Zacks: Brokerages Expect Envestnet Inc (NYSE:ENV) Will Post Quarterly Sales of $239.68 Million

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.

About Envestnet

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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