Envestnet (NYSE:ENV) – Equities research analysts at Jefferies Group decreased their Q2 2018 earnings per share estimates for shares of Envestnet in a note issued to investors on Monday, May 21st. Jefferies Group analyst S. Thind now expects that the business services provider will earn $0.23 per share for the quarter, down from their prior estimate of $0.32. Jefferies Group also issued estimates for Envestnet’s Q3 2018 earnings at $0.34 EPS, Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.22 EPS and FY2019 earnings at $1.58 EPS.
Envestnet (NYSE:ENV) last announced its earnings results on Wednesday, May 9th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $198.00 million for the quarter, compared to analyst estimates of $194.00 million. During the same period in the previous year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 25.5% compared to the same quarter last year.
A number of other analysts have also issued reports on ENV. Zacks Investment Research lowered Envestnet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. ValuEngine raised Envestnet from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Sandler O’Neill reissued a “hold” rating and issued a $56.00 price objective on shares of Envestnet in a report on Tuesday, April 10th. One research 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 a consensus rating of “Hold” and an average target price of $55.11.
Shares of Envestnet opened at $54.90 on Thursday, according to Marketbeat.com. Envestnet has a 1 year low of $35.10 and a 1 year high of $60.28. The stock has a market cap of $2.38 billion, a PE ratio of 62.39, a price-to-earnings-growth ratio of 2.89 and a beta of 1.77. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.86 and a current ratio of 0.86.
In related news, insider Anil Arora sold 557 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $57.40, for a total value of $31,971.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Joshua Mayer sold 6,743 shares of the business’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $57.88, for a total value of $390,284.84. Following the completion of the sale, the chief operating officer now directly owns 49,089 shares of the company’s stock, valued at $2,841,271.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,157 shares of company stock valued at $3,304,543. 7.80% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Mckinley Capital Management LLC Delaware acquired a new position in Envestnet in the first quarter valued at approximately $119,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Envestnet by 133.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 1,591 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in Envestnet in the fourth quarter valued at approximately $175,000. Macquarie Group Ltd. acquired a new position in Envestnet in the fourth quarter valued at approximately $194,000. Finally, Psagot Investment House Ltd. acquired a new position in Envestnet in the first quarter valued at approximately $206,000. Institutional investors own 91.33% of the company’s stock.
Envestnet Company Profile
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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