Envestnet Inc (NYSE:ENV) – Research analysts at DA Davidson upped their Q3 2018 earnings per share estimates for Envestnet in a research report issued to clients and investors on Monday. DA Davidson analyst P. Heckmann now anticipates that the business services provider will post earnings per share of $0.30 for the quarter, up from their previous forecast of $0.29.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.02. Envestnet had a negative net margin of 8.15% and a positive return on equity of 8.92%. The company had revenue of $175.61 million for the quarter, compared to the consensus estimate of $171.57 million. During the same period in the previous year, the firm earned $0.28 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis.

A number of other equities research analysts have also recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and issued a $62.00 price objective (up from $52.00) on shares of Envestnet in a research note on Thursday, November 9th. UBS Group lowered their price objective on Envestnet from $63.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 17th. Zacks Investment Research upgraded Envestnet from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, October 10th. Jefferies Group upped their price target on Envestnet from $47.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $48.00 price target on shares of Envestnet in a research report on Thursday, October 5th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Envestnet presently has a consensus rating of “Buy” and an average target price of $55.00.

Shares of Envestnet (NYSE ENV) traded up $0.35 during trading on Thursday, reaching $52.45. The company had a trading volume of 195,800 shares, compared to its average volume of 219,900. Envestnet has a fifty-two week low of $30.80 and a fifty-two week high of $55.15. The company has a market cap of $2,290.00, a PE ratio of -42.30, a P/E/G ratio of 2.81 and a beta of 1.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.63.

A number of institutional investors and hedge funds have recently modified their holdings of ENV. D.A. Davidson & CO. boosted its stake in 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 in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Envestnet by 5.7% during the second quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 204 shares during the period. Zions Bancorporation purchased a new stake in shares of Envestnet during the third quarter valued at approximately $181,000. Personal Capital Advisors Corp purchased a new stake in shares of Envestnet during the third quarter valued at approximately $203,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Envestnet by 525.9% during the second quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock valued at $204,000 after purchasing an additional 4,328 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

In related news, President William Crager sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $53.31, for a total value of $266,550.00. Following the transaction, the president now directly owns 150,555 shares in the company, valued at $8,026,087.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gayle A. Crowell sold 746 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $53.60, for a total transaction of $39,985.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 287,585 shares of company stock worth $14,592,961. 5.58% of the stock is owned by company insiders.

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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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