Wall Street brokerages forecast that Envestnet Inc (NYSE:ENV) will report $0.50 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Envestnet’s earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.50. Envestnet posted earnings per share of $0.37 in the same quarter last year, which would suggest a positive year-over-year growth rate of 35.1%. The firm is expected to issue its next earnings report on Wednesday, November 14th.
On average, analysts expect that Envestnet will report full-year earnings of $1.88 per share for the current year, with EPS estimates ranging from $1.85 to $1.90. For the next financial year, analysts forecast that the firm will post earnings of $2.22 per share, with EPS estimates ranging from $2.20 to $2.25. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Envestnet.
Envestnet (NYSE:ENV) last issued its quarterly earnings results on Tuesday, August 7th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. Envestnet had a net margin of 2.50% and a return on equity of 10.75%. The firm had revenue of $201.12 million for the quarter, compared to analysts’ expectations of $199.52 million.
In other Envestnet news, Director Gayle A. Crowell sold 2,934 shares of the business’s stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $54.35, for a total value of $159,462.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shelly O’brien sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $54.23, for a total transaction of $216,920.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,685 shares of company stock valued at $1,580,888. 7.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC purchased a new stake in Envestnet during the 4th quarter valued at about $233,000. Macquarie Group Ltd. purchased a new stake in Envestnet during the 4th quarter valued at about $194,000. Envestnet Asset Management Inc. grew its position in Envestnet by 152.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,850 shares of the business services provider’s stock valued at $341,000 after purchasing an additional 4,139 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in Envestnet during the 4th quarter valued at about $225,000. Finally, Global X Management Co. LLC grew its position in Envestnet by 89.8% during the 1st quarter. Global X Management Co. LLC now owns 50,753 shares of the business services provider’s stock valued at $2,908,000 after purchasing an additional 24,015 shares during the last quarter. 91.67% of the stock is owned by institutional investors and hedge funds.
Envestnet remained flat at $$58.95 on Friday, according to MarketBeat Ratings. 250,110 shares of the company were exchanged, compared to its average volume of 302,254. Envestnet has a twelve month low of $38.00 and a twelve month high of $62.95. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 66.99, a P/E/G ratio of 3.34 and a beta of 1.81. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.86 and a current ratio of 1.41.
Envestnet, Inc, together with its subsidiaries, provides financial and wealth management software and services in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company's product and services suites include Envestnet | Enterprise, which provides an end-to-end open architecture wealth management platform, and sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end registered investment advisers; Envestnet | Retirement Solutions, which offers a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provides research, due diligence, and consulting services to assist advisors in creating investment solutions for their clients, and patented portfolio overlay and tax optimization services.
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