JMP Securities Increases Envestnet (ENV) Price Target to $72.00

Envestnet (NYSE:ENV) had its price target boosted by equities research analysts at JMP Securities from $67.00 to $72.00 in a research note issued to investors on Friday. The brokerage presently has a “market outperform” rating on the business services provider’s stock. JMP Securities’ price objective suggests a potential upside of 8.40% from the stock’s previous close.

Several other research analysts also recently commented on ENV. Zacks Investment Research downgraded Envestnet from a “hold” rating to a “sell” rating in a report on Friday, March 1st. TheStreet raised Envestnet from a “c+” rating to a “b” rating in a research note on Friday, February 22nd. JPMorgan Chase & Co. raised their target price on Envestnet from $64.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday. ValuEngine cut Envestnet from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. Finally, UBS Group cut their target price on Envestnet from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $64.89.

Shares of ENV traded up $1.94 during trading hours on Friday, hitting $66.42. The company had a trading volume of 5,765 shares, compared to its average volume of 260,379. The company has a market cap of $3.10 billion, a P/E ratio of 53.25, a P/E/G ratio of 2.56 and a beta of 1.89. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. Envestnet has a 52-week low of $46.57 and a 52-week high of $65.33.

Envestnet (NYSE:ENV) last released its quarterly earnings data on Thursday, February 21st. The business services provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.18. The firm had revenue of $210.08 million for the quarter, compared to the consensus estimate of $210.52 million. Envestnet had a return on equity of 11.51% and a net margin of 0.71%. Equities research analysts forecast that Envestnet will post 1.53 earnings per share for the current fiscal year.

In other Envestnet news, insider Anil Arora sold 567 shares of Envestnet stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $54.74, for a total transaction of $31,037.58. Following the sale, the insider now directly owns 64,745 shares of the company’s stock, valued at approximately $3,544,141.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Joshua Mayer sold 1,162 shares of Envestnet stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $61.15, for a total value of $71,056.30. Following the sale, the chief operating officer now directly owns 36,222 shares in the company, valued at $2,214,975.30. The disclosure for this sale can be found here. Insiders sold 9,462 shares of company stock worth $521,883 over the last three months. 5.49% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in Envestnet during the 4th quarter valued at approximately $25,851,000. Dimensional Fund Advisors LP boosted its position in Envestnet by 19.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 434,540 shares of the business services provider’s stock valued at $21,375,000 after acquiring an additional 71,411 shares in the last quarter. Amalgamated Bank bought a new stake in Envestnet during the 4th quarter valued at approximately $319,000. Legal & General Group Plc boosted its position in Envestnet by 7.9% during the 4th quarter. Legal & General Group Plc now owns 17,292 shares of the business services provider’s stock valued at $851,000 after acquiring an additional 1,262 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Envestnet by 0.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 63,323 shares of the business services provider’s stock valued at $3,115,000 after acquiring an additional 233 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Envestnet Company Profile

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.

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