FY2018 EPS Estimates for Envestnet Inc Boosted by DA Davidson (ENV)

Envestnet Inc (NYSE:ENV) – DA Davidson lifted their FY2018 earnings per share (EPS) estimates for shares of Envestnet in a report released on Monday. DA Davidson analyst P. Heckmann now anticipates that the business services provider will post earnings of $1.16 per share for the year, up from their prior forecast of $1.14.

Envestnet (NYSE:ENV) last posted its 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. The firm had revenue of $175.61 million for the quarter, compared to analyst estimates of $171.57 million. Envestnet had a positive return on equity of 8.92% and a negative net margin of 8.15%. Envestnet’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share.

Several other research firms have also commented on ENV. Zacks Investment Research raised Envestnet from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Tuesday, October 10th. UBS Group reaffirmed a “buy” rating and set a $63.00 target price (up from $50.00) on shares of Envestnet in a report on Monday, October 9th. Royal Bank of Canada reaffirmed a “hold” rating and set a $48.00 target price on shares of Envestnet in a report on Thursday, October 5th. Jefferies Group raised their target price on Envestnet from $47.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, October 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $62.00 target price (up from $52.00) on shares of Envestnet in a report on Thursday, November 9th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $55.00.

Envestnet (ENV) traded up $1.55 during trading on Wednesday, reaching $54.00. The company had a trading volume of 267,101 shares, compared to its average volume of 225,800. The firm has a market capitalization of $2,390.00, a price-to-earnings ratio of -43.55, a price-to-earnings-growth ratio of 2.81 and a beta of 1.90. Envestnet has a 12-month low of $30.80 and a 12-month high of $55.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.90 and a current ratio of 0.90.

A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its position in shares of Envestnet by 559.6% in the second quarter. Janus Henderson Group PLC now owns 4,017,706 shares of the business services provider’s stock valued at $159,101,000 after acquiring an additional 3,408,580 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Envestnet by 5.8% in the second quarter. Vanguard Group Inc. now owns 3,454,623 shares of the business services provider’s stock valued at $136,803,000 after acquiring an additional 188,892 shares in the last quarter. BlackRock Inc. lifted its position in shares of Envestnet by 3.1% in the second quarter. BlackRock Inc. now owns 2,662,809 shares of the business services provider’s stock valued at $105,446,000 after acquiring an additional 81,056 shares in the last quarter. Wasatch Advisors Inc. lifted its position in shares of Envestnet by 3.0% in the second quarter. Wasatch Advisors Inc. now owns 1,985,952 shares of the business services provider’s stock valued at $78,644,000 after acquiring an additional 57,555 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in shares of Envestnet by 6.3% in the third quarter. Stephens Investment Management Group LLC now owns 1,434,756 shares of the business services provider’s stock valued at $73,173,000 after acquiring an additional 85,642 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

In other Envestnet news, President William Crager sold 5,000 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $53.31, for a total transaction of $266,550.00. Following the transaction, the president now owns 150,555 shares in the company, valued at $8,026,087.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shelly O’brien sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $50.00, for a total value of $150,000.00. The disclosure for this sale can be found here. Insiders have sold 287,585 shares of company stock worth $14,592,961 in the last quarter. 5.58% of the stock is currently owned by company insiders.

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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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