Envestnet (ENV) Downgraded by TheStreet

Share on StockTwits

TheStreet downgraded shares of Envestnet (NYSE:ENV) from a b- rating to a c+ rating in a report released on Wednesday.

Several other research firms have also recently commented on ENV. Zacks Investment Research raised Envestnet from a hold rating to a buy rating and set a $69.00 price objective on the stock in a research report on Thursday, October 4th. UBS Group increased their price objective on Envestnet from $62.00 to $68.00 and gave the company a buy rating in a research report on Friday, August 10th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Envestnet in a research report on Wednesday, July 18th. Finally, DA Davidson increased their price objective on Envestnet to $56.00 and gave the company an average rating in a research report on Thursday, July 5th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $63.71.

Envestnet stock opened at $56.12 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.41 and a current ratio of 1.41. Envestnet has a one year low of $47.45 and a one year high of $64.80. The firm has a market cap of $2.77 billion, a P/E ratio of 64.27, a price-to-earnings-growth ratio of 3.44 and a beta of 1.94.

Envestnet (NYSE:ENV) last released its quarterly earnings data on Tuesday, August 7th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. Envestnet had a return on equity of 10.75% and a net margin of 2.50%. The company had revenue of $201.12 million for the quarter, compared to analysts’ expectations of $199.52 million. As a group, equities analysts anticipate that Envestnet will post 1.25 EPS for the current fiscal year.

In other Envestnet news, insider Shelly O’brien sold 1,882 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $58.60, for a total value of $110,285.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Anil Arora sold 9,900 shares of the firm’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $59.80, for a total value of $592,020.00. Following the completion of the transaction, the insider now directly owns 86,563 shares in the company, valued at $5,176,467.40. The disclosure for this sale can be found here. Insiders sold 68,196 shares of company stock worth $4,108,654 over the last three months. Insiders own 5.49% of the company’s stock.

A number of large investors have recently made changes to their positions in ENV. BlackRock Inc. lifted its position in shares of Envestnet by 16.7% during the 2nd quarter. BlackRock Inc. now owns 3,150,212 shares of the business services provider’s stock valued at $173,104,000 after buying an additional 451,887 shares in the last quarter. Oak Ridge Investments LLC lifted its position in shares of Envestnet by 22.1% during the 2nd quarter. Oak Ridge Investments LLC now owns 341,535 shares of the business services provider’s stock valued at $18,767,000 after buying an additional 61,746 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Envestnet by 6.9% during the 2nd quarter. Renaissance Technologies LLC now owns 509,392 shares of the business services provider’s stock valued at $27,991,000 after buying an additional 33,100 shares in the last quarter. Van Berkom & Associates Inc. lifted its position in shares of Envestnet by 0.7% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,297,378 shares of the business services provider’s stock valued at $71,291,000 after buying an additional 9,308 shares in the last quarter. Finally, Natixis lifted its position in shares of Envestnet by 49.0% during the 2nd quarter. Natixis now owns 37,250 shares of the business services provider’s stock valued at $2,047,000 after buying an additional 12,245 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

About Envestnet

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 business 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.

Featured Story: Penny Stocks, Risk and Reward Factors

Analyst Recommendations for Envestnet (NYSE:ENV)

Receive News & Ratings for Envestnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envestnet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply