DA Davidson Brokers Raise Earnings Estimates for Envestnet Inc (ENV)

Envestnet Inc (NYSE:ENV) – Equities research analysts at DA Davidson boosted their FY2018 earnings per share estimates for shares of Envestnet in a research note issued on Monday. DA Davidson analyst P. Heckmann now anticipates that the business services provider will earn $1.38 per share for the year, up from their previous forecast of $1.16.

A number of other analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Envestnet from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a report on Tuesday, January 9th. UBS Group cut their price objective on shares of Envestnet from $63.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $62.00 price objective (up previously from $52.00) on shares of Envestnet in a report on Thursday, November 9th. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Envestnet in a report on Tuesday, November 7th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $55.00.

Envestnet (ENV) traded up $0.45 during mid-day trading on Thursday, reaching $54.25. 34,747 shares of the company’s stock were exchanged, compared to its average volume of 225,210. The firm has a market cap of $2,286.18, a P/E ratio of 66.15, a price-to-earnings-growth ratio of 2.64 and a beta of 1.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.90 and a current ratio of 0.90. Envestnet has a 12 month low of $30.80 and a 12 month high of $55.45.

Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Envestnet by 133.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock valued at $139,000 after buying an additional 1,591 shares during the period. Ameritas Investment Partners Inc. boosted its position in Envestnet by 5.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock valued at $150,000 after buying an additional 204 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in Envestnet in the 4th quarter valued at approximately $175,000. Zions Bancorporation purchased a new position in Envestnet in the 3rd quarter valued at approximately $181,000. Finally, Macquarie Group Ltd. purchased a new position in Envestnet in the 4th quarter valued at approximately $194,000. 92.65% of the stock is owned by institutional investors.

In related news, insider Shelly O’brien sold 1,500 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $48.13, for a total transaction of $72,195.00. Following the completion of the transaction, the insider now owns 37,686 shares of the company’s stock, valued at approximately $1,813,827.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joshua Mayer sold 30,800 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $52.06, for a total transaction of $1,603,448.00. Following the transaction, the chief operating officer now directly owns 51,207 shares of the company’s stock, valued at approximately $2,665,836.42. The disclosure for this sale can be found here. Insiders have sold a total of 217,694 shares of company stock valued at $10,985,216 in the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

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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.

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