Wall Street analysts expect that Envestnet, Inc (NYSE:ENV) will report $0.35 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Envestnet’s earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.34. Envestnet reported earnings of $0.28 per share in the same quarter last year, which would indicate a positive year over year growth rate of 25%. The firm is scheduled to issue its next earnings results on Monday, November 6th.
On average, analysts expect that Envestnet will report full-year earnings of $1.29 per share for the current fiscal year, with EPS estimates ranging from $1.25 to $1.33. For the next fiscal year, analysts expect that the business will report earnings of $1.59 per share, with EPS estimates ranging from $1.52 to $1.64. Zacks’ EPS averages are an average based on a survey of analysts that follow Envestnet.
Envestnet (NYSE:ENV) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Envestnet had a positive return on equity of 7.78% and a negative net margin of 8.93%. The firm had revenue of $167.50 million during the quarter, compared to the consensus estimate of $164.04 million. During the same quarter last year, the company posted $0.21 EPS. Envestnet’s revenue for the quarter was up 18.0% on a year-over-year basis.
ENV has been the subject of several analyst reports. BidaskClub raised shares of Envestnet from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. William Blair reissued a “buy” rating on shares of Envestnet in a report on Wednesday, June 28th. DA Davidson initiated coverage on shares of Envestnet in a report on Thursday, July 6th. They set a “neutral” rating and a $42.00 price target for the company. Zacks Investment Research upgraded shares of Envestnet from a “strong sell” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Tuesday, July 11th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $48.00 price objective on shares of Envestnet in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $45.50.
Shares of Envestnet (NYSE ENV) traded up 3.02% during mid-day trading on Tuesday, hitting $46.00. 346,074 shares of the stock were exchanged. Envestnet has a 1-year low of $30.80 and a 1-year high of $46.40. The company’s 50-day moving average is $41.92 and its 200-day moving average is $37.52. The firm’s market cap is $2.02 billion.
In other Envestnet news, insider Scott D. Grinis sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $39.21, for a total value of $588,150.00. Following the completion of the sale, the insider now owns 226,454 shares in the company, valued at approximately $8,879,261.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Peter D’arrigo sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $39.20, for a total transaction of $294,000.00. Following the completion of the sale, the chief financial officer now owns 19,976 shares of the company’s stock, valued at approximately $783,059.20. The disclosure for this sale can be found here. Insiders sold a total of 35,718 shares of company stock valued at $1,420,284 in the last 90 days. Corporate insiders own 5.58% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC acquired a new stake in shares of Envestnet during the 1st quarter worth approximately $376,000. Parametric Portfolio Associates LLC grew its position in shares of Envestnet by 116.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 77,580 shares of the business services provider’s stock worth $2,506,000 after buying an additional 41,761 shares during the period. Van Berkom & Associates Inc. grew its position in shares of Envestnet by 8.8% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,653,145 shares of the business services provider’s stock worth $65,465,000 after buying an additional 133,303 shares during the period. Geneva Advisors LLC grew its position in shares of Envestnet by 3.4% during the 2nd quarter. Geneva Advisors LLC now owns 42,659 shares of the business services provider’s stock worth $1,689,000 after buying an additional 1,385 shares during the period. Finally, Airain ltd acquired a new stake in shares of Envestnet during the 1st quarter worth approximately $266,000. Hedge funds and other institutional investors own 95.51% of the company’s stock.
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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