Brokerages Expect Envestnet Inc (NYSE:ENV) Will Post Quarterly Sales of $233.52 Million

Wall Street analysts expect Envestnet Inc (NYSE:ENV) to announce $233.52 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Envestnet’s earnings, with the highest sales estimate coming in at $234.40 million and the lowest estimate coming in at $231.30 million. Envestnet posted sales of $203.16 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.9%. The company is scheduled to issue its next earnings results on Wednesday, November 6th.

On average, analysts expect that Envestnet will report full year sales of $899.48 million for the current fiscal year, with estimates ranging from $895.20 million to $901.60 million. For the next financial year, analysts anticipate that the business will report sales of $1.02 billion, with estimates ranging from $1.01 billion to $1.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Envestnet.

Envestnet (NYSE:ENV) last announced its earnings results on Wednesday, August 7th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.02). Envestnet had a negative net margin of 1.72% and a positive return on equity of 9.15%. The company had revenue of $227.90 million during the quarter, compared to the consensus estimate of $225.34 million. During the same quarter in the prior year, the company earned $0.41 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis.

A number of research firms have weighed in on ENV. ValuEngine downgraded shares of Envestnet from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Raymond James lifted their price target on Envestnet from $82.00 to $83.00 and gave the company a “strong-buy” rating in a report on Thursday, July 11th. DA Davidson raised Envestnet from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Tuesday, October 1st. Finally, Zacks Investment Research lowered Envestnet from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $73.78.

In other Envestnet news, COO Joshua Mayer sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.82, for a total value of $34,910.00. Following the completion of the sale, the chief operating officer now owns 28,102 shares of the company’s stock, valued at $1,962,081.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Judson Bergman sold 15,000 shares of Envestnet stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $72.46, for a total value of $1,086,900.00. Following the transaction, the chief executive officer now directly owns 828,323 shares in the company, valued at approximately $60,020,284.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,956 shares of company stock worth $9,946,499. Insiders own 4.97% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Envestnet by 9.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,491,058 shares of the business services provider’s stock valued at $307,053,000 after purchasing an additional 384,026 shares during the period. GW&K Investment Management LLC bought a new stake in shares of Envestnet in the 2nd quarter valued at about $19,343,000. Nuveen Asset Management LLC bought a new stake in shares of Envestnet in the 2nd quarter valued at about $13,595,000. TimesSquare Capital Management LLC lifted its stake in shares of Envestnet by 31.0% in the 2nd quarter. TimesSquare Capital Management LLC now owns 620,765 shares of the business services provider’s stock valued at $42,442,000 after acquiring an additional 146,940 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its position in Envestnet by 21.1% during the 1st quarter. Champlain Investment Partners LLC now owns 766,335 shares of the business services provider’s stock valued at $50,111,000 after purchasing an additional 133,585 shares during the last quarter. Hedge funds and other institutional investors own 89.44% of the company’s stock.

ENV stock traded up $0.69 during midday trading on Wednesday, hitting $56.85. 460,965 shares of the company traded hands, compared to its average volume of 321,519. The business has a 50 day simple moving average of $57.57 and a 200-day simple moving average of $65.47. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 2.43 and a beta of 1.74. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.61. Envestnet has a twelve month low of $46.57 and a twelve month high of $73.94.

Envestnet Company Profile

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 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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