Envestnet (NYSE:ENV) Posts Earnings Results

Envestnet (NYSE:ENV) released its quarterly earnings results on Thursday. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02, Briefing.com reports. The business had revenue of $236.08 million during the quarter, compared to the consensus estimate of $233.02 million. Envestnet had a positive return on equity of 9.15% and a negative net margin of 1.72%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS.

NYSE ENV traded up $1.24 during trading hours on Friday, reaching $64.44. The company’s stock had a trading volume of 762,836 shares, compared to its average volume of 327,360. The firm’s 50-day moving average price is $59.77 and its 200-day moving average price is $64.58. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.61. Envestnet has a 1 year low of $46.57 and a 1 year high of $73.94. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 51.55, a PEG ratio of 2.80 and a beta of 1.76.

A number of research analysts recently issued reports on ENV shares. Buckingham Research cut their price objective on Envestnet from $71.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday. ValuEngine downgraded Envestnet from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Zacks Investment Research downgraded Envestnet from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, DA Davidson boosted their price objective on Envestnet from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $74.00.

In related news, CFO Peter D’arrigo sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $62.81, for a total value of $314,050.00. Following the transaction, the chief financial officer now directly owns 57,747 shares of the company’s stock, valued at approximately $3,627,089.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William Crager sold 9,094 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $59.45, for a total value of $540,638.30. Following the completion of the transaction, the chief executive officer now directly owns 232,788 shares in the company, valued at $13,839,246.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,375 shares of company stock worth $6,795,807. 4.97% of the stock is owned by insiders.

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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Earnings History for Envestnet (NYSE:ENV)

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