Wall Street analysts expect Envestnet, Inc (NYSE:ENV) to report sales of $171.60 million for the current quarter, Zacks reports. Five analysts have made estimates for Envestnet’s earnings. The lowest sales estimate is $171.00 million and the highest is $172.20 million. Envestnet posted sales of $149.16 million in the same quarter last year, which would indicate a positive year over year growth rate of 15%. The firm is expected to issue its next quarterly earnings results on Monday, November 6th.

According to Zacks, analysts expect that Envestnet will report full-year sales of $171.60 million for the current fiscal year, with estimates ranging from $670.20 million to $674.20 million. For the next year, analysts expect that the business will report sales of $766.08 million per share, with estimates ranging from $751.80 million to $776.98 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Envestnet.

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

ENV has been the topic of a number of research analyst reports. Royal Bank Of Canada restated a “hold” rating on shares of Envestnet in a research note on Monday. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of Envestnet in a report on Friday, July 14th. Zacks Investment Research upgraded Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Tuesday, July 11th. BidaskClub upgraded Envestnet from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, William Blair reiterated a “buy” rating on shares of Envestnet in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.50.

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Shares of Envestnet (NYSE ENV) opened at 46.55 on Thursday. The stock’s 50 day moving average price is $42.18 and its 200-day moving average price is $37.62. Envestnet has a 52 week low of $30.80 and a 52 week high of $46.65. The firm’s market capitalization is $2.05 billion.

In other news, insider Scott D. Grinis sold 15,000 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $39.21, for a total value of $588,150.00. Following the completion of the transaction, the insider now directly owns 226,454 shares in the company, valued at approximately $8,879,261.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Peter D’arrigo sold 7,500 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $39.20, for a total value of $294,000.00. Following the completion of the transaction, the chief financial officer now owns 19,976 shares of the company’s stock, valued at $783,059.20. The disclosure for this sale can be found here. Insiders sold a total of 35,718 shares of company stock valued at $1,420,284 over the last quarter. Company insiders own 7.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Ashford Capital Management Inc. boosted its holdings in Envestnet by 2.6% during the 2nd quarter. Ashford Capital Management Inc. now owns 240,496 shares of the business services provider’s stock valued at $9,524,000 after acquiring an additional 6,067 shares during the period. Wasatch Advisors Inc. boosted its holdings in Envestnet by 3.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,985,952 shares of the business services provider’s stock valued at $78,644,000 after acquiring an additional 57,555 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Envestnet by 6.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 44,618 shares of the business services provider’s stock valued at $1,767,000 after acquiring an additional 2,543 shares during the period. 1st Global Advisors Inc. boosted its holdings in Envestnet by 1.1% during the 2nd quarter. 1st Global Advisors Inc. now owns 8,819 shares of the business services provider’s stock valued at $349,000 after acquiring an additional 100 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its holdings in Envestnet by 5.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock valued at $150,000 after acquiring an additional 204 shares during the period. Hedge funds and other institutional investors own 95.51% of the company’s stock.

About Envestnet

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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