Envestnet Inc (NYSE:ENV) – Research analysts at DA Davidson raised their FY2018 earnings estimates for Envestnet in a report released on Monday, according to Zacks Investment Research. DA Davidson analyst P. Heckmann now anticipates that the business services provider will post earnings of $1.38 per share for the year, up from their previous forecast of $1.16.
ENV has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed a “hold” rating on shares of Envestnet in a research note on Tuesday, November 7th. Zacks Investment Research raised shares of Envestnet from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a research note on Tuesday, January 9th. 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 note on Thursday, November 9th. Finally, UBS Group decreased their price target on shares of Envestnet from $63.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 17th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $55.00.
Envestnet (NYSE ENV) traded up $0.25 during mid-day trading on Thursday, hitting $55.85. 486,745 shares of the stock traded hands, compared to its average volume of 243,970. Envestnet has a 1 year low of $30.80 and a 1 year high of $57.85. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $2,516.57, a P/E ratio of 72.82, a PEG ratio of 2.83 and a beta of 1.96.
Envestnet (NYSE:ENV) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Envestnet had a negative net margin of 8.15% and a positive return on equity of 8.92%. The firm had revenue of $182.86 million for the quarter, compared to the consensus estimate of $179.20 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The company’s quarterly revenue was up 17.6% compared to the same quarter last year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Envestnet by 133.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock worth $139,000 after purchasing an additional 1,591 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings 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 worth $150,000 after purchasing an additional 204 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Envestnet in the fourth quarter worth about $175,000. Zions Bancorporation bought a new position in shares of Envestnet in the third quarter worth about $181,000. Finally, Macquarie Group Ltd. bought a new position in shares of Envestnet in the fourth quarter worth about $194,000. 91.36% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Peter D’arrigo sold 3,105 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $50.01, for a total value of $155,281.05. Following the sale, the chief financial officer now owns 31,270 shares of the company’s stock, valued at $1,563,812.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gayle A. Crowell sold 746 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $48.90, for a total transaction of $36,479.40. The disclosure for this sale can be found here. In the last three months, insiders sold 158,444 shares of company stock worth $8,029,142. Insiders own 7.80% of the company’s stock.
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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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