Envestnet, Inc (NYSE:ENV) Given “Buy” Rating at Jefferies Group LLC

Jefferies Group LLC reiterated their buy rating on shares of Envestnet, Inc (NYSE:ENV) in a report released on Friday. Jefferies Group LLC currently has a $48.00 price target on the business services provider’s stock.

Other analysts have also recently issued reports about the company. DA Davidson assumed coverage on Envestnet in a report on Thursday, July 6th. They issued a neutral rating and a $42.00 price target for the company. Zacks Investment Research raised Envestnet from a strong sell rating to a buy rating and set a $43.00 price target for the company in a report on Tuesday, July 11th. William Blair reissued a buy rating on shares of Envestnet in a report on Wednesday, June 28th. BidaskClub raised Envestnet from a hold rating to a buy rating in a report on Tuesday, June 13th. Finally, Royal Bank Of Canada reissued a hold rating and issued a $40.00 price target on shares of Envestnet in a report on Thursday, May 11th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $43.60.

Shares of Envestnet (ENV) traded down 0.52% during midday trading on Friday, reaching $38.40. The company had a trading volume of 92,198 shares. The company’s market capitalization is $1.68 billion. The company’s 50 day moving average price is $37.00 and its 200-day moving average price is $36.10. Envestnet has a 52 week low of $30.80 and a 52 week high of $41.47.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Wednesday, May 10th. The business services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $157.80 million during the quarter, compared to analysts’ expectations of $155.56 million. Envestnet had a positive return on equity of 5.86% and a negative net margin of 9.55%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. On average, equities research analysts predict that Envestnet will post $1.25 earnings per share for the current fiscal year.

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In related news, CFO Peter D’arrigo sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $39.20, for a total value of $294,000.00. Following the completion of the transaction, the chief financial officer now directly owns 19,976 shares of the company’s stock, valued at approximately $783,059.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shelly O’brien sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $35.00, for a total value of $35,000.00. Following the completion of the transaction, the insider now directly owns 11,751 shares of the company’s stock, valued at $411,285. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 3,968 shares of company stock valued at $145,287 and sold 24,246 shares valued at $946,841. Company insiders own 5.58% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ENV. Vanguard Group Inc. increased its position in Envestnet by 4.8% in the first quarter. Vanguard Group Inc. now owns 3,265,731 shares of the business services provider’s stock valued at $105,483,000 after buying an additional 150,179 shares during the last quarter. TimesSquare Capital Management LLC increased its position in Envestnet by 14.1% in the first quarter. TimesSquare Capital Management LLC now owns 2,235,015 shares of the business services provider’s stock valued at $72,191,000 after buying an additional 275,955 shares during the last quarter. Van Berkom & Associates Inc. increased its position in Envestnet by 24.9% in the first quarter. Van Berkom & Associates Inc. now owns 1,519,842 shares of the business services provider’s stock valued at $49,091,000 after buying an additional 303,286 shares during the last quarter. DF Dent & Co. Inc. increased its position in Envestnet by 6.0% in the first quarter. DF Dent & Co. Inc. now owns 1,508,842 shares of the business services provider’s stock valued at $48,736,000 after buying an additional 84,876 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its position in Envestnet by 11.9% in the first quarter. Stephens Investment Management Group LLC now owns 1,350,787 shares of the business services provider’s stock valued at $43,630,000 after buying an additional 143,692 shares during the last quarter. 98.64% of the stock is owned by institutional investors.

About Envestnet

Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.

Analyst Recommendations for Envestnet (NYSE:ENV)

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