Stifel Nicolaus Forecasts Strong Price Appreciation for Enfusion (NYSE:ENFN) Stock

Enfusion (NYSE:ENFN) had its price target hoisted by equities researchers at Stifel Nicolaus from $11.00 to $13.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 17.54% from the stock’s current price.

Enfusion Stock Up 0.3 %

ENFN stock traded up $0.03 during midday trading on Wednesday, reaching $11.06. 92,376 shares of the company’s stock traded hands, compared to its average volume of 384,610. The company has a 50-day simple moving average of $9.61 and a two-hundred day simple moving average of $8.97. Enfusion has a 1-year low of $7.52 and a 1-year high of $11.38. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 276.75, a PEG ratio of 3.98 and a beta of 0.97.

Insider Activity

In other news, COO Neal Pawar sold 21,801 shares of Enfusion stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $10.03, for a total value of $218,664.03. Following the completion of the sale, the chief operating officer now directly owns 1,143,544 shares of the company’s stock, valued at approximately $11,469,746.32. This trade represents a 1.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 36.44% of the company’s stock.

Institutional Investors Weigh In On Enfusion

A number of institutional investors have recently made changes to their positions in ENFN. Bank of New York Mellon Corp grew its stake in shares of Enfusion by 29.4% during the second quarter. Bank of New York Mellon Corp now owns 159,555 shares of the company’s stock worth $1,359,000 after purchasing an additional 36,257 shares during the period. RiverPark Advisors LLC bought a new position in Enfusion during the second quarter worth about $68,000. Principal Financial Group Inc. lifted its holdings in Enfusion by 15.6% during the second quarter. Principal Financial Group Inc. now owns 56,524 shares of the company’s stock worth $482,000 after acquiring an additional 7,611 shares in the last quarter. Rhumbline Advisers lifted its holdings in Enfusion by 30.3% during the second quarter. Rhumbline Advisers now owns 59,435 shares of the company’s stock worth $506,000 after acquiring an additional 13,832 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in Enfusion during the second quarter worth about $183,000. 81.05% of the stock is owned by institutional investors and hedge funds.

Enfusion Company Profile

Enfusion, Inc provides software-as-a-service solutions for investment management industry in the United States, Europe, the Middle East, Africa, and the Asia Pacific. The company provides Portfolio Management System, which generates a real-time investment book of record that consists of valuation and risk tools, which allows users to analyze aggregated or decomposed portfolio data for chief investment officers (CIOs) and portfolio managers; and Order and Execution Management System that enables portfolio managers, traders, compliance teams, and analysts to electronically communicate trade orders for a variety of asset classes, manage trade orders, and systemically enforce trading regulations and internal guidelines.