Envestnet Inc (NYSE:ENV) – Investment analysts at DA Davidson raised their Q3 2018 earnings estimates for Envestnet in a research note issued to investors on Monday. DA Davidson analyst P. Heckmann now expects that the business services provider will post earnings per share of $0.30 for the quarter, up from their prior estimate of $0.29.
Several other equities analysts have also recently commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $62.00 price target (up previously from $52.00) on shares of Envestnet in a research report on Thursday, November 9th. UBS Group reduced their price target on shares of Envestnet from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, November 17th. Zacks Investment Research raised shares of Envestnet from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, October 10th. Jefferies Group raised their target price on shares of Envestnet from $47.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, October 17th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $48.00 target price on shares of Envestnet in a report on Thursday, October 5th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $55.00.
Shares of Envestnet (NYSE:ENV) traded down $0.10 during mid-day trading on Thursday, hitting $53.90. 193,993 shares of the stock traded hands, compared to its average volume of 203,127. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.63. Envestnet has a twelve month low of $30.80 and a twelve month high of $55.15. The company has a market capitalization of $2,392.51, a PE ratio of -43.82, a price-to-earnings-growth ratio of 2.91 and a beta of 1.91.
Envestnet (NYSE:ENV) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. Envestnet had a negative net margin of 8.15% and a positive return on equity of 8.92%. The business had revenue of $175.61 million for the quarter, compared to analysts’ expectations of $171.57 million. During the same quarter last year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 17.7% compared to the same quarter last year.
In other Envestnet news, insider Shelly O’brien sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $50.00, for a total value of $150,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Peter D’arrigo sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $48.11, for a total transaction of $962,200.00. The disclosure for this sale can be found here. Insiders sold 287,585 shares of company stock worth $14,592,961 in the last three months. 7.80% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ENV. D.A. Davidson & CO. increased its stake in shares of Envestnet by 13.0% in the second quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 379 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Envestnet by 5.7% in the second quarter. Ameritas Investment Partners Inc. now owns 3,782 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 204 shares during the period. Zions Bancorporation acquired a new stake in shares of Envestnet in the third quarter valued at approximately $181,000. Personal Capital Advisors Corp acquired a new stake in shares of Envestnet in the third quarter valued at approximately $203,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Envestnet by 525.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock valued at $204,000 after purchasing an additional 4,328 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.
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Envestnet Company Profile
Envestnet, Inc is a provider of financial and wealth management technology and services to financial advisors, investors and financial service providers. The Company’s segments are Envestnet and Envestnet Yodlee. Its Envestnet segment provides unified wealth management software and services empowering financial advisors and institutions.
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