$191.70 Million in Sales Expected for Envestnet Inc (ENV) This Quarter
Analysts predict that Envestnet Inc (NYSE:ENV) will post $191.70 million in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Envestnet’s earnings, with estimates ranging from $178.40 million to $195.60 million. Envestnet posted sales of $157.79 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21.5%. The business is scheduled to issue its next earnings results on Wednesday, May 9th.
On average, analysts expect that Envestnet will report full year sales of $191.70 million for the current financial year, with estimates ranging from $768.10 million to $821.70 million. For the next fiscal year, analysts forecast that the company will report sales of $889.66 million per share, with estimates ranging from $815.50 million to $925.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Envestnet.
Envestnet (NYSE:ENV) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Envestnet had a positive return on equity of 9.93% and a negative net margin of 0.48%. The firm had revenue of $182.86 million for the quarter, compared to the consensus estimate of $179.20 million. During the same period in the prior year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year.
In other news, insider Anil Arora sold 557 shares of the stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $57.40, for a total value of $31,971.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shelly O’brien sold 3,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $50.00, for a total value of $150,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,116 shares of company stock valued at $4,476,226. Insiders own 7.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Envestnet by 133.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the business services provider’s stock valued at $139,000 after buying an additional 1,591 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Envestnet during the 4th quarter valued at approximately $175,000. Zions Bancorporation acquired a new stake in Envestnet during the 3rd quarter valued at approximately $181,000. Macquarie Group Ltd. acquired a new stake in Envestnet during the 4th quarter valued at approximately $194,000. Finally, First Republic Investment Management Inc. acquired a new stake in Envestnet during the 3rd quarter valued at approximately $204,000. Institutional investors and hedge funds own 93.05% of the company’s stock.
Envestnet (ENV) opened at $59.50 on Friday. Envestnet has a 12-month low of $30.80 and a 12-month high of $59.65. The firm has a market capitalization of $2,587.33, a PE ratio of -594.94, a P/E/G ratio of 2.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 0.93.
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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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