Analysts forecast that Envestnet Inc (NYSE:ENV) will announce $233.76 million in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Envestnet’s earnings, with the lowest sales estimate coming in at $231.30 million and the highest estimate coming in at $234.95 million. Envestnet reported sales of $203.16 million during the same quarter last year, which indicates a positive year over year growth rate of 15.1%. The firm is expected to report its next earnings results on Wednesday, November 6th.
On average, analysts expect that Envestnet will report full-year sales of $901.74 million for the current financial year, with estimates ranging from $895.20 million to $910.46 million. For the next financial year, analysts forecast that the business will report sales of $1.03 billion, with estimates ranging from $1.01 billion to $1.06 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Envestnet.
Envestnet (NYSE:ENV) last issued its earnings results on Wednesday, August 7th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). The business had revenue of $227.90 million during the quarter, compared to the consensus estimate of $225.34 million. Envestnet had a negative net margin of 1.72% and a positive return on equity of 9.15%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $0.41 EPS.
Shares of NYSE ENV traded down $0.95 during mid-day trading on Friday, hitting $56.75. The company’s stock had a trading volume of 456,598 shares, compared to its average volume of 452,440. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 45.40, a price-to-earnings-growth ratio of 2.56 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.54 and a quick ratio of 0.54. Envestnet has a one year low of $46.57 and a one year high of $73.94. The company’s fifty day simple moving average is $66.52 and its 200-day simple moving average is $65.94.
In related news, Director Anil Arora sold 2,261 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $66.79, for a total value of $151,012.19. Following the sale, the director now directly owns 40,706 shares in the company, valued at approximately $2,718,753.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Crager sold 18,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $58.13, for a total transaction of $1,075,405.00. Following the sale, the insider now owns 243,512 shares in the company, valued at $14,155,352.56. The disclosure for this sale can be found here. Insiders sold a total of 140,445 shares of company stock worth $9,517,917 over the last quarter. 4.97% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in ENV. Norges Bank acquired a new stake in Envestnet during the 4th quarter worth approximately $25,851,000. TimesSquare Capital Management LLC acquired a new stake in Envestnet during the 1st quarter worth approximately $30,983,000. Vanguard Group Inc. raised its holdings in Envestnet by 9.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,491,058 shares of the business services provider’s stock worth $307,053,000 after buying an additional 384,026 shares during the period. GW&K Investment Management LLC acquired a new stake in Envestnet during the 2nd quarter worth approximately $19,343,000. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in Envestnet during the 1st quarter worth approximately $14,386,000. Hedge funds and other institutional investors own 88.09% of the company’s stock.
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 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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