Envestnet, Inc (ENV) Expected to Earn Q3 2017 Earnings of $0.25 Per Share
Envestnet, Inc (NYSE:ENV) – Investment analysts at Jefferies Group issued their Q3 2017 EPS estimates for Envestnet in a research report issued to clients and investors on Tuesday. Jefferies Group analyst S. Thind anticipates that the business services provider will post earnings per share of $0.25 for the quarter. Jefferies Group has a “Buy” rating and a $65.00 price target on the stock. Jefferies Group also issued estimates for Envestnet’s Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $0.87 EPS and FY2018 earnings at $1.16 EPS.
A number of other research firms have also recently issued reports on ENV. Stifel Nicolaus restated a “buy” rating and set a $52.00 target price (up previously from $45.00) on shares of Envestnet in a research note on Thursday, August 10th. Zacks Investment Research cut shares of Envestnet from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Raymond James Financial, Inc. raised their target price on shares of Envestnet from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. DA Davidson initiated coverage on shares of Envestnet in a research note on Thursday, July 6th. They set a “neutral” rating and a $42.00 target price for the company. Finally, UBS AG restated a “buy” rating and set a $63.00 target price (up previously from $50.00) on shares of Envestnet in a research note on Monday, October 9th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Envestnet has an average rating of “Buy” and an average price target of $54.38.
Envestnet (ENV) opened at 53.30 on Friday. Envestnet has a 12 month low of $30.80 and a 12 month high of $55.15. The stock’s 50 day moving average is $49.93 and its 200-day moving average is $40.92. The firm’s market cap is $2.35 billion.
Envestnet (NYSE:ENV) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The company had revenue of $167.50 million for 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 firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS.
In other Envestnet news, Director Gayle A. Crowell sold 746 shares of Envestnet stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $39.20, for a total value of $29,243.20. Following the completion of the sale, the director now owns 801 shares in the company, valued at approximately $31,399.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joshua Mayer sold 1,500 shares of Envestnet stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $43.66, for a total transaction of $65,490.00. Following the completion of the sale, the chief operating officer now owns 13,796 shares of the company’s stock, valued at approximately $602,333.36. The disclosure for this sale can be found here. Insiders sold a total of 40,944 shares of company stock valued at $1,933,230 in the last quarter. Corporate insiders own 7.80% of the company’s stock.
Institutional investors have recently modified their holdings of the business. D.A. Davidson & CO. raised its stake in Envestnet by 13.0% in the 2nd quarter. D.A. Davidson & CO. now owns 3,286 shares of the business services provider’s stock worth $130,000 after purchasing an additional 379 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Envestnet in the 1st quarter worth about $116,000. Gradient Investments LLC acquired a new stake in Envestnet in the 2nd quarter worth about $191,000. BNP Paribas Arbitrage SA raised its stake in Envestnet by 525.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,151 shares of the business services provider’s stock worth $204,000 after purchasing an additional 4,328 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in Envestnet in the 2nd quarter worth about $219,000. Institutional investors and hedge funds own 95.51% 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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