UBS Group Boosts Envestnet (NYSE:ENV) Price Target to $80.00

Envestnet (NYSE:ENV) had its target price raised by UBS Group from $76.00 to $80.00 in a research note issued to investors on Tuesday, April 9th, AnalystRatings.com reports. They currently have a buy rating on the business services provider’s stock.

A number of other brokerages have also recently issued reports on ENV. Zacks Investment Research upgraded shares of Envestnet from a sell rating to a hold rating in a research note on Thursday, January 10th. ValuEngine upgraded shares of Envestnet from a hold rating to a buy rating in a research note on Saturday, February 23rd. William Blair reiterated an outperform rating on shares of Envestnet in a research note on Thursday, March 14th. JMP Securities upped their price target on shares of Envestnet from $67.00 to $72.00 and gave the stock a market outperform rating in a research note on Friday, March 15th. Finally, Raymond James dropped their price target on shares of Envestnet from $71.00 to $60.00 and set a strong-buy rating on the stock in a research note on Thursday, January 3rd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $69.67.

Shares of ENV stock traded up $1.28 during mid-day trading on Tuesday, reaching $72.45. 281,001 shares of the company’s stock traded hands, compared to its average volume of 275,300. Envestnet has a 12 month low of $46.57 and a 12 month high of $72.67. The stock has a market cap of $3.53 billion, a PE ratio of 57.96, a price-to-earnings-growth ratio of 2.98 and a beta of 1.90. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47.

Envestnet (NYSE:ENV) last announced its earnings results on Thursday, February 21st. The business services provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.18. Envestnet had a net margin of 0.71% and a return on equity of 11.51%. The firm had revenue of $210.08 million for the quarter, compared to analysts’ expectations of $210.52 million. On average, sell-side analysts forecast that Envestnet will post 1.47 earnings per share for the current fiscal year.

In other news, insider Matthew Majoros sold 3,500 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $66.78, for a total transaction of $233,730.00. Following the completion of the sale, the insider now owns 14,846 shares of the company’s stock, valued at approximately $991,415.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joshua Mayer sold 2,616 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $55.00, for a total transaction of $143,880.00. Following the sale, the chief operating officer now directly owns 32,616 shares of the company’s stock, valued at approximately $1,793,880. The disclosure for this sale can be found here. In the last three months, insiders sold 67,146 shares of company stock valued at $4,360,977. 4.97% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in ENV. Norges Bank bought a new position in shares of Envestnet during the 4th quarter valued at approximately $25,851,000. Dimensional Fund Advisors LP grew its stake in shares of Envestnet by 88.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 363,129 shares of the business services provider’s stock valued at $22,133,000 after acquiring an additional 170,702 shares during the period. BlackRock Inc. grew its stake in shares of Envestnet by 4.8% during the 4th quarter. BlackRock Inc. now owns 3,352,246 shares of the business services provider’s stock valued at $164,898,000 after acquiring an additional 152,126 shares during the period. Putnam Investments LLC grew its stake in shares of Envestnet by 262.5% during the 3rd quarter. Putnam Investments LLC now owns 188,073 shares of the business services provider’s stock valued at $11,463,000 after acquiring an additional 136,190 shares during the period. Finally, Vanguard Group Inc grew its stake 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 period. Institutional investors own 92.78% of the company’s stock.

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.

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Analyst Recommendations for Envestnet (NYSE:ENV)

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