Q4 2017 EPS Estimates for Envestnet, Inc Boosted by Analyst (NYSE:ENV)

Envestnet, Inc (NYSE:ENV) – William Blair increased their Q4 2017 EPS estimates for shares of Envestnet in a report released on Tuesday. William Blair analyst C. Shutler now anticipates that the business services provider will post earnings per share of $0.29 for the quarter, up from their previous forecast of $0.28. William Blair has a “Buy” rating on the stock.

Envestnet (NYSE:ENV) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.01. The firm had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $164.04 million. Envestnet had a positive return on equity of 7.78% and a negative net margin of 8.93%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share.

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Other analysts also recently issued research reports about the company. Stifel Nicolaus reiterated a “buy” rating and set a $52.00 price target (up previously from $45.00) on shares of Envestnet in a research note on Thursday. Raymond James Financial, Inc. boosted their price target on Envestnet from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday. BidaskClub downgraded Envestnet from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. DA Davidson assumed coverage on Envestnet in a research note on Thursday, July 6th. They set a “neutral” rating and a $42.00 price target on the stock. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $40.00 price target on shares of Envestnet in a research note on Thursday, May 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.50.

Envestnet (NYSE:ENV) opened at 42.70 on Friday. Envestnet has a 12 month low of $30.80 and a 12 month high of $45.18. The stock’s market capitalization is $1.88 billion. The firm has a 50-day moving average price of $39.29 and a 200 day moving average price of $36.77.

In other news, Director Gayle A. Crowell sold 746 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $39.20, for a total value of $29,243.20. Following the sale, the director now owns 801 shares in the company, valued at $31,399.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles Roame bought 1,473 shares of the stock in a transaction dated Wednesday, May 31st. The stock was bought at an average price of $35.38 per share, for a total transaction of $52,114.74. Following the purchase, the director now directly owns 1,729 shares of the company’s stock, valued at $61,172.02. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 3,968 shares of company stock worth $145,287 and sold 32,972 shares worth $1,300,284. 7.80% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of ENV. D.A. Davidson & CO. increased its stake in shares of Envestnet by 13.0% in the second quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock worth $130,000 after buying an additional 379 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Envestnet during the first quarter worth approximately $116,000. Parallel Advisors LLC bought a new stake in shares of Envestnet during the first quarter worth approximately $131,000. Gradient Investments LLC bought a new stake in shares of Envestnet during the second quarter worth approximately $191,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Envestnet by 525.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock worth $204,000 after buying an additional 4,328 shares during the last quarter. Hedge funds and other institutional investors own 99.92% 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.

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