Reasons to Hold Envestnet (ENV) Stock in Your Portfolio
Envestnet (ENV) focuses on technology development to bolster operational efficiency and competitiveness. However, high goodwill as a percentage of total assets puts the capital structure at risk.
Swiss National Bank Sells 9,000 Shares of Envestnet, Inc. (NYSE:ENV)
Swiss National Bank lessened its holdings in shares of Envestnet, Inc. (NYSE:ENV – Free Report) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,700 shares of the business services provider’s stock after selling 9,000 shares during the quarter. Swiss National Bank owned about 0.15% of Envestnet worth $3,996,000 at the end of the most recent quarter. Other large investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in Envestnet during the 3rd quarter valued at approximately $45,000. PNC Financial Services Group Inc. increased its holdings in Envestnet by 19.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,930 shares of the business services provider’s stock valued at $217,000 after acquiring an additional 802 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Envestnet by 75.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,788 shares of the business services provider’s stock worth $299,000 after purchasing an additional 2,915 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Envestnet during the 3rd quarter valued at about $420,000. Finally, Truist Financial Corp purchased a new position in shares of Envestnet during the fourth quarter valued at about $433,000. Insider Buying and Selling at Envestnet In other news, insider Matthew Majoros sold 700 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the transaction, the insider now directly owns 15,212 shares in the company, valued at $865,867.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Lauren Taylor Wolfe acquired 1,670 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $52.99 per share, with a total value of $88,493.30. Following the completion of the transaction, the director now directly owns 4,188,871 shares in the company, valued at $221,968,274.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew Majoros sold 700 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.92, for a total transaction of $39,844.00. Following the sale, the insider now directly owns 15,212 shares of the company’s stock, valued at $865,867.04. The disclosure for this sale can be found here. Insiders own 8.90% of the company’s stock. Envestnet Price Performance ENV opened at $67.81 on Monday. The business has a fifty day moving average of $60.10 and a 200 day moving average of $51.46. The stock has a market cap of $3.74 billion, a P/E ratio of -19.05 and a beta of 1.26. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.47. Envestnet, Inc. has a 52-week low of $33.12 and a 52-week high of $68.83. Envestnet (NYSE:ENV – Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The company had revenue of $317.63 million during the quarter, compared to analyst estimates of $312.24 million. Envestnet had a negative net margin of 15.33% and a positive return on equity of 14.75%. As a group, sell-side analysts anticipate that Envestnet, Inc. will post 1.78 EPS for the current year. Wall Street Analyst Weigh In ENV has been the subject of a number of research reports. Jefferies Financial Group raised Envestnet from an “underperform” rating to a “hold” rating and increased their price target for the company from $47.00 to $59.00 in a research note on Wednesday, May 8th. DA Davidson lifted their price objective 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. JPMorgan Chase & Co. upped their target price on shares of Envestnet from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Raymond James lifted their price target on Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada boosted their target price on Envestnet from $56.00 to $64.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.14. Check Out Our Latest Analysis on Envestnet Envestnet Company Profile (Free Report) 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.
