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. It also provides Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research and consulting services to assist advisors in creating investment solutions for their clients, and portfolio overlay and tax optimization services, as well as data aggregation and data intelligence platform, which offers cloud-based innovation for digital financial services. The company primarily serves banks, wealth management and brokerage firms, internet services companies, and registered investment advisers. Envestnet, Inc. was founded in 1999 and is headquartered in Chicago, Illinois.
IPO Year: 2010
Exchange: NYSE
Website: envestnet.com
Date | Price Target | Rating | Analyst |
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7/18/2024 | $78.00 → $63.00 | Buy → Neutral | DA Davidson |
5/8/2024 | $47.00 → $59.00 | Underperform → Hold | Jefferies |
1/6/2023 | $63.00 → $71.00 | Strong Buy → Outperform | Raymond James |
7/25/2022 | Outperform | William Blair | |
3/7/2022 | $95.00 → $90.00 | Buy | Truist Securities |
2/28/2022 | $86.00 | Neutral → Buy | DA Davidson |
2/25/2022 | $86.00 | Neutral → Buy | DA Davidson |
1/10/2022 | $97.00 → $101.00 | Market Outperform | JMP Securities |
11/9/2021 | $94.00 → $97.00 | Market Outperform | JMP Securities |
11/9/2021 | $84.00 → $89.00 | Sector Perform | RBC Capital |
DA Davidson analyst Peter Heckmann downgrades Envestnet (NYSE:ENV) from Buy to Neutral and lowers the price target from $78 to $63.
Envestnet (NYSE:ENV) has been analyzed by 3 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 0 3 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 0 0 2 0 0 Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $62.05, with a high estimate of $64.00 and a low estimate of $59.00. Observing a 4.58% increase, the curr
UBS analyst Alex Kramm downgrades Envestnet (NYSE:ENV) from Buy to Neutral and lowers the price target from $75 to $63.15.
William Blair analyst Jeff Schmitt downgrades Envestnet (NYSE:ENV) from Outperform to Market Perform.
Envestnet, Inc. (NYSE:ENV), a provider of integrated technology, intelligent data, and wealth solutions, announced a definitive agreement to be acquired by Bain Capital in a deal valuing the company at $4.5 billion ($63.15 per share). Reverence Capital and strategic partners, including BlackRock Inc (NYSE:BLK), Fidelity Investments, Franklin Templeton, and State Street Global Advisors, will also invest in the transaction. Envestnet manages over $6 trillion in assets and supports nearly 20 million accounts through its comprehensive wealth management platform, which serves over 109,000 financial advisors. The company has been recognized for its role financial planning, portfolio manag
- Reuters
Transaction DetailsUnder the terms of the agreement, which has been unanimously approved by the Envestnet Board of Directors, Envestnet shareholders will receive $63.15 in cash for each share of common stock they own. The transaction is expected to close in the fourth quarter of 2024, subject to the satisfaction of customary closing conditions, including receipt of approval by Envestnet's shareholders and required regulatory approvals. Upon completion of the transaction, Envestnet's common stock will no longer be publicly listed, and Envestnet will become a privately held company.
- Reuters Citing Sources
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DA Davidson downgraded Envestnet from Buy to Neutral and set a new price target of $63.00 from $78.00 previously
Jefferies upgraded Envestnet from Underperform to Hold and set a new price target of $59.00 from $47.00 previously
Raymond James downgraded Envestnet from Strong Buy to Outperform and set a new price target of $71.00 from $63.00 previously
William Blair resumed coverage of Envestnet with a rating of Outperform
Truist Securities reiterated coverage of Envestnet with a rating of Buy and set a new price target of $90.00 from $95.00 previously
DA Davidson upgraded Envestnet from Neutral to Buy and set a new price target of $86.00
DA Davidson upgraded Envestnet from Neutral to Buy and set a new price target of $86.00
JMP Securities reiterated coverage of Envestnet with a rating of Market Outperform and set a new price target of $101.00 from $97.00 previously
