SunTrust Banks assumed coverage on shares of Envestnet (NYSE:ENV) in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $80.00 target price on the business services provider’s stock.
Other equities research analysts have also issued research reports about the company. DA Davidson lifted their price objective on Envestnet to $64.00 and gave the stock an average rating in a report on Friday, February 22nd. They noted that the move was a valuation call. TheStreet raised Envestnet from a c+ rating to a b rating in a report on Friday, February 22nd. Buckingham Research initiated coverage on Envestnet in a report on Thursday, January 10th. They issued a buy rating and a $63.00 price objective for the company. UBS Group decreased their price objective on Envestnet from $67.00 to $64.00 and set a buy rating for the company in a report on Tuesday, January 8th. Finally, ValuEngine raised Envestnet from a hold rating to a buy rating in a report on Saturday, February 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $69.67.
Shares of Envestnet stock opened at $69.67 on Thursday. Envestnet has a 1 year low of $46.57 and a 1 year high of $69.95. The firm has a market cap of $3.40 billion, a PE ratio of 55.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.90. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.47.
In other Envestnet news, COO Joshua Mayer sold 1,162 shares of Envestnet stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $61.15, for a total transaction of $71,056.30. Following the completion of the transaction, the chief operating officer now owns 36,222 shares of the company’s stock, valued at approximately $2,214,975.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anil Arora sold 567 shares of Envestnet stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $54.74, for a total value of $31,037.58. Following the transaction, the insider now directly owns 64,745 shares of the company’s stock, valued at approximately $3,544,141.30. The disclosure for this sale can be found here. In the last three months, insiders sold 72,505 shares of company stock valued at $4,645,164. 5.49% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. grew its holdings in Envestnet by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 671,388 shares of the business services provider’s stock valued at $33,025,000 after buying an additional 11,870 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Envestnet by 1.4% during the 3rd quarter. Clearbridge Investments LLC now owns 888,199 shares of the business services provider’s stock valued at $54,136,000 after acquiring an additional 11,953 shares during the last quarter. MetLife Investment Advisors LLC boosted its position in shares of Envestnet by 55.1% during the 3rd quarter. MetLife Investment Advisors LLC now owns 31,346 shares of the business services provider’s stock valued at $1,911,000 after acquiring an additional 11,139 shares during the last quarter. Strs Ohio boosted its position in shares of Envestnet by 15.8% during the 4th quarter. Strs Ohio now owns 2,200 shares of the business services provider’s stock valued at $108,000 after acquiring an additional 300 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Envestnet by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,942,847 shares of the business services provider’s stock valued at $240,316,000 after acquiring an additional 112,801 shares during the last quarter. 93.86% of the stock is owned by institutional investors and hedge funds.
Envestnet Company Profile
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 and Envestnet | Yodlee segments. The company's product and services suites 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; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
Further Reading: Earnings Per Share
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