. Standard Life Aberdeen plc now owns 1,115,858 shares of the business services provider’s stock worth $86,100,000 after acquiring an additional 280,021 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in Envestnet by 7.4% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,108,220 shares of the business services provider’s stock worth $81,498,000 after acquiring an additional 76,826 shares during the last quarter. Finally, Advent Interntional Corp MA boosted its holdings in Envestnet by 5.7% during the 2nd quarter. Advent Interntional Corp MA now owns 836,244 shares of the business services provider’s stock worth $61,497,000 after acquiring an additional 45,000 shares during the last quarter. 93.45% of the stock is currently owned by institutional investors and hedge funds.
About Envestnet
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet Welth Solutions and Envestnet Data & Analytics segments. The company's product and services include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that 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.
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