Envestnet, Inc. (NYSE:ENV – Get Rating) reached a new 52-week low on Thursday . The company traded as low as $47.94 and last traded at $47.99, with a volume of 808 shares changing hands. The stock had previously closed at $48.99.
Analyst Upgrades and Downgrades
ENV has been the topic of several recent analyst reports. William Blair reissued an "outperform" rating on shares of Envestnet in a report on Monday, July 25th. DA Davidson dropped their target price on shares of Envestnet from $86.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, July 1st. StockNews.com upgraded shares of Envestnet from a "sell" rating to a "hold" rating in a research report on Tuesday, September 13th. TheStreet lowered shares of Envestnet from a "c-" rating to a "d+" rating in a report on Friday, June 17th. Finally, JMP Securities decreased their price target on shares of Envestnet from $97.00 to $80.00 and set a "market outperform" rating for the company in a report on Tuesday, July 12th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Envestnet has a consensus rating of "Moderate Buy" and an average price target of $72.33.
Get Envestnet alerts:Envestnet Stock Performance
The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -89.07 and a beta of 1.19. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54. The stock's 50 day moving average is $54.53 and its two-hundred day moving average is $63.35.
Envestnet (NYSE:ENV – Get Rating) last announced its earnings results on Thursday, August 4th. The business services provider reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. The firm had revenue of $318.90 million during the quarter, compared to analyst estimates of $324.02 million. Envestnet had a negative net margin of 2.42% and a positive return on equity of 7.52%. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 EPS. Analysts expect that Envestnet, Inc. will post 0.87 earnings per share for the current fiscal year.Insider Buying and Selling
In related news, CEO William Crager bought 920 shares of Envestnet stock in a transaction that occurred on Wednesday, June 29th. The stock was purchased at an average cost of $53.79 per share, with a total value of $49,486.80. Following the purchase, the chief executive officer now owns 306,241 shares in the company, valued at $16,472,703.39. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Envestnet news, CEO William Crager acquired 920 shares of Envestnet stock in a transaction dated Wednesday, June 29th. The stock was bought at an average cost of $53.79 per share, for a total transaction of $49,486.80. Following the purchase, the chief executive officer now directly owns 306,241 shares in the company, valued at approximately $16,472,703.39. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Barry D. Cooper sold 1,290 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $56.43, for a total transaction of $72,794.70. Following the transaction, the senior vice president now owns 25,997 shares of the company's stock, valued at $1,467,010.71. The disclosure for this sale can be found here. Company insiders own 1.44% of the company's stock.
Hedge Funds Weigh In On Envestnet
A number of large investors have recently modified their holdings of ENV. CWM LLC raised its holdings in shares of Envestnet by 156.8% in the 2nd quarter. CWM LLC now owns 796 shares of the business services provider's stock valued at $42,000 after purchasing an additional 486 shares during the period. Hartford Financial Management Inc. raised its holdings in shares of Envestnet by 34.0% in the 2nd quarter. Hartford Financial Management Inc. now owns 1,206 shares of the business services provider's stock valued at $64,000 after purchasing an additional 306 shares during the period. Covestor Ltd raised its holdings in shares of Envestnet by 86.2% in the 1st quarter. Covestor Ltd now owns 1,398 shares of the business services provider's stock valued at $104,000 after purchasing an additional 647 shares during the period. Inspire Investing LLC raised its holdings in shares of Envestnet by 29.7% in the 2nd quarter. Inspire Investing LLC now owns 4,040 shares of the business services provider's stock valued at $213,000 after purchasing an additional 926 shares during the period. Finally, Keybank National Association OH raised its holdings in shares of Envestnet by 10.7% in the 1st quarter. Keybank National Association OH now owns 3,199 shares of the business services provider's stock valued at $239,000 after purchasing an additional 310 shares during the period.
Envestnet Company Profile
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Envestnet, Inc, together with its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through Envestnet Wealth Solutions and Envestnet Data & Analytics segments. The company's product and services include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as offers 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; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.
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