Equities research analysts predict that Envestnet Inc (NYSE:ENV) will post $239.68 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Envestnet’s earnings, with estimates ranging from $237.50 million to $241.51 million. Envestnet reported sales of $210.08 million during the same quarter last year, which indicates a positive year over year growth rate of 14.1%. The company is expected to announce its next earnings report on Thursday, February 20th.
According to Zacks, analysts expect that Envestnet will report full year sales of $905.24 million for the current year, with estimates ranging from $897.70 million to $908.37 million. For the next fiscal year, analysts forecast that the firm will report sales of $1.03 billion, with estimates ranging from $1.02 billion to $1.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Envestnet.
Envestnet (NYSE:ENV) last posted its earnings results on Thursday, November 7th. The business services provider reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Envestnet had a positive return on equity of 8.44% and a negative net margin of 2.35%. The business had revenue of $236.08 million during the quarter, compared to analysts’ expectations of $233.02 million. During the same period in the previous year, the business earned $0.53 earnings per share. The firm’s revenue was up 16.2% on a year-over-year basis.
In other Envestnet news, insider William Crager sold 72,750 shares of Envestnet stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $57.16, for a total transaction of $4,158,390.00. Following the completion of the sale, the insider now owns 297,054 shares of the company’s stock, valued at $16,979,606.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anil Arora sold 4,476 shares of Envestnet stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.90, for a total value of $290,492.40. Following the sale, the director now directly owns 28,104 shares of the company’s stock, valued at approximately $1,823,949.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,714 shares of company stock valued at $6,542,911. Corporate insiders own 4.97% of the company’s stock.
A number of hedge funds have recently modified their holdings of ENV. Marshall Wace LLP bought a new stake in Envestnet during the first quarter worth about $50,000. First Trust Advisors LP lifted its stake in shares of Envestnet by 8.5% in the 1st quarter. First Trust Advisors LP now owns 55,508 shares of the business services provider’s stock valued at $3,630,000 after acquiring an additional 4,339 shares during the last quarter. Zions Bancorporation N.A. lifted its stake in shares of Envestnet by 6.4% in the 2nd quarter. Zions Bancorporation N.A. now owns 4,209 shares of the business services provider’s stock valued at $288,000 after acquiring an additional 254 shares during the last quarter. Scout Investments Inc. lifted its stake in shares of Envestnet by 65.0% in the 2nd quarter. Scout Investments Inc. now owns 143,083 shares of the business services provider’s stock valued at $9,783,000 after acquiring an additional 56,358 shares during the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Envestnet in the 2nd quarter valued at about $224,000. 91.70% of the stock is owned by hedge funds and other institutional investors.
Envestnet stock opened at $64.96 on Friday. Envestnet has a 52 week low of $46.57 and a 52 week high of $73.94. The business has a 50-day simple moving average of $60.38 and a 200 day simple moving average of $64.40. The company has a quick ratio of 0.54, a current ratio of 0.46 and a debt-to-equity ratio of 0.56. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 51.97, a PEG ratio of 2.79 and a beta of 1.76.
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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