Envestnet (NYSE:ENV) Sees Large Volume Increase

Envestnet, Inc. (NYSE:ENV) saw unusually-high trading volume on Wednesday . Approximately 1,085,842 shares changed hands during mid-day trading, an increase of 123% from the previous session’s volume of 487,814 shares.The stock last traded at $61.68 and had previously closed at $61.80.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ENV shares. Royal Bank of Canada lifted their price objective on Envestnet from $47.00 to $56.00 and gave the company a “sector perform” rating in a research report on Friday, February 23rd. DA Davidson increased their price objective on shares of Envestnet from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. JMP Securities reissued a “market outperform” rating and issued a $79.00 price objective on shares of Envestnet in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Finally, StockNews.com raised shares of Envestnet from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Envestnet has an average rating of “Moderate Buy” and an average target price of $63.67.

Envestnet Price Performance

The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -14.13 and a beta of 1.31. The company has a 50-day moving average price of $54.40 and a 200-day moving average price of $47.57. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90.

Envestnet (NYSE:ENV) last announced its quarterly 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. The firm had revenue of $317.63 million for the quarter, compared to analyst estimates of $312.24 million. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. On average, equities research analysts expect that Envestnet, Inc. will post 1.78 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its position in shares of 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 purchasing an additional 198 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Envestnet by 8.7% during the first quarter. PNC Financial Services Group Inc. now owns 3,346 shares of the business services provider’s stock valued at $249,000 after acquiring an additional 267 shares during the period. Rhumbline Advisers raised its holdings in shares of Envestnet by 2.4% during the first quarter. Rhumbline Advisers now owns 152,849 shares of the business services provider’s stock valued at $11,378,000 after acquiring an additional 3,542 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Envestnet by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,026 shares of the business services provider’s stock valued at $1,491,000 after purchasing an additional 1,909 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in Envestnet by 9.3% in the first quarter. Great West Life Assurance Co. Can now owns 29,683 shares of the business services provider’s stock worth $2,271,000 after acquiring an additional 2,517 shares in the last quarter.

About Envestnet

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.