Envestnet's (ENV) "Market Outperform" Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Envestnet (NYSE:ENV - Free Report) in a report published on Wednesday, Benzinga reports. The firm currently has a $79.00 price objective on the business services provider's stock.

Several other research firms also recently issued reports on ENV. William Blair reaffirmed an outperform rating on shares of Envestnet in a report on Wednesday, March 27th. JPMorgan Chase & Co. increased their price target on Envestnet from $44.00 to $45.00 and gave the company a neutral rating in a research note on Friday, February 23rd. DA Davidson increased their price target on Envestnet from $62.00 to $67.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Raymond James increased their price target on Envestnet from $52.00 to $60.00 and gave the company an outperform rating in a research note on Tuesday, April 2nd. Finally, StockNews.com raised Envestnet from a sell rating to a hold rating in a research note on Monday, March 25th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Envestnet currently has a consensus rating of Moderate Buy and an average target price of $63.67.

Envestnet Price Performance

NYSE ENV traded up $0.39 during trading hours on Wednesday, reaching $62.19. 1,639,066 shares of the company's stock were exchanged, compared to its average volume of 495,763. The stock has a market cap of $3.41 billion, a PE ratio of -14.23 and a beta of 1.31. Envestnet has a one year low of $33.12 and a one year high of $68.83. The firm has a fifty day moving average of $54.61 and a 200-day moving average of $47.67. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Envestnet (NYSE:ENV - Get Free Report) last released 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 business had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. On average, equities research analysts predict that Envestnet will post 1.78 earnings per share for the current fiscal year.

Insider Activity at Envestnet

In other news, Director Lauren Taylor Wolfe bought 1,670 shares of the stock in a transaction on Friday, March 15th. The stock was purchased at an average price of $52.99 per share, for a total transaction of $88,493.30. Following the acquisition, the director now owns 4,188,871 shares in the company, valued at $221,968,274.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Envestnet news, insider Matthew Majoros sold 700 shares of the 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 completion of the transaction, the insider now owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lauren Taylor Wolfe bought 1,670 shares of the stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $52.99 per share, with a total value of $88,493.30. Following the acquisition, the director now owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. 8.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Envestnet

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of 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 acquiring an additional 687,202 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Envestnet by 20,229.7% in the 4th quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider's stock valued at $90,027,000 after acquiring an additional 1,816,020 shares in the last quarter. Van Berkom & Associates Inc. grew its holdings in shares of Envestnet by 33.2% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider's stock valued at $77,603,000 after acquiring an additional 438,994 shares in the last quarter. State Street Corp grew its holdings in shares of Envestnet by 2.7% in the 1st quarter. State Street Corp now owns 1,713,638 shares of the business services provider's stock valued at $127,563,000 after acquiring an additional 44,600 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in shares of Envestnet by 14.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,651,081 shares of the business services provider's stock valued at $81,762,000 after acquiring an additional 207,632 shares in the last quarter.

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.