Envestnet Inc (NYSE:ENV)‘s stock had its “buy” rating reissued by stock analysts at Jefferies Group LLC in a research note issued to investors on Friday. They currently have a $48.00 price target on the stock. Jefferies Group LLC’s target price suggests a potential upside of 52.62% from the company’s previous close.
Separately, Zacks Investment Research raised shares of Envestnet from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research note on Tuesday, January 10th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $36.90.
Shares of Envestnet (NYSE:ENV) traded down 1.72% during trading on Friday, hitting $31.45. 476,222 shares of the stock were exchanged. Envestnet has a 1-year low of $25.32 and a 1-year high of $41.47. The firm’s 50-day moving average is $36.68 and its 200 day moving average is $36.54. The company’s market cap is $1.37 billion.
Envestnet (NYSE:ENV) last released its earnings results on Thursday, March 16th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. Envestnet had a negative net margin of 4.97% and a positive return on equity of 3.91%. The business earned $156 million during the quarter, compared to analysts’ expectations of $154.52 million. During the same period last year, the business earned $0.28 earnings per share. The firm’s revenue was up 31.5% on a year-over-year basis. Equities analysts forecast that Envestnet will post $0.98 earnings per share for the current fiscal year.
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In other Envestnet news, President William Crager sold 2,500 shares of Envestnet stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $35.33, for a total transaction of $88,325.00. Following the completion of the transaction, the president now directly owns 143,829 shares of the company’s stock, valued at $5,081,478.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gayle A. Crowell sold 746 shares of Envestnet stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $39.00, for a total transaction of $29,094.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,216 shares of company stock valued at $4,083,413. Company insiders own 7.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ENV. Nationwide Fund Advisors boosted its position in Envestnet by 12.0% in the third quarter. Nationwide Fund Advisors now owns 222,545 shares of the company’s stock worth $8,112,000 after buying an additional 23,865 shares during the period. Stephens Investment Management Group LLC boosted its position in Envestnet by 4.8% in the third quarter. Stephens Investment Management Group LLC now owns 1,171,716 shares of the company’s stock worth $42,709,000 after buying an additional 53,451 shares during the period. King Luther Capital Management Corp boosted its position in Envestnet by 323.3% in the third quarter. King Luther Capital Management Corp now owns 228,255 shares of the company’s stock worth $8,320,000 after buying an additional 174,330 shares during the period. Elkfork Partners LLC bought a new position in Envestnet during the fourth quarter worth approximately $2,921,000. Finally, Janus Capital Management LLC boosted its position in Envestnet by 0.3% in the fourth quarter. Janus Capital Management LLC now owns 3,465,055 shares of the company’s stock worth $122,143,000 after buying an additional 9,816 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.
Envestnet Company Profile
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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