Envestnet (ENV) Updates FY19 Earnings Guidance

Envestnet (NYSE:ENV) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.05-2.12 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.07. The company issued revenue guidance of $868-880 million, compared to the consensus revenue estimate of $885.87 million.Envestnet also updated its FY 2019 guidance to $2.05-2.12 EPS.

A number of brokerages recently issued reports on ENV. Rosenblatt Securities began coverage on shares of Envestnet in a research report on Wednesday, December 5th. They issued a buy rating and a $65.00 target price for the company. ValuEngine lowered shares of Envestnet from a buy rating to a hold rating in a research report on Friday, January 4th. Zacks Investment Research lowered shares of Envestnet from a hold rating to a sell rating in a research report on Wednesday, January 16th. Buckingham Research began coverage on shares of Envestnet in a research report on Thursday, January 10th. They issued a buy rating and a $63.00 target price for the company. Finally, UBS Group decreased their target price on shares of Envestnet from $67.00 to $64.00 and set a buy rating for the company in a research report on Tuesday, January 8th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Envestnet has a consensus rating of Buy and an average target price of $63.56.

ENV traded down $0.89 on Thursday, reaching $55.56. The company had a trading volume of 311,908 shares, compared to its average volume of 209,698. The firm has a market capitalization of $2.60 billion, a PE ratio of 63.14, a P/E/G ratio of 2.27 and a beta of 1.81. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.57. Envestnet has a one year low of $46.57 and a one year high of $64.80.

In other news, COO Joshua Mayer sold 2,616 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $55.00, for a total transaction of $143,880.00. Following the completion of the transaction, the chief operating officer now owns 32,616 shares in the company, valued at approximately $1,793,880. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Anil Arora sold 567 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $54.74, for a total transaction of $31,037.58. Following the transaction, the insider now owns 64,745 shares of the company’s stock, valued at approximately $3,544,141.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,486 shares of company stock valued at $461,056. Insiders own 5.49% of the company’s stock.

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Envestnet Company Profile

Envestnet, Inc, together with its subsidiaries, provides intelligent systems for wealth management and financial wellness 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, as well as sells data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Tamarac that provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; Envestnet | Retirement Solutions, which offer a suite of services for advisor-sold retirement plans; and Envestnet | Portfolio Management Consultants that provide 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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