Wall Street analysts expect that Envestnet Inc (NYSE:ENV) will announce sales of $210.52 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Envestnet’s earnings. The lowest sales estimate is $210.00 million and the highest is $211.00 million. Envestnet posted sales of $182.86 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.1%. The business is scheduled to issue its next earnings report on Thursday, February 28th.
On average, analysts expect that Envestnet will report full-year sales of $812.97 million for the current fiscal year, with estimates ranging from $812.60 million to $813.30 million. For the next financial year, analysts anticipate that the company will post sales of $892.66 million, with estimates ranging from $873.40 million to $901.51 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Envestnet.
Envestnet (NYSE:ENV) last released its quarterly earnings data on Wednesday, November 7th. The business services provider reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.03. Envestnet had a return on equity of 11.32% and a net margin of 2.95%. The business had revenue of $203.20 million for the quarter, compared to analyst estimates of $203.99 million. During the same quarter in the prior year, the firm posted $0.37 EPS. The business’s quarterly revenue was up 15.7% compared to the same quarter last year.
ENV has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Envestnet from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Thursday, October 4th. TheStreet lowered Envestnet from a “b-” rating to a “c+” rating in a research report on Wednesday, October 10th. DA Davidson upgraded Envestnet from a “neutral” rating to a “buy” rating in a research report on Thursday, November 8th. JMP Securities decreased their target price on Envestnet from $76.00 to $67.00 and set a “market outperform” rating on the stock in a research report on Tuesday, November 13th. Finally, UBS Group increased their target price on Envestnet from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Envestnet has an average rating of “Buy” and a consensus target price of $64.43.
In other news, COO Joshua Mayer sold 2,606 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $55.00, for a total transaction of $143,330.00. Following the transaction, the chief operating officer now owns 35,771 shares in the company, valued at approximately $1,967,405. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President William Crager sold 12,000 shares of the stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $60.99, for a total value of $731,880.00. Following the transaction, the president now owns 212,252 shares in the company, valued at approximately $12,945,249.48. The disclosure for this sale can be found here. Insiders have sold a total of 19,662 shares of company stock worth $1,188,894 in the last quarter. Insiders own 7.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. acquired a new position in Envestnet in the 3rd quarter valued at $136,000. TRUE Private Wealth Advisors acquired a new position in Envestnet in the 3rd quarter valued at $169,000. Engineers Gate Manager LP acquired a new position in Envestnet in the 3rd quarter valued at $207,000. First Republic Investment Management Inc. acquired a new position in Envestnet in the 3rd quarter valued at $209,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Envestnet in the 2nd quarter valued at $203,000. 97.79% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ENV opened at $52.14 on Friday. Envestnet has a 1 year low of $48.38 and a 1 year high of $64.80. The company has a market cap of $2.43 billion, a PE ratio of 59.25, a price-to-earnings-growth ratio of 2.53 and a beta of 1.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.72 and a current ratio of 0.72.
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 business 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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