JMP Securities Reiterates “Market Outperform” Rating for Envestnet (NYSE:ENV)

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

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Envestnet from $44.00 to $45.00 and gave the company a neutral rating in a research note on Friday, February 23rd. DA Davidson boosted their price target on Envestnet from $62.00 to $67.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Royal Bank of Canada boosted their price target on Envestnet from $47.00 to $56.00 and gave the company a sector perform rating in a research note on Friday, February 23rd. Raymond James boosted their price target on Envestnet from $52.00 to $60.00 and gave the company an outperform rating in a research note on Tuesday, April 2nd. Finally, William Blair reiterated an outperform rating on shares of Envestnet in a research note on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $63.67.

Envestnet Trading Up 1.8 %

Shares of NYSE:ENV opened at $63.33 on Wednesday. Envestnet has a 12-month low of $33.12 and a 12-month high of $68.83. The stock has a market cap of $3.47 billion, a PE ratio of -14.49 and a beta of 1.31. The business has a 50 day moving average of $55.04 and a 200-day moving average of $47.91. 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 issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $312.24 million. As a group, equities research analysts forecast that Envestnet will post 1.78 earnings per share for the current year.

Insider Buying and Selling at Envestnet

In other news, Director Lauren Taylor Wolfe acquired 1,670 shares of the stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the completion of the transaction, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, 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 transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Taylor Wolfe purchased 1,670 shares of the stock in a transaction dated Friday, March 15th. The shares were bought 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 of the company’s stock, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. Company insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its holdings in Envestnet by 2.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,280 shares of the business services provider’s stock valued at $616,000 after purchasing an additional 198 shares during the period. PNC Financial Services Group Inc. increased its holdings in Envestnet by 8.7% in 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 purchasing an additional 267 shares during the period. Rhumbline Advisers increased its holdings in Envestnet by 2.4% in the first quarter. Rhumbline Advisers now owns 152,849 shares of the business services provider’s stock valued at $11,378,000 after purchasing an additional 3,542 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Envestnet by 10.5% in 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 during the period. Finally, Great West Life Assurance Co. Can increased its holdings 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 valued at $2,271,000 after purchasing an additional 2,517 shares during the period.

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.