Enfusion (NYSE:ENFN) Shares Down 7.3%

Enfusion, Inc. (NYSE:ENFN)’s share price was down 7.3% on Thursday . The stock traded as low as $8.87 and last traded at $9.06. Approximately 206,612 shares changed hands during trading, a decline of 44% from the average daily volume of 372,112 shares. The stock had previously closed at $9.77.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ENFN shares. Bank of America lifted their target price on shares of Enfusion from $8.00 to $9.00 and gave the company an “underperform” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. lowered shares of Enfusion from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $11.00 to $9.00 in a research report on Tuesday, January 30th. Finally, The Goldman Sachs Group lowered shares of Enfusion from a “neutral” rating to a “sell” rating and decreased their target price for the company from $9.00 to $8.00 in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Enfusion currently has a consensus rating of “Hold” and a consensus price target of $9.33.

Enfusion Price Performance

The company has a market capitalization of $1.19 billion, a P/E ratio of 116.01, a P/E/G ratio of 2.79 and a beta of 0.97. The stock’s 50 day simple moving average is $9.21 and its two-hundred day simple moving average is $9.17.

Enfusion (NYSE:ENFN) last announced its earnings results on Tuesday, March 12th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $46.49 million during the quarter, compared to the consensus estimate of $45.56 million. Enfusion had a return on equity of 10.30% and a net margin of 3.45%. As a group, equities research analysts expect that Enfusion, Inc. will post 0.07 earnings per share for the current year.

Institutional Investors Weigh In On Enfusion

A number of institutional investors and hedge funds have recently modified their holdings of ENFN. Brown Capital Management LLC raised its stake in shares of Enfusion by 6.5% during the fourth quarter. Brown Capital Management LLC now owns 11,817,661 shares of the company’s stock worth $114,631,000 after buying an additional 724,502 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Enfusion by 17.2% during the third quarter. Vanguard Group Inc. now owns 3,487,815 shares of the company’s stock worth $31,286,000 after buying an additional 512,479 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Enfusion by 17.2% during the third quarter. New York State Common Retirement Fund now owns 1,618,803 shares of the company’s stock worth $14,521,000 after buying an additional 237,841 shares during the last quarter. Scalar Gauge Management LLC bought a new stake in Enfusion in the fourth quarter valued at approximately $1,993,000. Finally, Wasatch Advisors LP increased its stake in Enfusion by 34.2% in the first quarter. Wasatch Advisors LP now owns 792,083 shares of the company’s stock valued at $7,327,000 after purchasing an additional 201,771 shares in the last quarter. 81.05% of the stock is owned by institutional investors.

Enfusion Company Profile

Enfusion, Inc provides software-as-a-service solutions for investment management industry in the United States, Europe, the Middle East, Africa, and the Asia Pacific. The company provides Portfolio Management System, which generates a real-time investment book of record that consists of valuation and risk tools, which allows users to analyze aggregated or decomposed portfolio data for chief investment officers (CIOs) and portfolio managers; and Order and Execution Management System that enables portfolio managers, traders, compliance teams, and analysts to electronically communicate trade orders for a variety of asset classes, manage trade orders, and systemically enforce trading regulations and internal guidelines.