Envestnet (NYSE:ENV) Sees Unusually-High Trading Volume

Envestnet, Inc. (NYSE:ENV - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 1,085,842 shares were traded during mid-day trading, an increase of 123% from the previous session's volume of 487,814 shares.The stock last traded at $61.68 and had previously closed at $61.80.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ENV shares. JMP Securities reiterated a "market outperform" rating and issued a $79.00 price objective on shares of Envestnet in a report on Wednesday. StockNews.com upgraded Envestnet from a "sell" rating to a "hold" rating in a report on Monday, March 25th. JPMorgan Chase & Co. upped their price objective on Envestnet from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, February 23rd. Raymond James increased their target price on Envestnet from $52.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, April 2nd. 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 report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Envestnet presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.67.

Envestnet Price Performance

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a fifty day moving average of $54.61 and a two-hundred day moving average of $47.67. The company has a market capitalization of $3.41 billion, a PE ratio of -14.23 and a beta of 1.31.

Envestnet (NYSE:ENV - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $312.24 million. Research analysts anticipate that Envestnet, Inc. will post 1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Envestnet news, Director Lauren Taylor Wolfe acquired 1,670 shares of the company's stock in a transaction on Friday, March 15th. The stock was acquired 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 approximately $221,968,274.29. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Matthew Majoros sold 700 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was 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 approximately $865,867.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Taylor Wolfe bought 1,670 shares of the firm's stock in a transaction dated Friday, March 15th. The stock was purchased at an average cost of $52.99 per share, with a total value of $88,493.30. Following the transaction, the director now directly owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. Company insiders own 8.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Nomura Holdings Inc. bought a new position in shares of Envestnet in the 4th quarter worth approximately $432,000. Quadrature Capital Ltd bought a new position in Envestnet during the 4th quarter valued at approximately $236,000. Vanguard Group Inc. increased its position in Envestnet by 12.9% during 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 buying an additional 687,202 shares in the last quarter. Legal & General Group Plc increased its position in Envestnet by 93.5% during the 4th quarter. Legal & General Group Plc now owns 132,133 shares of the business services provider's stock valued at $6,543,000 after buying an additional 63,856 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new position in Envestnet during the 4th quarter valued at approximately $526,000.

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.