Envestnet (NYSE:ENV) Downgraded by StockNews.com

StockNews.com cut shares of Envestnet (NYSE:ENV) from a hold rating to a sell rating in a research note issued to investors on Monday.

Several other brokerages also recently issued reports on ENV. JMP Securities reiterated a market outperform rating and set a $79.00 price objective on shares of Envestnet in a research report on Wednesday, April 17th. DA Davidson boosted their price objective on Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Raymond James boosted their price objective on Envestnet from $52.00 to $60.00 and gave the stock an outperform rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their price objective on Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a research report on Friday, February 23rd. Finally, William Blair reiterated an outperform rating on shares of Envestnet in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $63.67.

Envestnet Stock Performance

Shares of ENV stock opened at $61.68 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53. The business has a 50 day moving average of $55.04 and a two-hundred day moving average of $48.02. Envestnet has a 52 week low of $33.12 and a 52 week high of $68.83. The company has a market cap of $3.38 billion, a P/E ratio of -14.11 and a beta of 1.31.

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

Insider Buying and Selling

In other news, Director Lauren Taylor Wolfe bought 1,670 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Envestnet news, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.92, for a total value of $39,844.00. Following the transaction, the insider now owns 15,212 shares of the company’s stock, valued at $865,867.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of the company’s stock in a transaction on Friday, March 15th. The stock was bought at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the acquisition, the director now directly owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. 8.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ENV. Hsbc Holdings PLC increased its holdings in shares of Envestnet by 20,229.7% in the fourth quarter. Hsbc Holdings PLC now owns 1,824,997 shares of the business services provider’s stock valued at $90,027,000 after buying an additional 1,816,020 shares in the last quarter. Vanguard Group Inc. raised its stake in Envestnet by 12.9% during the 4th quarter. Vanguard Group Inc. now owns 6,015,454 shares of the business services provider’s stock valued at $297,885,000 after purchasing an additional 687,202 shares during the period. Norges Bank acquired a new stake in Envestnet during the 4th quarter valued at $25,319,000. Schroder Investment Management Group acquired a new stake in Envestnet during the 4th quarter valued at $21,829,000. Finally, Van Berkom & Associates Inc. raised its stake in Envestnet by 33.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock valued at $77,603,000 after purchasing an additional 438,994 shares during the period.

Envestnet Company Profile

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.