Envestnet Inc (NYSE:ENV) – Analysts at Jefferies Group raised their Q1 2018 earnings estimates for Envestnet in a research note issued to investors on Wednesday. Jefferies Group analyst S. Thind now forecasts that the business services provider will earn $0.26 per share for the quarter, up from their previous estimate of $0.18. Jefferies Group has a “Buy” rating and a $65.00 price objective on the stock. Jefferies Group also issued estimates for Envestnet’s Q2 2018 earnings at $0.34 EPS, Q3 2018 earnings at $0.42 EPS, Q4 2018 earnings at $0.47 EPS, FY2018 earnings at $1.48 EPS and FY2019 earnings at $1.86 EPS.
Other research analysts have also recently issued reports about the company. William Blair reaffirmed an “ourperform” rating on shares of Envestnet in a research report on Tuesday, September 26th. Zacks Investment Research raised Envestnet from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, October 10th. UBS Group decreased their target price on Envestnet from $63.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 17th. JMP Securities lifted their target price on Envestnet from $48.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, September 26th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reissued a “hold” rating and set a $48.00 target price on shares of Envestnet in a research note on Thursday, October 5th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $55.00.
Envestnet (NYSE:ENV) last posted its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02. Envestnet had a positive return on equity of 8.92% and a negative net margin of 8.15%. The firm had revenue of $175.61 million for the quarter, compared to analysts’ expectations of $171.57 million. During the same period in the previous year, the firm earned $0.28 EPS. The business’s quarterly revenue was up 17.7% on a year-over-year basis.
In related news, insider Anil Arora sold 10,000 shares of the business’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $53.88, for a total transaction of $538,800.00. Following the completion of the transaction, the insider now owns 110,731 shares in the company, valued at approximately $5,966,186.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gayle A. Crowell sold 746 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $53.60, for a total value of $39,985.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 297,585 shares of company stock worth $15,131,761. Corporate insiders own 7.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. 1st Global Advisors Inc. lifted its holdings in shares of Envestnet by 1.1% in the 2nd quarter. 1st Global Advisors Inc. now owns 8,819 shares of the business services provider’s stock worth $349,000 after buying an additional 100 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Envestnet by 0.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 25,092 shares of the business services provider’s stock worth $994,000 after buying an additional 138 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Envestnet by 5.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock worth $150,000 after buying an additional 204 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Envestnet by 0.9% in the 2nd quarter. California Public Employees Retirement System now owns 34,906 shares of the business services provider’s stock worth $1,382,000 after buying an additional 300 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in shares of Envestnet by 13.0% in the 2nd 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 during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.
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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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