Enfusion (NYSE:ENFN) Sets New 1-Year High – Still a Buy?

Enfusion, Inc. (NYSE:ENFN)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $11.80 and last traded at $11.38, with a volume of 160693 shares trading hands. The stock had previously closed at $11.07.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Stifel Nicolaus upped their target price on Enfusion from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. William Blair reiterated a “market perform” rating on shares of Enfusion in a research report on Monday, January 13th. Finally, Piper Sandler boosted their price objective on Enfusion from $10.00 to $11.50 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.50.

Enfusion Stock Up 1.3 %

The business’s 50-day moving average price is $10.82 and its 200-day moving average price is $9.64. The firm has a market capitalization of $1.48 billion, a PE ratio of 287.45, a price-to-earnings-growth ratio of 1.85 and a beta of 0.96.

Insider Transactions at Enfusion

In other news, CEO Oleg Movchan sold 2,771 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $10.13, for a total value of $28,070.23. Following the completion of the sale, the chief executive officer now directly owns 526,702 shares of the company’s stock, valued at $5,335,491.26. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Neal Pawar sold 21,801 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $10.03, for a total transaction 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 $11,469,746.32. This trade represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,367 shares of company stock valued at $591,335 over the last three months. 36.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enfusion

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Enfusion by 7.3% in the third quarter. Geode Capital Management LLC now owns 1,029,366 shares of the company’s stock worth $9,770,000 after buying an additional 70,367 shares during the last quarter. Wellington Management Group LLP increased its holdings in Enfusion by 6.7% in the third quarter. Wellington Management Group LLP now owns 976,296 shares of the company’s stock worth $9,265,000 after buying an additional 61,032 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Enfusion by 612.4% in the third quarter. JPMorgan Chase & Co. now owns 208,022 shares of the company’s stock worth $1,974,000 after buying an additional 178,821 shares during the last quarter. Barclays PLC grew its holdings in Enfusion by 251.4% during the third quarter. Barclays PLC now owns 86,039 shares of the company’s stock valued at $817,000 after purchasing an additional 61,554 shares during the last quarter. Finally, PDT Partners LLC acquired a new position in Enfusion during the third quarter valued at approximately $867,000. Institutional investors and hedge funds own 81.05% of the company’s stock.

About Enfusion

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.