Envestnet (NYSE:ENV) Given New $64.00 Price Target at Royal Bank of Canada

Envestnet (NYSE:ENV) had its price target lifted by Royal Bank of Canada from $56.00 to $64.00 in a research note released on Wednesday, Benzinga reports. They currently have a sector perform rating on the business services provider’s stock.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Envestnet from $44.00 to $45.00 and gave the company a neutral rating in a research report on Friday, February 23rd. Jefferies Financial Group upgraded Envestnet from an underperform rating to a hold rating and lifted their price objective for the company from $47.00 to $59.00 in a report on Wednesday. Raymond James increased their target price on Envestnet from $52.00 to $60.00 and gave the stock an outperform rating in a research note on Tuesday, April 2nd. JMP Securities restated a market outperform rating and set a $79.00 target price on shares of Envestnet in a report on Wednesday, April 17th. Finally, StockNews.com cut shares of Envestnet from a hold rating to a sell rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Envestnet presently has a consensus rating of Hold and a consensus price target of $64.14.

Envestnet Trading Up 4.0 %

Shares of Envestnet stock traded up $2.52 on Wednesday, hitting $66.28. 697,277 shares of the company’s stock traded hands, compared to its average volume of 492,084. Envestnet has a one year low of $33.12 and a one year high of $68.83. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $3.63 billion, a PE ratio of -14.57 and a beta of 1.26. The firm’s 50-day moving average price is $58.05 and its two-hundred day moving average price is $49.90.

Envestnet (NYSE:ENV) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate 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, research analysts expect that Envestnet will post 1.78 EPS for the current fiscal year.

Insider Activity at Envestnet

In other news, insider Matthew Majoros sold 700 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Matthew Majoros sold 700 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 15,212 shares of the company’s stock, valued at approximately $865,867.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Taylor Wolfe bought 1,670 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average cost of $52.99 per share, with a total value of $88,493.30. Following the completion of the purchase, 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 insiders.

Institutional Investors Weigh In On Envestnet

A number of institutional investors and hedge funds have recently modified their holdings of ENV. New York State Common Retirement Fund increased its position in Envestnet by 2.1% during the third quarter. New York State Common Retirement Fund now owns 20,063 shares of the business services provider’s stock worth $883,000 after buying an additional 409 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Envestnet by 2.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 28,201 shares of the business services provider’s stock worth $1,633,000 after acquiring an additional 543 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Envestnet by 2.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 28,271 shares of the business services provider’s stock valued at $1,637,000 after acquiring an additional 619 shares during the period. YHB Investment Advisors Inc. bought a new stake in Envestnet in the 1st quarter valued at $38,000. Finally, Texas Permanent School Fund Corp lifted its holdings in Envestnet by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 43,529 shares of the business services provider’s stock valued at $2,521,000 after purchasing an additional 688 shares during the last quarter.

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.