Envestnet Inc (NYSE:ENV) – Analysts at DA Davidson raised their Q1 2018 earnings estimates for Envestnet in a report released on Monday. DA Davidson analyst P. Heckmann now anticipates that the business services provider will earn $0.21 per share for the quarter, up from their prior forecast of $0.20. DA Davidson also issued estimates for Envestnet’s Q2 2018 earnings at $0.33 EPS, Q3 2018 earnings at $0.38 EPS and Q4 2018 earnings at $0.46 EPS.
Other equities research analysts have also recently issued research reports about the stock. Jefferies Group increased their target price on shares of Envestnet from $47.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating and set a $62.00 target price (up previously from $52.00) on shares of Envestnet in a research report on Thursday, November 9th. UBS Group decreased their target price on shares of Envestnet from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, November 17th. Zacks Investment Research cut shares of Envestnet from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of Envestnet in a research report on Tuesday, November 7th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $55.00.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Envestnet by 133.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock worth $139,000 after buying an additional 1,591 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Envestnet in the fourth quarter worth $175,000. Zions Bancorporation purchased a new position in shares of Envestnet in the third quarter worth $181,000. Ameritas Investment Partners Inc. raised its holdings in shares of Envestnet by 5.7% in the second quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock worth $150,000 after buying an additional 204 shares during the last quarter. Finally, Personal Capital Advisors Corp purchased a new position in shares of Envestnet in the third quarter worth $203,000. 92.65% of the stock is owned by institutional investors and hedge funds.
In other Envestnet news, insider Shelly O’brien sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $53.06, for a total value of $159,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anil Arora sold 7,109 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.80, for a total transaction of $389,573.20. Following the completion of the transaction, the insider now directly owns 96,386 shares of the company’s stock, valued at approximately $5,281,952.80. The disclosure for this sale can be found here. Insiders have sold 217,694 shares of company stock valued at $10,985,216 in the last three months. 5.58% of the stock is currently owned by corporate insiders.
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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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