Zacks: Brokerages Anticipate Envestnet Inc (NYSE:ENV) Will Post Quarterly Sales of $233.76 Million

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.

Several research analysts have recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Envestnet to $71.00 and gave the company a “sector perform” rating in a research note on Thursday, May 9th. Zacks Investment Research lowered shares of Envestnet from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Raymond James raised their target price on shares of Envestnet from $82.00 to $83.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. lowered shares of Envestnet from an “overweight” rating to a “neutral” rating and raised their target price for the company from $71.00 to $73.00 in a research note on Thursday, May 9th. Finally, ValuEngine downgraded shares of Envestnet from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Envestnet currently has an average rating of “Buy” and an average price target of $73.30.

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.

About Envestnet

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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