Brokerages predict that Envestnet (NYSE:ENV) will post $199.41 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Envestnet’s earnings. The lowest sales estimate is $198.44 million and the highest is $200.60 million. Envestnet posted sales of $167.42 million during the same quarter last year, which would indicate a positive year over year growth rate of 19.1%. The company is expected to issue its next quarterly earnings report on Tuesday, August 14th.
On average, analysts expect that Envestnet will report full-year sales of $816.59 million for the current financial year, with estimates ranging from $815.50 million to $817.81 million. For the next financial year, analysts expect that the business will report sales of $894.81 million per share, with estimates ranging from $815.50 million to $927.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Envestnet.
Envestnet (NYSE:ENV) last released its earnings results on Wednesday, May 9th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Envestnet had a return on equity of 10.66% and a net margin of 2.48%. The firm had revenue of $198.00 million during the quarter, compared to analysts’ expectations of $194.00 million. During the same quarter last year, the business posted $0.25 earnings per share. The firm’s revenue was up 25.5% on a year-over-year basis.
ENV has been the subject of several research analyst reports. ValuEngine upgraded Envestnet from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Sandler O’Neill reiterated a “hold” rating and set a $56.00 target price on shares of Envestnet in a research report on Tuesday, April 10th. Finally, Zacks Investment Research cut Envestnet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $55.11.
Shares of NYSE:ENV traded down $1.95 during trading on Friday, hitting $53.30. 8,748 shares of the company’s stock were exchanged, compared to its average volume of 253,325. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.92. Envestnet has a 52-week low of $35.00 and a 52-week high of $60.28. The stock has a market capitalization of $2.53 billion, a P/E ratio of 61.59, a P/E/G ratio of 2.92 and a beta of 1.77.
In related news, CTO Scott D. Grinis sold 40,000 shares of the stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $59.75, for a total transaction of $2,390,000.00. Following the completion of the transaction, the chief technology officer now directly owns 205,340 shares of the company’s stock, valued at $12,269,065. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gayle A. Crowell sold 746 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $54.85, for a total value of $40,918.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,157 shares of company stock valued at $3,081,343. 5.49% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Envestnet by 1.0% during the fourth quarter. BlackRock Inc. now owns 2,699,362 shares of the business services provider’s stock valued at $134,564,000 after buying an additional 27,689 shares during the last quarter. Ashford Capital Management Inc. lifted its stake in shares of Envestnet by 32.7% in the 4th quarter. Ashford Capital Management Inc. now owns 320,340 shares of the business services provider’s stock valued at $15,969,000 after purchasing an additional 78,882 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Envestnet by 6.5% in the 4th quarter. California Public Employees Retirement System now owns 39,567 shares of the business services provider’s stock valued at $1,972,000 after purchasing an additional 2,411 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Envestnet by 133.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock valued at $139,000 after purchasing an additional 1,591 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in shares of Envestnet in the 4th quarter valued at approximately $458,000. 91.33% of the stock is owned by institutional investors.
Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services 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, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides 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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