Envestnet (NYSE:ENV) released its earnings results on Thursday. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02, Briefing.com reports. Envestnet had a positive return on equity of 9.15% and a negative net margin of 1.72%. The business had revenue of $236.08 million for the quarter, compared to analyst estimates of $233.02 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. Envestnet’s revenue was up 16.2% on a year-over-year basis.
NYSE ENV traded up $1.24 during trading on Friday, reaching $64.44. 762,836 shares of the company’s stock were exchanged, compared to its average volume of 327,360. The business has a 50 day moving average price of $59.77 and a 200-day moving average price of $64.58. The stock has a market capitalization of $3.28 billion, a P/E ratio of 51.55, a PEG ratio of 2.80 and a beta of 1.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.54 and a quick ratio of 0.54. Envestnet has a fifty-two week low of $46.57 and a fifty-two week high of $73.94.
In other Envestnet news, insider William Crager sold 18,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $58.13, for a total transaction of $1,075,405.00. Following the transaction, the insider now owns 243,512 shares of the company’s stock, valued at $14,155,352.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Joshua Mayer sold 6,881 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $56.15, for a total value of $386,368.15. Following the transaction, the chief operating officer now directly owns 20,190 shares in the company, valued at approximately $1,133,668.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,375 shares of company stock worth $6,795,807. Company insiders own 4.97% of the company’s stock.
Several analysts recently issued reports on the company. DA Davidson upped their target price on Envestnet from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Friday. Buckingham Research dropped their target price on Envestnet from $71.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday. ValuEngine lowered Envestnet from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Zacks Investment Research lowered Envestnet from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Envestnet has a consensus rating of “Buy” and a consensus target price of $74.00.
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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