Envestnet, Inc (NYSE:ENV)‘s stock had its “hold” rating reiterated by investment analysts at Royal Bank of Canada in a report released on Thursday, May 11th. They currently have a $40.00 price target on the business services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 4.85% from the company’s previous close.
ENV has been the subject of a number of other research reports. Zacks Investment Research lowered Envestnet from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 25th. Jefferies Group LLC reissued a “buy” rating and issued a $48.00 target price on shares of Envestnet in a research report on Friday, March 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $36.90.
Shares of Envestnet (ENV) opened at 38.15 on Thursday. The stock’s market cap is $1.67 billion. Envestnet has a one year low of $30.80 and a one year high of $41.47. The stock has a 50 day moving average of $36.11 and a 200 day moving average of $35.84.
Envestnet (NYSE:ENV) last issued its earnings results on Wednesday, May 10th. The business services provider reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. Envestnet had a positive return on equity of 5.86% and a negative net margin of 9.55%. The business had revenue of $157.80 million during the quarter, compared to analyst estimates of $155.56 million. During the same quarter in the previous year, the firm earned $0.18 EPS. Envestnet’s revenue was up 19.5% on a year-over-year basis. On average, analysts forecast that Envestnet will post $1.26 EPS for the current year.
In other news, Director Gayle A. Crowell bought 2,238 shares of Envestnet stock in a transaction that occurred on Friday, June 2nd. The stock was bought at an average cost of $37.50 per share, with a total value of $83,925.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President William Crager sold 2,500 shares of the stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $34.64, for a total transaction of $86,600.00. Following the completion of the sale, the president now directly owns 147,858 shares of the company’s stock, valued at $5,121,801.12. The disclosure for this sale can be found here. Over the last three months, insiders purchased 5,244 shares of company stock valued at $186,312 and sold 17,755 shares valued at $579,847. Corporate insiders own 7.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ENV. Peregrine Capital Management LLC acquired a new position in Envestnet during the third quarter valued at $13,775,000. BlackRock Advisors LLC increased its position in Envestnet by 16.8% in the third quarter. BlackRock Advisors LLC now owns 21,996 shares of the business services provider’s stock worth $802,000 after buying an additional 3,158 shares in the last quarter. BlackRock Investment Management LLC increased its position in Envestnet by 0.7% in the third quarter. BlackRock Investment Management LLC now owns 155,376 shares of the business services provider’s stock worth $5,663,000 after buying an additional 1,138 shares in the last quarter. BlackRock Fund Advisors increased its position in Envestnet by 6.7% in the third quarter. BlackRock Fund Advisors now owns 1,064,557 shares of the business services provider’s stock worth $38,803,000 after buying an additional 66,594 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in Envestnet by 2.4% in the third quarter. New York State Common Retirement Fund now owns 68,387 shares of the business services provider’s stock worth $2,493,000 after buying an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.
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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