Envestnet (NYSE:ENV) Given Market Outperform Rating at JMP Securities

Envestnet (NYSE:ENV)‘s stock had its “market outperform” rating reiterated by JMP Securities in a report issued on Wednesday, Benzinga reports. They presently have a $79.00 price objective on the business services provider’s stock. JMP Securities’ target price indicates a potential upside of 27.91% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. William Blair restated an “outperform” rating on shares of Envestnet in a research report on Wednesday, March 27th. DA Davidson raised their price objective on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. raised their price objective on shares of Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. StockNews.com upgraded shares of Envestnet from a “sell” rating to a “hold” rating in a research report on Monday, March 25th. Finally, Royal Bank of Canada lifted their target price on shares of Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Envestnet presently has a consensus rating of “Moderate Buy” and an average target price of $63.67.

Envestnet Price Performance

NYSE ENV traded down $0.04 on Wednesday, hitting $61.76. The stock had a trading volume of 1,241,046 shares, compared to its average volume of 488,980. Envestnet has a 52-week low of $33.12 and a 52-week high of $68.83. 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 company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -14.25 and a beta of 1.31. The firm has a 50-day moving average of $54.40 and a 200-day moving average of $47.57.

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

Insider Activity

In related 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, with a total value of $88,493.30. Following the purchase, the director now owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In other Envestnet news, insider Matthew Majoros sold 700 shares of Envestnet stock in a transaction dated 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 directly owns 15,212 shares of the company’s stock, valued at $865,867.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Taylor Wolfe acquired 1,670 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were bought at an average cost of $52.99 per share, with a total value of $88,493.30. Following the completion of the acquisition, the director now directly owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The disclosure for this purchase can be found here. Insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ENV. Mirae Asset Global Investments Co. Ltd. grew its position in Envestnet by 6.5% during the fourth 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 buying an additional 7,924 shares during the period. Van Berkom & Associates Inc. boosted its position in shares of Envestnet by 33.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock worth $77,603,000 after purchasing an additional 438,994 shares during the period. Cambiar Investors LLC boosted its position in shares of Envestnet by 65.5% in the fourth quarter. Cambiar Investors LLC now owns 57,652 shares of the business services provider’s stock worth $2,855,000 after purchasing an additional 22,823 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Envestnet in the third quarter worth approximately $5,604,000. Finally, Wolverine Asset Management LLC bought a new position in shares of Envestnet in the third quarter worth approximately $1,206,000.

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.