Envestnet, Inc (ENV) Expected to Post Earnings of $0.35 Per Share

Equities analysts expect that Envestnet, Inc (NYSE:ENV) will announce earnings of $0.35 per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Envestnet’s earnings. The lowest EPS estimate is $0.34 and the highest is $0.36. Envestnet reported earnings per share of $0.28 in the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The business is scheduled to announce its next earnings report on Monday, November 6th.

According to Zacks, analysts expect that Envestnet will report full year earnings of $1.29 per share for the current year, with EPS estimates ranging from $1.25 to $1.33. For the next fiscal year, analysts anticipate that the business will post earnings of $1.59 per share, with EPS estimates ranging from $1.52 to $1.64. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Envestnet.

Envestnet (NYSE:ENV) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $167.50 million during the quarter, compared to analyst estimates of $164.04 million. Envestnet had a negative net margin of 8.93% and a positive return on equity of 7.78%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 EPS.

Several research firms have recently weighed in on ENV. Stifel Nicolaus reiterated a “buy” rating and set a $52.00 price objective (up from $45.00) on shares of Envestnet in a research report on Thursday, August 10th. Royal Bank Of Canada reiterated a “hold” rating on shares of Envestnet in a research report on Monday, September 11th. Zacks Investment Research cut shares of Envestnet from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. DA Davidson began coverage on shares of Envestnet in a research report on Thursday, July 6th. They set a “neutral” rating and a $42.00 price objective for the company. Finally, BidaskClub cut shares of Envestnet from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. One investment 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. Envestnet has a consensus rating of “Hold” and a consensus target price of $45.50.

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Shares of Envestnet (NYSE:ENV) traded up 0.32% during mid-day trading on Tuesday, hitting $47.10. 430,716 shares of the company were exchanged. The firm’s market capitalization is $2.07 billion. The company’s 50-day moving average price is $42.78 and its 200-day moving average price is $37.81. Envestnet has a 12-month low of $30.80 and a 12-month high of $47.25.

In related news, insider Scott D. Grinis sold 15,000 shares of the stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $39.21, for a total transaction of $588,150.00. Following the transaction, the insider now directly owns 226,454 shares of the company’s stock, valued at $8,879,261.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Peter D’arrigo sold 7,500 shares of the stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $39.20, for a total transaction of $294,000.00. Following the transaction, the chief financial officer now directly owns 19,976 shares in the company, valued at $783,059.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,718 shares of company stock worth $1,420,284. 7.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ENV. Teachers Advisors LLC boosted its stake in Envestnet by 1.1% during the fourth quarter. Teachers Advisors LLC now owns 67,770 shares of the business services provider’s stock worth $2,389,000 after acquiring an additional 741 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Envestnet by 2.5% during the first quarter. Russell Investments Group Ltd. now owns 158,838 shares of the business services provider’s stock worth $5,130,000 after acquiring an additional 3,800 shares in the last quarter. Capital Fund Management S.A. bought a new position in Envestnet during the first quarter worth $1,253,000. Parametric Portfolio Associates LLC boosted its stake in Envestnet by 116.6% during the first quarter. Parametric Portfolio Associates LLC now owns 77,580 shares of the business services provider’s stock worth $2,506,000 after acquiring an additional 41,761 shares in the last quarter. Finally, Pioneer Investment Management Inc. bought a new position in Envestnet during the first quarter worth $2,807,000. 95.51% of the stock is currently owned by institutional investors and hedge funds.

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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