DA Davidson Boosts Envestnet (NYSE:ENV) Price Target to $74.00

Envestnet (NYSE:ENV) had its price objective hoisted by DA Davidson from $67.00 to $74.00 in a report released on Friday, November 8th, Stock Target Advisor reports. The brokerage currently has a buy rating on the business services provider’s stock.

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ENV has been the subject of a number of other reports. Raymond James upped their price target on shares of Envestnet from $82.00 to $83.00 and gave the company a strong-buy rating in a report on Thursday, July 11th. Zacks Investment Research downgraded shares of Envestnet from a hold rating to a sell rating in a report on Tuesday, August 13th. ValuEngine downgraded shares of Envestnet from a buy rating to a hold rating in a report on Thursday, August 8th. Finally, Buckingham Research cut their price objective on Envestnet from $71.00 to $68.00 and set a neutral rating on the stock in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $74.00.

NYSE ENV traded down $0.13 on Friday, reaching $64.96. The company’s stock had a trading volume of 407,105 shares, compared to its average volume of 362,711. Envestnet has a twelve month low of $46.57 and a twelve month high of $73.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.54 and a current ratio of 0.46. The stock has a market cap of $3.42 billion, a PE ratio of 51.97, a PEG ratio of 2.78 and a beta of 1.76. The firm’s 50 day moving average is $60.38 and its two-hundred day moving average is $64.40.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Envestnet had a negative net margin of 2.35% and a positive return on equity of 8.44%. The company had revenue of $236.08 million during the quarter, compared to the consensus estimate of $233.02 million. During the same period in the prior year, the company earned $0.53 EPS. Envestnet’s revenue was up 16.2% on a year-over-year basis. Equities research analysts anticipate that Envestnet will post 1.34 EPS for the current fiscal year.

In other news, CFO Peter D’arrigo sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $62.50, for a total value of $312,500.00. Following the transaction, the chief financial officer now owns 57,747 shares in the company, valued at approximately $3,609,187.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Crager sold 72,750 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $57.16, for a total value of $4,158,390.00. Following the completion of the transaction, the insider now owns 297,054 shares in the company, valued at approximately $16,979,606.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,714 shares of company stock worth $6,542,911. Corporate insiders own 4.97% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Envestnet by 9.4% in the second quarter. Vanguard Group Inc. now owns 4,491,058 shares of the business services provider’s stock worth $307,053,000 after buying an additional 384,026 shares during the last quarter. TimesSquare Capital Management LLC increased its holdings in Envestnet by 148.3% in the third quarter. TimesSquare Capital Management LLC now owns 1,541,300 shares of the business services provider’s stock worth $87,392,000 after buying an additional 920,535 shares during the last quarter. DF Dent & Co. Inc. increased its holdings in Envestnet by 0.4% in the second quarter. DF Dent & Co. Inc. now owns 1,187,275 shares of the business services provider’s stock worth $81,174,000 after buying an additional 4,579 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in Envestnet by 2.6% in the third quarter. Stephens Investment Management Group LLC now owns 938,910 shares of the business services provider’s stock worth $53,236,000 after buying an additional 23,533 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Envestnet by 1.4% in the second quarter. Northern Trust Corp now owns 684,203 shares of the business services provider’s stock worth $46,779,000 after buying an additional 9,688 shares during the last quarter. Hedge funds and other institutional investors own 91.70% 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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