Envestnet (NYSE:ENV) had its price target reduced by investment analysts at Buckingham Research from $71.00 to $68.00 in a research report issued on Friday, Stock Target Advisor reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Buckingham Research’s target price suggests a potential upside of 5.52% from the stock’s current price.
Several other analysts have also recently weighed in on the company. Zacks Investment Research cut Envestnet from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. DA Davidson raised Envestnet from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a report on Tuesday, October 1st. ValuEngine cut Envestnet from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Raymond James lifted their price target on Envestnet from $82.00 to $83.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $74.00.
NYSE:ENV traded up $1.24 during mid-day trading on Friday, hitting $64.44. 762,836 shares of the stock were exchanged, compared to its average volume of 327,360. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 51.55, a price-to-earnings-growth ratio of 2.80 and a beta of 1.76. The firm’s 50-day simple moving average is $59.77 and its 200 day simple moving average is $64.58. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.54 and a current ratio of 0.54. Envestnet has a fifty-two week low of $46.57 and a fifty-two week high of $73.94.
In other Envestnet news, CFO Peter D’arrigo sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $62.81, for a total transaction of $314,050.00. Following the transaction, the chief financial officer now owns 57,747 shares in the company, valued at approximately $3,627,089.07. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider William Crager sold 18,500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $58.13, for a total value of $1,075,405.00. Following the transaction, the insider now owns 243,512 shares in the company, valued at approximately $14,155,352.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,375 shares of company stock worth $6,795,807. Corporate insiders own 4.97% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ENV. TRUE Private Wealth Advisors bought a new position in Envestnet during the 2nd quarter worth $27,000. DekaBank Deutsche Girozentrale bought a new position in shares of Envestnet in the 2nd quarter valued at $34,000. Hudock Capital Group LLC bought a new position in shares of Envestnet in the 2nd quarter valued at $46,000. Marshall Wace LLP bought a new position in shares of Envestnet in the 1st quarter valued at $50,000. Finally, SRS Capital Advisors Inc. bought a new position in shares of Envestnet in the 2nd quarter valued at $83,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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