Envestnet Inc (ENV) Given Hold Rating at Royal Bank of Canada
Envestnet Inc (NYSE:ENV)‘s stock had its “hold” rating reaffirmed by analysts at Royal Bank of Canada in a report issued on Thursday. They currently have a $40.00 price target on the business services provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 12.83% from the company’s current price.
A number of other analysts have also issued reports on ENV. Jefferies Group LLC reiterated a “buy” rating and set a $48.00 price target on shares of Envestnet in a research note on Friday, March 24th. Zacks Investment Research lowered shares of Envestnet from a “buy” rating to a “hold” rating in a research note on Wednesday, March 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Envestnet has an average rating of “Hold” and an average price target of $36.90.
Envestnet (NYSE:ENV) traded down 0.98% on Thursday, hitting $35.45. 293,699 shares of the stock were exchanged. The stock’s 50 day moving average price is $34.00 and its 200 day moving average price is $35.77. Envestnet has a 52-week low of $30.80 and a 52-week high of $41.47. The firm’s market cap is $1.54 billion.
Envestnet (NYSE:ENV) last issued its quarterly earnings results on Wednesday, May 10th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The company had revenue of $157.80 million for the quarter, compared to analyst estimates of $155.56 million. Envestnet had a negative net margin of 4.97% and a positive return on equity of 3.91%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. Equities research analysts forecast that Envestnet will post $1.27 earnings per share for the current year.
In other news, President William Crager sold 2,352 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $32.32, for a total transaction of $76,016.64. Following the completion of the transaction, the president now directly owns 148,222 shares of the company’s stock, valued at $4,790,535.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Judson Bergman acquired 1,000 shares of the stock in a transaction dated Friday, March 31st. The shares were bought at an average cost of $32.40 per share, with a total value of $32,400.00. Following the completion of the transaction, the chief executive officer now owns 665,259 shares of the company’s stock, valued at approximately $21,554,391.60. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 33,401 shares of company stock valued at $1,172,299. Corporate insiders own 7.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Envestnet during the fourth quarter worth approximately $5,504,000. Global Alpha Capital Management Ltd. increased its position in shares of Envestnet by 23.3% in the third quarter. Global Alpha Capital Management Ltd. now owns 53,000 shares of the business services provider’s stock worth $1,932,000 after buying an additional 10,000 shares in the last quarter. Bamco Inc. NY increased its position in shares of Envestnet by 5.2% in the third quarter. Bamco Inc. NY now owns 70,225 shares of the business services provider’s stock worth $2,560,000 after buying an additional 3,500 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Envestnet during the third quarter worth approximately $536,000. Finally, California State Teachers Retirement System increased its position in shares of Envestnet by 1.0% in the third quarter. California State Teachers Retirement System now owns 87,778 shares of the business services provider’s stock worth $3,200,000 after buying an additional 900 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.
Envestnet Company Profile
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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