Envestnet (NYSE:ENV) Sees Large Volume Increase

Envestnet, Inc. (NYSE:ENV) saw strong trading volume on Wednesday . 1,085,842 shares traded hands during mid-day trading, an increase of 123% from the previous session’s volume of 487,814 shares.The stock last traded at $61.68 and had previously closed at $61.80.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com raised shares of Envestnet from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. JPMorgan Chase & Co. boosted their price target on shares of Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Royal Bank of Canada boosted their price target on shares of Envestnet from $47.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. DA Davidson boosted their price target on shares of Envestnet from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Raymond James boosted their price target on shares of Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Envestnet Stock Up 1.8 %

The company has a market cap of $3.47 billion, a PE ratio of -14.32 and a beta of 1.31. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s 50 day moving average price is $54.82 and its 200-day moving average price is $47.77.

Envestnet (NYSE:ENV) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.10. The business had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $312.24 million. Envestnet had a negative net margin of 19.17% and a positive return on equity of 12.27%. On average, analysts predict that Envestnet, Inc. will post 1.78 earnings per share for the current year.

Insider Buying and Selling at Envestnet

In other news, Director Lauren Taylor Wolfe purchased 1,670 shares of the company’s stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $52.99 per share, with a total value of $88,493.30. Following the transaction, the director now directly owns 4,188,871 shares of the company’s stock, valued at approximately $221,968,274.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Lauren Taylor Wolfe acquired 1,670 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $52.99 per share, for a total transaction of $88,493.30. Following the acquisition, the director now owns 4,188,871 shares of the company’s stock, valued at $221,968,274.29. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the transaction, the insider now owns 15,212 shares of the company’s stock, valued at $865,867.04. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in Envestnet by 6.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,499 shares of the business services provider’s stock worth $6,462,000 after purchasing an additional 7,924 shares in the last quarter. Van Berkom & Associates Inc. increased its stake in shares of Envestnet by 33.2% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,762,502 shares of the business services provider’s stock worth $77,603,000 after acquiring an additional 438,994 shares in the last quarter. Cambiar Investors LLC increased its stake in shares of Envestnet by 65.5% in the 4th quarter. Cambiar Investors LLC now owns 57,652 shares of the business services provider’s stock worth $2,855,000 after acquiring an additional 22,823 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Envestnet in the 3rd quarter worth about $5,604,000. Finally, Wolverine Asset Management LLC bought a new position in shares of Envestnet in the 3rd quarter worth about $1,206,000.

Envestnet Company Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which 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.