Envestnet Inc. Forecasted to Post FY2016 Earnings of $0.56 Per Share (ENV)
Envestnet Inc. (NYSE:ENV) – Equities research analysts at William Blair issued their FY2016 earnings estimates for shares of Envestnet in a report issued on Tuesday. William Blair analyst C. Shutler anticipates that the firm will post earnings per share of $0.56 for the year. William Blair also issued estimates for Envestnet’s Q4 2016 earnings at $0.24 EPS, Q3 2017 earnings at $0.26 EPS, Q4 2017 earnings at $0.30 EPS and FY2017 earnings at $1.03 EPS.
Several other equities analysts also recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Envestnet from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research raised shares of Envestnet from a “sell” rating to a “hold” rating in a research note on Tuesday, October 18th. Jefferies Group set a $48.00 price objective on shares of Envestnet and gave the company a “buy” rating in a research note on Tuesday, August 16th. RBC Capital Markets reissued a “sector perform” rating and set a $40.00 price objective (up previously from $37.00) on shares of Envestnet in a research note on Wednesday, August 10th. Finally, Avondale Partners downgraded shares of Envestnet from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 9th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Envestnet currently has an average rating of “Buy” and an average target price of $36.81.
Envestnet (NYSE:ENV) opened at 35.80 on Friday. The stock’s market cap is $1.53 billion. The firm has a 50-day moving average of $35.82 and a 200 day moving average of $35.91. Envestnet has a 12 month low of $19.30 and a 12 month high of $41.47.
Envestnet (NYSE:ENV) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Envestnet had a negative net margin of 4.97% and a positive return on equity of 3.91%. The company earned $149.20 million during the quarter, compared to analysts’ expectations of $147.01 million. During the same quarter last year, the company posted $0.25 EPS. The firm’s revenue was up 44.3% compared to the same quarter last year.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Envestnet by 233.3% in the first quarter. BlackRock Inc. now owns 4,093 shares of the company’s stock valued at $111,000 after buying an additional 2,865 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Envestnet by 113.8% in the third quarter. BNP Paribas Arbitrage SA now owns 3,448 shares of the company’s stock worth $126,000 after buying an additional 1,835 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Envestnet by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 5,343 shares of the company’s stock worth $178,000 after buying an additional 638 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Envestnet by 76.9% in the third quarter. Great West Life Assurance Co. Can now owns 5,306 shares of the company’s stock worth $193,000 after buying an additional 2,306 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Envestnet during the third quarter worth $195,000.
In other news, CEO Judson Bergman sold 20,000 shares of the stock in a transaction on Monday, September 26th. The shares were sold at an average price of $38.33, for a total value of $766,600.00. Following the completion of the sale, the chief executive officer now owns 669,106 shares of the company’s stock, valued at $25,646,832.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anil Arora sold 2,520 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $40.33, for a total transaction of $101,631.60. Following the completion of the sale, the director now directly owns 84,694 shares of the company’s stock, valued at approximately $3,415,709.02. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by insiders.
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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