Envestnet Inc (NYSE:ENV) Expected to Post Quarterly Sales of $227.38 Million

Wall Street analysts expect that Envestnet Inc (NYSE:ENV) will report sales of $227.38 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Envestnet’s earnings. The highest sales estimate is $228.50 million and the lowest is $226.77 million. Envestnet posted sales of $224.45 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.3%. The firm is expected to issue its next earnings results on Wednesday, August 5th.

On average, analysts expect that Envestnet will report full year sales of $953.82 million for the current fiscal year, with estimates ranging from $943.68 million to $975.72 million. For the next fiscal year, analysts expect that the business will report sales of $1.05 billion, with estimates ranging from $1.02 billion to $1.14 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Envestnet.

Envestnet (NYSE:ENV) last posted its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.12. The company had revenue of $246.50 million during the quarter, compared to analyst estimates of $242.32 million. Envestnet had a negative net margin of 0.66% and a positive return on equity of 8.94%. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share.

Several equities research analysts have commented on ENV shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $68.00 price objective on shares of Envestnet in a report on Sunday, May 10th. Stifel Nicolaus dropped their price objective on shares of Envestnet from $80.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, May 4th. JPMorgan Chase & Co. dropped their price objective on shares of Envestnet from $75.00 to $69.00 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. DA Davidson dropped their price objective on shares of Envestnet from $76.00 to $68.00 in a report on Friday, March 13th. Finally, Jefferies Financial Group upped their price objective on shares of Envestnet from $72.00 to $76.00 in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $74.50.

In related news, COO Joshua Mayer sold 2,017 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $74.04, for a total value of $149,338.68. Following the sale, the chief operating officer now directly owns 19,991 shares of the company’s stock, valued at $1,480,133.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Crager sold 9,094 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $55.67, for a total transaction of $506,262.98. Following the transaction, the chief executive officer now owns 244,395 shares in the company, valued at $13,605,469.65. The disclosure for this sale can be found here. Insiders sold 47,653 shares of company stock worth $3,284,644 over the last ninety days. 2.44% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ENV. Asset Management One Co. Ltd. bought a new position in shares of Envestnet in the first quarter worth approximately $33,000. Keebeck Wealth Management LLC bought a new position in shares of Envestnet in the fourth quarter worth approximately $47,000. Marshall Wace LLP bought a new position in shares of Envestnet in the first quarter worth approximately $50,000. NumerixS Investment Technologies Inc grew its holdings in shares of Envestnet by 102.7% in the fourth quarter. NumerixS Investment Technologies Inc now owns 900 shares of the business services provider’s stock worth $63,000 after purchasing an additional 456 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Envestnet by 19.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 967 shares of the business services provider’s stock worth $67,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

ENV traded up $0.08 during trading on Thursday, hitting $74.83. 229,377 shares of the company traded hands, compared to its average volume of 454,574. The firm has a market cap of $4.00 billion, a P/E ratio of -680.27 and a beta of 1.76. Envestnet has a one year low of $45.53 and a one year high of $87.75. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.79. The stock’s fifty day moving average is $72.19 and its 200 day moving average is $68.92.

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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Earnings History and Estimates for Envestnet (NYSE:ENV)

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