Envestnet (NYSE:ENV) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.59 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.59. The company issued revenue guidance of $209.5 million, compared to the consensus revenue estimate of $212.85 million.Envestnet also updated its guidance to EPS.
Several research firms have recently weighed in on ENV. Zacks Investment Research raised Envestnet from a sell rating to a hold rating in a report on Monday, August 13th. JPMorgan Chase & Co. reissued a buy rating on shares of Envestnet in a report on Wednesday, July 18th. TheStreet cut Envestnet from a b- rating to a c+ rating in a report on Wednesday, October 10th. Finally, UBS Group increased their price target on Envestnet from $62.00 to $68.00 and gave the company a buy rating in a report on Friday, August 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $63.50.
Shares of NYSE ENV traded up $1.32 during midday trading on Wednesday, hitting $52.80. 505,400 shares of the stock traded hands, compared to its average volume of 284,555. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 60.00, a PEG ratio of 2.93 and a beta of 1.89. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.41 and a quick ratio of 1.41. Envestnet has a one year low of $47.45 and a one year high of $64.80.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Wednesday, November 7th. The business services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. The firm had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $203.99 million. Envestnet had a return on equity of 10.75% and a net margin of 2.50%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 EPS. Equities research analysts anticipate that Envestnet will post 1.25 EPS for the current year.
In other news, CEO Judson Bergman sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $59.04, for a total value of $1,476,000.00. Following the completion of the sale, the chief executive officer now directly owns 730,673 shares in the company, valued at approximately $43,138,933.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joshua Mayer sold 5,398 shares of the company’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $59.44, for a total value of $320,857.12. Following the completion of the sale, the chief operating officer now owns 40,510 shares of the company’s stock, valued at $2,407,914.40. The disclosure for this sale can be found here. Insiders sold a total of 55,678 shares of company stock valued at $3,360,422 over the last 90 days. 5.49% of the stock is currently owned by company insiders.
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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 business 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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