Envestnet’s (ENV) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Envestnet (NYSE:ENV) in a research report report published on Wednesday morning, Benzinga reports. JMP Securities currently has a $79.00 target price on the business services provider’s stock.

ENV has been the subject of a number of other reports. William Blair restated an outperform rating on shares of Envestnet in a report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price objective on shares of Envestnet from $44.00 to $45.00 and gave the stock a neutral rating in a report on Friday, February 23rd. DA Davidson lifted their target price on shares of Envestnet from $62.00 to $67.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. StockNews.com raised shares of Envestnet from a sell rating to a hold rating in a research report on Monday, March 25th. Finally, Raymond James lifted their target price on shares of Envestnet from $52.00 to $60.00 and gave the stock an outperform rating in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Envestnet presently has a consensus rating of Moderate Buy and an average price target of $63.67.

Envestnet Price Performance

Shares of NYSE ENV opened at $62.19 on Wednesday. Envestnet has a twelve month low of $33.12 and a twelve month high of $68.83. The firm has a market cap of $3.41 billion, a P/E ratio of -14.23 and a beta of 1.31. The company has a 50 day moving average of $54.61 and a 200 day moving average of $47.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.53.

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

Insider Activity

In other news, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the sale, the insider now owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Envestnet news, Director Lauren Taylor Wolfe acquired 1,670 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $52.99 per share, with a total value of $88,493.30. Following the transaction, the director now directly owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Matthew Majoros sold 700 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the sale, the insider now directly owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The disclosure for this sale can be found here. Insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in Envestnet by 2.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,280 shares of the business services provider’s stock worth $616,000 after buying an additional 198 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Envestnet by 1.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 14,478 shares of the business services provider’s stock worth $764,000 after buying an additional 199 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Envestnet by 8.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the business services provider’s stock worth $249,000 after buying an additional 267 shares during the period. Sei Investments Co. boosted its holdings in Envestnet by 0.8% in the 2nd quarter. Sei Investments Co. now owns 36,991 shares of the business services provider’s stock worth $2,195,000 after buying an additional 277 shares during the period. Finally, Mariner LLC boosted its holdings in Envestnet by 2.5% in the 1st quarter. Mariner LLC now owns 12,374 shares of the business services provider’s stock worth $921,000 after buying an additional 306 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.