Envestnet, Inc (ENV) Earns “Hold” Rating from Royal Bank Of Canada

Royal Bank Of Canada reissued their hold rating on shares of Envestnet, Inc (NYSE:ENV) in a report issued on Thursday morning. Royal Bank Of Canada currently has a $48.00 target price on the business services provider’s stock.

Several other research analysts also recently issued reports on the company. DA Davidson initiated coverage on Envestnet in a research report on Thursday, July 6th. They set a neutral rating and a $42.00 price objective for the company. Zacks Investment Research upgraded Envestnet from a strong sell rating to a buy rating and set a $43.00 price objective for the company in a research report on Tuesday, July 11th. Jefferies Group LLC restated a buy rating and set a $48.00 price objective on shares of Envestnet in a research report on Friday, July 14th. BidaskClub upgraded Envestnet from a hold rating to a buy rating in a research report on Tuesday, June 13th. Finally, William Blair restated a buy rating on shares of Envestnet in a research report on Wednesday, June 28th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $48.14.

Envestnet (ENV) traded up 0.94% during midday trading on Thursday, hitting $53.65. The company had a trading volume of 129,326 shares. Envestnet has a 52-week low of $30.80 and a 52-week high of $54.20. The stock’s 50-day moving average price is $46.95 and its 200-day moving average price is $39.38. The stock’s market cap is $2.36 billion.

Envestnet (NYSE:ENV) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). Envestnet had a positive return on equity of 7.78% and a negative net margin of 8.93%. The company had revenue of $167.50 million for the quarter, compared to analyst estimates of $164.04 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts expect that Envestnet will post $1.29 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Envestnet, Inc (ENV) Earns “Hold” Rating from Royal Bank Of Canada” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/08/envestnet-inc-env-earns-hold-rating-from-royal-bank-of-canada.html.

In other Envestnet news, COO Joshua Mayer sold 1,500 shares of the business’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $43.66, for a total value of $65,490.00. Following the completion of the transaction, the chief operating officer now directly owns 13,796 shares in the company, valued at approximately $602,333.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anil Arora sold 8,980 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $40.00, for a total value of $359,200.00. Following the completion of the transaction, the insider now owns 68,609 shares of the company’s stock, valued at $2,744,360. The disclosure for this sale can be found here. Insiders sold a total of 40,944 shares of company stock valued at $1,933,230 over the last quarter. 7.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. acquired a new position in Envestnet in the 1st quarter valued at $116,000. D.A. Davidson & CO. raised its holdings in Envestnet by 13.0% in the 2nd quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after acquiring an additional 379 shares during the last quarter. Parallel Advisors LLC acquired a new position in Envestnet in the 1st quarter valued at $131,000. Gradient Investments LLC acquired a new position in Envestnet in the 2nd quarter valued at $191,000. Finally, Blueport Capital L.P. raised its holdings in Envestnet by 69.9% in the 1st quarter. Blueport Capital L.P. now owns 6

Several other research analysts also recently issued reports on the company. DA Davidson initiated coverage on Envestnet in a research report on Thursday, July 6th. They set a neutral rating and a $42.00 price objective for the company. Zacks Investment Research upgraded Envestnet from a strong sell rating to a buy rating and set a $43.00 price objective for the company in a research report on Tuesday, July 11th. Jefferies Group LLC restated a buy rating and set a $48.00 price objective on shares of Envestnet in a research report on Friday, July 14th. BidaskClub upgraded Envestnet from a hold rating to a buy rating in a research report on Tuesday, June 13th. Finally, William Blair restated a buy rating on shares of Envestnet in a research report on Wednesday, June 28th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $48.14.

Envestnet (ENV) traded up 0.94% during midday trading on Thursday, hitting $53.65. The company had a trading volume of 129,326 shares. Envestnet has a 52-week low of $30.80 and a 52-week high of $54.20. The stock’s 50-day moving average price is $46.95 and its 200-day moving average price is $39.38. The stock’s market cap is $2.36 billion.

Envestnet (NYSE:ENV) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). Envestnet had a positive return on equity of 7.78% and a negative net margin of 8.93%. The company had revenue of $167.50 million for the quarter, compared to analyst estimates of $164.04 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts expect that Envestnet will post $1.29 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Envestnet, Inc (ENV) Earns “Hold” Rating from Royal Bank Of Canada” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/08/envestnet-inc-env-earns-hold-rating-from-royal-bank-of-canada.html.

In other Envestnet news, COO Joshua Mayer sold 1,500 shares of the business’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $43.66, for a total value of $65,490.00. Following the completion of the transaction, the chief operating officer now directly owns 13,796 shares in the company, valued at approximately $602,333.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anil Arora sold 8,980 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $40.00, for a total value of $359,200.00. Following the completion of the transaction, the insider now owns 68,609 shares of the company’s stock, valued at $2,744,360. The disclosure for this sale can be found here. Insiders sold a total of 40,944 shares of company stock valued at $1,933,230 over the last quarter. 7.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. acquired a new position in Envestnet in the 1st quarter valued at $116,000. D.A. Davidson & CO. raised its holdings in Envestnet by 13.0% in the 2nd quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after acquiring an additional 379 shares during the last quarter. Parallel Advisors LLC acquired a new position in Envestnet in the 1st quarter valued at $131,000. Gradient Investments LLC acquired a new position in Envestnet in the 2nd quarter valued at $191,000. Finally, Blueport Capital L.P. raised its holdings in Envestnet by 69.9% in the 1st quarter. Blueport Capital L.P. now owns 6,254 shares of the business services provider’s stock valued at $202,000 after acquiring an additional 2,574 shares during the last quarter. Institutional investors own 95.51% of the company’s stock.

Envestnet Company Profile

Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.

Analyst Recommendations for Envestnet (NYSE:ENV)

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