Envestnet (NYSE:ENV) Rating Lowered to Sell at StockNews.com

Envestnet (NYSE:ENV - Get Free Report) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a report issued on Monday.

Several other research firms also recently weighed in on ENV. DA Davidson lifted their target price on Envestnet from $62.00 to $67.00 and gave the company a "buy" rating in a research report on Tuesday, April 2nd. JMP Securities reaffirmed a "market outperform" rating and set a $79.00 target price on shares of Envestnet in a research note on Wednesday, April 17th. William Blair reissued an "outperform" rating on shares of Envestnet in a research report on Wednesday, March 27th. Raymond James upped their price objective on Envestnet from $52.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada lifted their target price on Envestnet from $47.00 to $56.00 and gave the company a "sector perform" rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.67.

Envestnet Trading Down 2.6 %

Shares of Envestnet stock traded down $1.65 on Monday, reaching $61.68. The company had a trading volume of 581,012 shares, compared to its average volume of 505,905. The firm's 50 day moving average price is $55.04 and its two-hundred day moving average price is $48.02. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. Envestnet has a 52-week low of $33.12 and a 52-week high of $68.83. The firm has a market cap of $3.38 billion, a PE ratio of -14.11 and a beta of 1.31.

Envestnet (NYSE:ENV - Get Free Report) last announced its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.10. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. The company had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. Sell-side analysts predict that Envestnet will post 1.78 earnings per share for the current fiscal year.

Insider Activity at Envestnet

In other news, insider Matthew Majoros sold 700 shares of the firm's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the sale, the insider now owns 15,212 shares of the company's stock, valued at approximately $865,867.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Matthew Majoros sold 700 shares of the company's stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total value of $39,844.00. Following the completion of the transaction, the insider now owns 15,212 shares in the company, valued at approximately $865,867.04. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the purchase, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The disclosure for this purchase can be found here. 8.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Envestnet

A number of large investors have recently made changes to their positions in the company. Nomura Holdings Inc. acquired a new position in Envestnet during the fourth quarter worth approximately $432,000. Quadrature Capital Ltd acquired a new position in shares of Envestnet in the 4th quarter valued at $236,000. Vanguard Group Inc. raised its position in Envestnet by 12.9% in the 4th quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider's stock valued at $297,885,000 after purchasing an additional 687,202 shares during the last quarter. One Fin Capital Management LP purchased a new stake in Envestnet in the 4th quarter valued at $14,336,000. Finally, Comerica Bank boosted its stake in Envestnet by 8.5% during the 4th quarter. Comerica Bank now owns 32,788 shares of the business services provider's stock worth $1,624,000 after purchasing an additional 2,558 shares during the period.

Envestnet Company Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.

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