Envestnet (ENV) Sets New 12-Month High at $72.44

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Envestnet Inc (NYSE:ENV) reached a new 52-week high during trading on Friday . The stock traded as high as $72.44 and last traded at $72.41, with a volume of 6537 shares traded. The stock had previously closed at $71.17.

Several equities research analysts have commented on the company. Zacks Investment Research lowered Envestnet from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. William Blair reaffirmed an “outperform” rating on shares of Envestnet in a research note on Thursday, March 14th. TheStreet raised Envestnet from a “c+” rating to a “b” rating in a research note on Friday, February 22nd. JMP Securities upped their target price on Envestnet from $67.00 to $72.00 and gave the stock a “market outperform” rating in a research note on Friday, March 15th. Finally, ValuEngine downgraded Envestnet from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $69.67.

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 57.96, a P/E/G ratio of 2.98 and a beta of 1.90.

Envestnet (NYSE:ENV) last announced its earnings results on Thursday, February 21st. The business services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.18. The business had revenue of $210.08 million during the quarter, compared to the consensus estimate of $210.52 million. Envestnet had a return on equity of 11.51% and a net margin of 0.71%. Research analysts predict that Envestnet Inc will post 1.47 EPS for the current year.

In related news, insider Matthew Majoros sold 3,500 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $66.78, for a total value of $233,730.00. Following the completion of the transaction, the insider now directly owns 14,846 shares of the company’s stock, valued at approximately $991,415.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Joshua Mayer sold 2,616 shares of the stock in a transaction on Monday, February 4th. The shares were sold at an average price of $55.00, for a total value of $143,880.00. Following the completion of the transaction, the chief operating officer now directly owns 32,616 shares of the company’s stock, valued at $1,793,880. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,146 shares of company stock valued at $4,360,977. 4.97% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ENV. Norges Bank acquired a new position in Envestnet in the 4th quarter valued at $25,851,000. Dimensional Fund Advisors LP raised its stake in Envestnet by 88.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 363,129 shares of the business services provider’s stock valued at $22,133,000 after purchasing an additional 170,702 shares during the last quarter. BlackRock Inc. increased its stake in shares of Envestnet by 4.8% in the 4th quarter. BlackRock Inc. now owns 3,352,246 shares of the business services provider’s stock worth $164,898,000 after acquiring an additional 152,126 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Envestnet by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,942,847 shares of the business services provider’s stock worth $240,316,000 after acquiring an additional 112,801 shares during the last quarter. Finally, Vanguard Group Inc increased its stake in shares of Envestnet by 2.9% in the 3rd quarter. Vanguard Group Inc now owns 3,942,847 shares of the business services provider’s stock worth $240,316,000 after acquiring an additional 112,801 shares during the last quarter. 92.78% of the stock is owned by hedge funds and other institutional investors.

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About Envestnet (NYSE:ENV)

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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