JMP Securities reiterated coverage of Envestnet with a rating of Market Outperform and set a new price target of $97.00 from $94.00 previously
RBC Capital reiterated coverage of Envestnet with a rating of Sector Perform and set a new price target of $89.00 from $84.00 previously
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New Envestnet RIA Capabilities include Enhanced Fixed-Income Trading tool, Unified Managed Accounts Integration, and New Client Portal Envestnet Co-CIO and Solutions Group President Dana D'Auria Takes the Stage at Future Proof 2024 to Address the Future of Investment Delivery BERWYN, Pa., Sept. 16, 2024 /PRNewswire/ -- Time, arguably an advisor's most valuable resource, is often in critically short supply, insufficient for what they would ideally like to spend with clients. According to Envestnet's 2024 Advisor Perspectives Survey1, nearly 40% of advisors are spending their time on investment management and administrative activities, with 30% saying they are not able to spend enough of thei
NEW YORK, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the third quarter of 2024. This quarter, there are constituent changes within three of our indexes: the KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN), KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), and KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY). These changes will be effective prior to the opening of business
Recognition Spans 'All-In-One' Platforms, Innovation, Direct Indexing, Retirement, and Annuities Showcasing Envestnet's Comprehensive Solutions and Integrations BERWYN, Pa., Aug. 27, 2024 /PRNewswire/ -- Envestnet (NYSE:ENV), a leading provider of integrated technology, data intelligence, and wealth solutions, announced that its ecosystem has been recognized as a finalist for seven 2024 Wealth Management Industry Awards ("Wealthies"). Envestnet's ecosystem received the highest number of finalists from a field of more than 1,000 entries across over 400 companies when including its Exchanges. www.envestnet.com. (PRNewsfoto/Env
Envestnet (NYSE:ENV), a leading provider of intelligent systems for wealth management and financial wellness, today reported financial results for the three and six months ended June 30, 2024. Three months ended Six months ended Key Financial Metrics June 30, % June 30, % (in millions, except per share data) 2024 2023 Change 2024 2023 Change GAAP:
Envestnet (NYSE:ENV), a leading provider of integrated technology, data intelligence and wealth solutions, today announced that the Company will release its second quarter 2024 financial results on Friday, August 9, 2024. The Company will host a conference call and earnings webcast to discuss its second quarter 2024 financial results on Monday, August 12, 2024 at 5:00pm ET. Due to the pending transaction with Bain Capital, the Company will not be providing guidance for the third quarter and there will not be a Q&A session during the earnings call. The conference call will be webcast live from the Company's investor relations website at https://investor.envestnet.com/. A replay will be a
BERWYN, Pa., July 11, 2024 /PRNewswire/ -- Envestnet, Inc. (NYSE:ENV) ("the Company" or "Envestnet"), a leading provider of integrated technology, intelligent data and wealth solutions, today announced that it has entered into a definitive agreement to be acquired by Bain Capital in a transaction valuing the Company at $4.5 billion ($63.15 per share). Reverence Capital also agreed to participate in the transaction. Strategic partners BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors have committed to invest in the proposed transaction, and upon its completion they will hold minority positions in the private company.
Opportunities Include Offering Holistic Advice, A Fee-Based Future, All-In-One WealthTech, And Tackling The Organic Growth Imperative BERWYN, Pa., July 10, 2024 /PRNewswire/ -- Envestnet (NYSE:ENV), a leading provider of integrated technology, data intelligence, and wealth solutions, has released its 2024 Advisor Perspectives Survey, examining the current state of financial advisory practices and anticipated industry trends. Envestnet leverages its unique vantage point to conduct the annual survey, gathering responses from 290 financial advisors. The survey explores how advisors are planning to grow, scale, and protect their businesses for the future.
