Envestnet, Inc (ENV) Stock Rating Reaffirmed by William Blair
Envestnet, Inc (NYSE:ENV)‘s stock had its “ourperform” rating restated by stock analysts at William Blair in a research report issued to clients and investors on Tuesday.
A number of other research firms have also recently issued reports on ENV. JMP Securities lifted their price target on shares of Envestnet from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday. They noted that the move was a valuation call. Stifel Nicolaus reissued a “buy” rating and issued a $52.00 price target (up previously from $45.00) on shares of Envestnet in a research note on Thursday, August 10th. Royal Bank Of Canada reissued a “hold” rating on shares of Envestnet in a research note on Monday, September 11th. Zacks Investment Research cut shares of Envestnet from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Finally, DA Davidson began coverage on shares of Envestnet in a research note on Thursday, July 6th. They issued a “neutral” rating and a $42.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Envestnet presently has a consensus rating of “Hold” and a consensus target price of $47.00.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The company had revenue of $167.50 million during the quarter, compared to analyst estimates of $164.04 million. During the same period in the prior year, the business posted $0.21 EPS. Envestnet’s revenue was up 18.0% compared to the same quarter last year.
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In other Envestnet news, insider Scott D. Grinis sold 15,000 shares of Envestnet stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $39.21, for a total transaction of $588,150.00. Following the sale, the insider now owns 226,454 shares of the company’s stock, valued at approximately $8,879,261.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Peter D’arrigo sold 7,500 shares of Envestnet stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $39.20, for a total transaction of $294,000.00. Following the sale, the chief financial officer now directly owns 19,976 shares in the company, valued at approximately $783,059.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,718 shares of company stock worth $1,420,284. 5.58% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Envestnet by 233.3% during the 1st quarter. BlackRock Inc. now owns 4,093 shares of the business services provider’s stock worth $111,000 after purchasing an additional 2,865 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Envestnet during the 1st quarter worth $116,000. BNP Paribas Arbitrage SA boosted its stake in Envestnet by 113.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,448 shares of the business services provider’s stock worth $126,000 after purchasing an additional 1,835 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Envestnet by 13.0% during the 2nd quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock worth $130,000 after purchasing an additional 379 shares during the last quarter. Finally, Parallel Advisors LLC acquired a new stake in Envestnet during the 1st quarter worth $131,000. 95.51% of the stock is currently owned by institutional investors.
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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