Envestnet (NYSE:ENV) Receives Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Envestnet (NYSE:ENV - Free Report) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $79.00 target price on the business services provider's stock.

A number of other brokerages also recently issued reports on ENV. DA Davidson lifted their price target on shares of Envestnet from $62.00 to $67.00 and gave the company a buy rating in a report on Tuesday, April 2nd. Raymond James boosted their target price on Envestnet from $52.00 to $60.00 and gave the stock an outperform rating in a research report on Tuesday, April 2nd. William Blair reissued an outperform rating on shares of Envestnet in a research note on Wednesday, March 27th. StockNews.com raised Envestnet from a sell rating to a hold rating in a research note on Monday, March 25th. Finally, Royal Bank of Canada increased their target price on Envestnet from $47.00 to $56.00 and gave the company a sector perform rating in a research report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Envestnet currently has a consensus rating of Moderate Buy and a consensus price target of $63.67.

Envestnet Price Performance

Shares of Envestnet stock traded up $1.18 during trading hours on Tuesday, hitting $59.60. The company's stock had a trading volume of 392,276 shares, compared to its average volume of 430,288. The company has a market cap of $3.27 billion, a PE ratio of -13.64 and a beta of 1.31. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. The business has a 50 day moving average price of $53.72 and a two-hundred day moving average price of $47.08. Envestnet has a 12-month low of $33.12 and a 12-month high of $66.50.

Envestnet (NYSE:ENV - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 EPS for the quarter, topping 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 analysts' expectations of $312.24 million. Analysts expect that Envestnet will post 1.82 earnings per share for the current fiscal year.

Insider Activity

In other Envestnet news, insider Matthew Majoros sold 700 shares of the firm'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 of the company's stock, valued at $865,867.04. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the transaction, the insider now directly owns 15,212 shares in the company, valued at $865,867.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of the company's stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the transaction, the director now owns 4,188,871 shares of the company's stock, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. Corporate insiders own 9.20% of the company's stock.

Hedge Funds Weigh In On Envestnet

A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Envestnet by 2.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,280 shares of the business services provider's stock valued at $616,000 after buying an additional 198 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Envestnet by 8.7% during the first quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the business services provider's stock worth $249,000 after purchasing an additional 267 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Envestnet by 2.4% during the first quarter. Rhumbline Advisers now owns 152,849 shares of the business services provider's stock worth $11,378,000 after purchasing an additional 3,542 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Envestnet by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,026 shares of the business services provider's stock valued at $1,491,000 after purchasing an additional 1,909 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in Envestnet by 9.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 29,683 shares of the business services provider's stock worth $2,271,000 after buying an additional 2,517 shares in the last quarter.

About Envestnet

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.