A Strategic Alignment to Enhance FMAX, Enable New Capabilities to Serve Firms of All Sizes Fidelity Investments and Envestnet (NYSE:ENV) today announced the expansion of their 20+ year relationship to deliver a comprehensive wealth and advisory solution that builds on the success of Fidelity Managed Account Xchange® (FMAX), Fidelity's wealth management platform, and the firms' long-standing collaboration that has grown to more than $500 billion across managed accountsi. Envestnet's 2024 Market Intelligence Survey shows that while most advisors currently assemble their technology stacks with point solutions that address a single need (61%), an all-in-one technology platform that serves m
Asset Managers to Offer Unified Managed Account-eligible Direct Indexing, Custom HNW Solutions and More on Envestnet Platform; Invest in Enhancements to Envestnet's UMA Ecosystem BERWYN, Pa., June 5, 2024 /PRNewswire/ -- Envestnet (NYSE:ENV), a leading provider of integrated technology, data intelligence and wealth solutions, is deepening relationships with BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors. Envestnet is planning on working with these firms, some of the largest asset managers in the world, to build investment strategies that are custom-tailored and can be used by advisors to help meet the specific financial goals, risk tolerance, and perso
Now In Its 20th Year, Envestnet's Asset Manager of the Year Awards Program Recognizes Top Performing Portfolio Managers with Standout Strategies BERWYN, Pa., May 15, 2024 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) announced the winners of its 2024 Asset Manager of the Year Awards during a ceremony at the company's annual Elevate conference. Among the distinguished winners, Causeway Capital Management earned the prestigious title of Manager of the Year for its Causeway International Value ADR Strategy. "Congratulations to Causeway Capital Management for being named Manager of
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NEW YORK, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the third quarter of 2024. This quarter, there are constituent changes within three of our indexes: the KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN), KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), and KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY). These changes will be effective prior to the opening of business
Envestnet (NYSE:ENV), a leading provider of intelligent systems for wealth management and financial wellness, today reported financial results for the three and six months ended June 30, 2024. Three months ended Six months ended Key Financial Metrics June 30, % June 30, % (in millions, except per share data) 2024 2023 Change 2024 2023 Change GAAP:
Envestnet (NYSE:ENV), a leading provider of integrated technology, data intelligence and wealth solutions, today announced that the Company will release its second quarter 2024 financial results on Friday, August 9, 2024. The Company will host a conference call and earnings webcast to discuss its second quarter 2024 financial results on Monday, August 12, 2024 at 5:00pm ET. Due to the pending transaction with Bain Capital, the Company will not be providing guidance for the third quarter and there will not be a Q&A session during the earnings call. The conference call will be webcast live from the Company's investor relations website at https://investor.envestnet.com/. A replay will be a
Now In Its 20th Year, Envestnet's Asset Manager of the Year Awards Program Recognizes Top Performing Portfolio Managers with Standout Strategies BERWYN, Pa., May 15, 2024 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) announced the winners of its 2024 Asset Manager of the Year Awards during a ceremony at the company's annual Elevate conference. Among the distinguished winners, Causeway Capital Management earned the prestigious title of Manager of the Year for its Causeway International Value ADR Strategy. "Congratulations to Causeway Capital Management for being named Manager of
Envestnet (NYSE:ENV), a leading provider of intelligent systems for wealth management and financial wellness, today reported financial results for the three months ended March 31, 2024. Three months ended Key Financial Metrics March 31, % (in millions, except per share data) 2024 2023 Change GAAP: Total revenue $ 325.0 $ 298.7 9% Net income (loss) attributable to Envestnet, Inc. $
Leading Wealth Management Platform Recognizes Industry's Top Asset Managers for Strong & Index-Beating Performances in 2023 BERWYN, Pa., May 3, 2024 /PRNewswire/ -- Envestnet, Inc. (NYSE:ENV) has announced its list of finalists for the 2024 Asset Manager of the Year Awards. Now in its 20th year, the awards program recognizes high-conviction portfolio managers who exemplify excellence in investment management practices in varied economic environment and market conditions. www.envestnet.com. (PRNewsfoto/Envestnet)" alt="Envestnet is transforming the way financial advice is delivered through an ecosystem of technology, solution
Envestnet (NYSE:ENV), a leading provider of integrated technology, intelligent data and wealth solutions, today announced that the Company will release its first quarter 2024 financial results on Tuesday, May 7, 2024 after market close. The Company will host a conference call and earnings webcast to discuss first quarter 2024 financial results on Tuesday, May 7, 2024 at 5:00pm ET. The conference call will be webcast live from the Company's investor relations website at https://investor.envestnet.com/. A replay will be available on the investor relations website following the call. About Envestnet Envestnet is helping to lead the growth of wealth managers and transforming the way finan
