Jefferies Group Analysts Boost Earnings Estimates for Envestnet Inc. (ENV)
Envestnet Inc. (NYSE:ENV) – Analysts at Jefferies Group boosted their FY2016 earnings per share estimates for shares of Envestnet in a research note issued on Tuesday. Jefferies Group analyst S. Thind now anticipates that the firm will post earnings of $0.50 per share for the year, up from their prior estimate of $0.45. Jefferies Group currently has a “Buy” rating and a $48.00 target price on the stock. Jefferies Group also issued estimates for Envestnet’s Q4 2016 earnings at $0.19 EPS and FY2017 earnings at $0.86 EPS.
Envestnet (NYSE:ENV) last released its quarterly earnings results on Monday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $149.20 million for the quarter, compared to the consensus estimate of $147.01 million. Envestnet had a negative net margin of 4.97% and a positive return on equity of 3.91%. The business’s revenue was up 44.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS.
ENV has been the subject of several other research reports. Avondale Partners downgraded shares of Envestnet from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 9th. Royal Bank Of Canada upped their price target on shares of Envestnet from $37.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 9th. RBC Capital Markets reiterated a “sector perform” rating and issued a $40.00 price target (up previously from $37.00) on shares of Envestnet in a research report on Wednesday, August 10th. Zacks Investment Research upgraded shares of Envestnet from a “sell” rating to a “hold” rating in a research report on Tuesday, October 18th. Finally, Stifel Nicolaus upped their price target on shares of Envestnet from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 8th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $36.81.
Several institutional investors have recently made changes to their positions in ENV. EAM Investors LLC bought a new position in shares of Envestnet during the second quarter worth about $2,437,000. Tygh Capital Management Inc. increased its position in shares of Envestnet by 26.4% in the second quarter. Tygh Capital Management Inc. now owns 141,765 shares of the company’s stock worth $4,722,000 after buying an additional 29,599 shares in the last quarter. DIAM Co. Ltd. increased its position in shares of Envestnet by 12.9% in the second quarter. DIAM Co. Ltd. now owns 62,612 shares of the company’s stock worth $2,073,000 after buying an additional 7,148 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Envestnet during the second quarter worth about $11,412,000. Finally, Swiss National Bank increased its position in shares of Envestnet by 1.8% in the second quarter. Swiss National Bank now owns 63,100 shares of the company’s stock worth $2,102,000 after buying an additional 1,100 shares in the last quarter.
In other news, Director Anil Arora sold 2,520 shares of the stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $40.33, for a total value of $101,631.60. Following the completion of the transaction, the director now owns 84,694 shares in the company, valued at approximately $3,415,709.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Judson Bergman sold 20,000 shares of the stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $38.33, for a total transaction of $766,600.00. Following the completion of the transaction, the chief executive officer now owns 669,106 shares of the company’s stock, valued at approximately $25,646,832.98. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.
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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