According to Zacks, “Envestnet, Inc. is an independent provider of technology-enabled, Web-based investment solutions and services to financial advisors. The Company’s technology platform allows financial advisors to provide their clients with a wide range of investment solutions and services. It offers risk assessment and selection of investment strategies, asset allocation models, research and due diligence, portfolio construction, proposal generation and paperwork preparation, model management and account rebalancing, account monitoring, customized fee billing, overlay services covering asset allocation, tax management and socially responsible investing, aggregated multi-custodian performance reporting and communication tools, as well as access to a range of third-party asset custodians. Envestnet focuses its technology development efforts and its sales and marketing approach on addressing financial advisors’ front, middle and back office needs. Envestnet, Inc. is headquartered in Chicago, Illinois. “
Several other research analysts have also issued reports on ENV. JMP Securities reaffirmed a buy rating and issued a $9.50 target price (down previously from $36.00) on shares of Envestnet in a research note on Thursday, June 23rd. Jefferies Group reissued a buy rating on shares of Envestnet in a research note on Wednesday, August 3rd. Royal Bank Of Canada lifted their price objective on shares of Envestnet from $37.00 to $40.00 and gave the stock a sector perform rating in a research note on Tuesday, August 9th. Avondale Partners lowered shares of Envestnet from an outperform rating to a market perform rating in a research note on Tuesday, August 9th. Finally, RBC Capital Markets reissued a sector perform rating and set a $40.00 price objective (up previously from $37.00) on shares of Envestnet in a research note on Wednesday, August 10th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $36.19.
Shares of Envestnet (NYSE:ENV) opened at 35.88 on Tuesday. The firm has a 50-day moving average of $37.67 and a 200 day moving average of $35.28. Envestnet has a 52-week low of $19.30 and a 52-week high of $41.47. The company’s market capitalization is $1.54 billion.
Envestnet (NYSE:ENV) last issued its earnings results on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $141.70 million for the quarter, compared to analyst estimates of $139.12 million. Envestnet had a negative net margin of 3.95% and a positive return on equity of 4.20%. The company’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. On average, analysts anticipate that Envestnet will post $0.99 EPS for the current year.
In other news, Director Anil Arora sold 1,750 shares of Envestnet stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $37.50, for a total value of $65,625.00. Following the sale, the director now directly owns 92,114 shares in the company, valued at $3,454,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Judson Bergman sold 20,000 shares of Envestnet stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $35.52, for a total transaction of $710,400.00. Following the completion of the sale, the chief executive officer now owns 669,106 shares in the company, valued at $23,766,645.12. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its stake in Envestnet by 280.0% in the first quarter. Barclays PLC now owns 55,816 shares of the company’s stock worth $1,507,000 after buying an additional 41,127 shares during the period. Goldman Sachs Group Inc. increased its stake in Envestnet by 347.1% in the first quarter. Goldman Sachs Group Inc. now owns 78,914 shares of the company’s stock worth $2,146,000 after buying an additional 61,262 shares during the period. BlackRock Inc. increased its stake in Envestnet by 233.3% in the first quarter. BlackRock Inc. now owns 4,093 shares of the company’s stock worth $111,000 after buying an additional 2,865 shares during the period. EAM Investors LLC acquired a new stake in Envestnet during the second quarter worth about $2,437,000. Finally, Nuveen Asset Management LLC acquired a new stake in Envestnet during the first quarter worth about $1,207,000.
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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