Envestnet, Inc (ENV) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Envestnet, Inc (NYSE:ENV) posted its quarterly earnings data on Wednesday. The business services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02, Bloomberg Earnings reports. Envestnet had a positive return on equity of 8.93% and a negative net margin of 8.15%. The business had revenue of $175.61 million during the quarter, compared to analysts’ expectations of $171.57 million. During the same quarter in the previous year, the firm earned $0.28 EPS. The firm’s revenue was up 17.7% compared to the same quarter last year. Envestnet updated its Q4 guidance to $0.39 EPS.
Envestnet (ENV) traded down $1.85 during trading on Friday, reaching $51.25. The company’s stock had a trading volume of 13,801 shares, compared to its average volume of 270,286. Envestnet has a 12-month low of $30.80 and a 12-month high of $55.15. The firm has a market cap of $2,280.24, a PE ratio of 66.41, a price-to-earnings-growth ratio of 3.89 and a beta of 1.97. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.61 and a current ratio of 0.61.
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In other news, Director Gayle A. Crowell sold 746 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $44.45, for a total value of $33,159.70. Following the sale, the director now directly owns 801 shares in the company, valued at approximately $35,604.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Judson Bergman sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $53.21, for a total value of $1,064,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,964 shares of company stock worth $3,499,553. Corporate insiders own 7.80% of the company’s stock.
Several research firms recently weighed in on ENV. Stifel Nicolaus reissued a “buy” rating and set a $62.00 price objective (up previously from $52.00) on shares of Envestnet in a research report on Thursday. Royal Bank Of Canada reissued a “hold” rating on shares of Envestnet in a research report on Tuesday. Jefferies Group LLC boosted their price objective on Envestnet from $47.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Zacks Investment Research raised Envestnet from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Tuesday, October 10th. Finally, UBS AG reaffirmed a “buy” rating and issued a $63.00 price target (up previously from $50.00) on shares of Envestnet in a report on Monday, October 9th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $55.63.
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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