Equities analysts forecast that Envestnet Inc (NYSE:ENV) will announce sales of $239.68 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Envestnet’s earnings, with estimates ranging from $237.50 million to $241.51 million. Envestnet posted sales of $210.08 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.1%. The company is expected to report its next earnings results on Thursday, February 20th.
On average, analysts expect that Envestnet will report full year sales of $905.24 million for the current financial year, with estimates ranging from $897.70 million to $908.37 million. For the next year, analysts expect that the firm will post sales of $1.03 billion, with estimates ranging from $1.02 billion to $1.03 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Envestnet.
Envestnet (NYSE:ENV) last posted its earnings results on Thursday, November 7th. The business services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Envestnet had a negative net margin of 2.35% and a positive return on equity of 8.44%. The business had revenue of $236.08 million for the quarter, compared to analysts’ expectations of $233.02 million. During the same period in the previous year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year.
ENV has been the topic of a number of recent research reports. DA Davidson boosted 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, November 8th. Zacks Investment Research cut shares of Envestnet from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Buckingham Research cut their price target on shares of Envestnet from $71.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Finally, ValuEngine cut shares of Envestnet from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $74.00.
In other news, CFO Peter D’arrigo sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $62.81, for a total transaction of $314,050.00. Following the completion of the transaction, the chief financial officer now owns 57,747 shares in the company, valued at $3,627,089.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Crager sold 72,750 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $57.16, for a total transaction of $4,158,390.00. Following the transaction, the insider now owns 297,054 shares of the company’s stock, valued at approximately $16,979,606.64. The disclosure for this sale can be found here. Insiders have sold 110,714 shares of company stock worth $6,542,911 over the last three months. 4.97% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in ENV. Marshall Wace LLP bought a new position in Envestnet in the 1st quarter valued at about $50,000. First Trust Advisors LP boosted its position in shares of Envestnet by 8.5% during the 1st quarter. First Trust Advisors LP now owns 55,508 shares of the business services provider’s stock valued at $3,630,000 after purchasing an additional 4,339 shares in the last quarter. Zions Bancorporation N.A. boosted its position in shares of Envestnet by 6.4% during the 2nd quarter. Zions Bancorporation N.A. now owns 4,209 shares of the business services provider’s stock valued at $288,000 after purchasing an additional 254 shares in the last quarter. Scout Investments Inc. boosted its position in shares of Envestnet by 65.0% during the 2nd quarter. Scout Investments Inc. now owns 143,083 shares of the business services provider’s stock valued at $9,783,000 after purchasing an additional 56,358 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of Envestnet during the 2nd quarter valued at about $224,000. Institutional investors and hedge funds own 97.25% of the company’s stock.
Shares of NYSE ENV traded up $0.08 during trading on Friday, reaching $64.88. 346,532 shares of the stock were exchanged, compared to its average volume of 329,231. The business’s 50-day moving average price is $60.85 and its 200 day moving average price is $64.31. Envestnet has a twelve month low of $46.57 and a twelve month high of $73.94. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 51.90, a price-to-earnings-growth ratio of 2.77 and a beta of 1.76.
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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