Envestnet (NYSE:ENV), a leading provider of intelligent systems for wealth management and financial wellness, today reported financial results for the quarter and year ended December 31, 2023. Three Months Ended Year Ended Key Financial Metrics December 31, % December 31, % (in millions, except per share data) (unaudited) 2023 2022 Change 2023 2022 Change GAAP:
Envestnet (NYSE:ENV), a leading provider of intelligent systems for wealth management and financial wellness, today announced that the Company will release its fourth quarter and full year 2023 financial results on Thursday, February 22, 2024 after market close. The Company will host a conference call and earnings webcast to discuss fourth quarter and full year 2023 financial results on Thursday, February 22, 2024 at 5:00pm ET. The conference call will be webcast live from the Company's investor relations website at https://investor.envestnet.com/. A replay will be available on the investor relations website following the call. About Envestnet Envestnet is transforming the way financi
Envestnet (NYSE:ENV), a leading provider of intelligent systems for wealth management and financial wellness, today reported financial results for the three and nine months ended September 30, 2023. Three months ended Nine months ended Key Financial Metrics September 30, % September 30, % (in millions, except per share data) 2023 2022 Change 2023 2022 Change GAAP: Total
Succeeds Pete D'Arrigo Who Will Assist During Transition BERWYN, Pa., Sept. 25, 2023 /PRNewswire/ -- Envestnet, Inc. (NYSE:ENV), a leading provider of integrated technology, intelligent data and wealth solutions, today announced that Joshua B. Warren is joining the company as Chief Financial Officer. Warren is an accomplished financial executive who served most recently as Managing Director and Global Head of Business Strategy for iShares and Index Investments for BlackRock. Warren will succeed Peter H. D'Arrigo who served as Chief Financial Officer since 2008. Warren will ini
Announces Cooperation Agreement with Impactive Capital BERWYN, Pa., March 28, 2023 /PRNewswire/ -- Envestnet, Inc. (NYSE:ENV), a leading provider of intelligent systems for wealth management and financial wellness, today announced the appointment of three new independent directors to its Board of Directors. Barbara Turner, former CEO of Ohio National Financial Services, a leading provider of life insurance, annuities and wealth management services, joined the Board effective as of March 22, 2023, as part of Envestnet's ongoing refreshment process. Envestnet also has appointed
SAN FRANCISCO, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Juniper Square, the leading provider of partnership enablement for the private funds industry, today announced the appointment of Andina Anderson as Chief Customer Officer (CCO), responsible for overseeing the company's client onboarding, success, service and support functions. Today, Juniper Square provides more than 1,700 GPs and 300,000 LPs with a universal system to connect and communicate seamlessly across every stage of their investment partnerships. "At Juniper Square we aim to provide our customers - investment managers in the private funds industry - with complete solutions to their problems. A deep commitment to the success of o
Details Serious Concerns with Envestnet's Prolonged, Significant Stock Price and Operating Underperformance, Lack of Shareholder Alignment and Poor Board Governance Perplexed by Board's Refusal to Add a Single Shareholder Representative to the Board, Despite Impactive's Large Ownership Stake and Considerable Effort to Collaborate Over the Past 18 Months Troubled by Excessive Spending Without ROI Justification and Declining Profitability as Management and Board Payouts Increase May Seek Further Board Change at 2023 Annual Meeting NEW YORK, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Impactive Capital, LP, together with its affiliates, one of the largest shareholders of Envestnet, Inc. (NYSE:ENV
Digital 401(k) Retirement Plan Marketplace Provides a Seamless & Efficient Way for Advisors to Incorporate Retirement Plan Servicing into Their Practices BERWYN, Pa., June 1, 2022 /PRNewswire/ -- Envestnet today announced its acquisition of 401kplans.com, a digital 401(k) retirement plan marketplace that streamlines retirement plan distribution and due diligence among financial advisors and third-party administrators. The acquisition underscores Envestnet's ongoing commitment to the retirement plan industry, and to investing in technologies and solutions that enhance its financial wellness ecosystem—by helping advisors enable their clients to live an Intelligent Financial Life™.
Industry titan brings decades of leadership experience and extensive industry connections to commission-free insurance platform for RIAs DPL Financial Partners ("DPL"), the leading turnkey insurance platform for registered investment advisors ("RIAs"), announced the appointment of Tiburon Strategic Advisors and Tiburon CEO Summits Founder and Managing Partner Chip Roame to its board of directors. "We are thrilled to welcome Chip to our board," said DPL Founder and CEO David Lau. "Chip's passion for this industry, his deep knowledge and experience helping companies grow--both as an advisor and as a board member--rounds out the expertise we're seeking at the board level. As DPL continues to
Envestnet, Inc. (NYSE:ENV), today announced that Anil Arora has resigned as a director of the Company effective October 28, 2021. Bill Crager, Envestnet's President and Chief Executive Officer, said "On behalf of the Board of Directors and management of Envestnet, I want to thank Anil for his years of service to Envestnet and we wish him well in his future endeavors." Mr. Crager noted that Mr. Arora served as president and chief executive officer of Yodlee, Inc. from February 2000 and became Vice Chairman of the Board and Chief Executive of Envestnet | Yodlee in November 2015 when Yodlee was acquired by Envestnet. Mr. Arora stepped down as Chief Executive of Envestnet | Yodlee effective Ma