Envestnet (NYSE:ENV) announced its earnings results on Thursday. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02, Briefing.com reports. Envestnet had a negative net margin of 1.72% and a positive return on equity of 9.15%. The firm had revenue of $236.08 million for the quarter, compared to analyst estimates of $233.02 million. During the same quarter last year, the business earned $0.53 earnings per share. Envestnet’s revenue was up 16.2% compared to the same quarter last year.
Shares of ENV traded up $1.24 during mid-day trading on Friday, reaching $64.44. The company had a trading volume of 762,836 shares, compared to its average volume of 327,360. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 51.55, a price-to-earnings-growth ratio of 2.80 and a beta of 1.76. The firm has a fifty day simple moving average of $59.77 and a 200-day simple moving average of $64.58. Envestnet has a fifty-two week low of $46.57 and a fifty-two week high of $73.94. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.61.
A number of analysts recently issued reports on ENV shares. Zacks Investment Research lowered shares of Envestnet from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Buckingham Research decreased their target price on shares of Envestnet from $71.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday. DA Davidson raised their target price on shares of Envestnet from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday. Finally, ValuEngine lowered shares of Envestnet from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $74.00.
In other Envestnet news, insider William Crager sold 18,500 shares of Envestnet stock in a transaction on Monday, August 12th. The shares were sold at an average price of $58.13, for a total value of $1,075,405.00. Following the transaction, the insider now owns 243,512 shares in the company, valued at approximately $14,155,352.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Joshua Mayer sold 6,881 shares of Envestnet stock in a transaction on Friday, August 16th. The shares were sold at an average price of $56.15, for a total transaction of $386,368.15. Following the completion of the transaction, the chief operating officer now owns 20,190 shares in the company, valued at approximately $1,133,668.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,375 shares of company stock worth $6,795,807. 4.97% of the stock is owned by company insiders.
Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, as well as sells 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; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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