Envestnet (NYSE:ENV) Raised to Hold at Jefferies Financial Group

Envestnet (NYSE:ENV - Get Free Report) was upgraded by investment analysts at Jefferies Financial Group from an "underperform" rating to a "hold" rating in a research report issued on Wednesday, MarketBeat reports. The brokerage currently has a $59.00 price objective on the business services provider's stock, up from their previous price objective of $47.00. Jefferies Financial Group's price objective indicates a potential downside of 7.35% from the company's previous close.

Several other analysts have also weighed in on ENV. JMP Securities reiterated a "market outperform" rating and issued a $79.00 price objective on shares of Envestnet in a research note on Wednesday, April 17th. JPMorgan Chase & Co. increased their price objective on shares of Envestnet from $44.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, February 23rd. Raymond James boosted their target price on Envestnet from $52.00 to $60.00 and gave the company an "outperform" rating in a research report on Tuesday, April 2nd. Royal Bank of Canada increased their price target on Envestnet from $47.00 to $56.00 and gave the stock a "sector perform" rating in a report on Friday, February 23rd. Finally, William Blair restated an "outperform" rating on shares of Envestnet in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Envestnet presently has an average rating of "Hold" and a consensus price target of $64.14.

Envestnet Trading Up 1.5 %

ENV traded up $0.92 during trading on Wednesday, reaching $63.68. 697,727 shares of the stock traded hands, compared to its average volume of 489,779. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock's 50-day moving average is $58.05 and its 200 day moving average is $49.90. Envestnet has a 12 month low of $33.12 and a 12 month high of $68.83. The stock has a market capitalization of $3.49 billion, a PE ratio of -14.57 and a beta of 1.26.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Envestnet

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Envestnet by 6.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,499 shares of the business services provider's stock valued at $6,462,000 after acquiring an additional 7,924 shares during the period. Illinois Municipal Retirement Fund purchased a new position in Envestnet in the fourth quarter valued at approximately $1,369,000. Qube Research & Technologies Ltd bought a new position in Envestnet during the third quarter valued at $5,604,000. Handelsbanken Fonder AB raised its stake in shares of Envestnet by 156.0% in the fourth quarter. Handelsbanken Fonder AB now owns 17,723 shares of the business services provider's stock valued at $878,000 after buying an additional 10,800 shares during the period. Finally, Van Berkom & Associates Inc. lifted its position in shares of Envestnet by 33.2% during 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 buying an additional 438,994 shares during 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.