Envestnet (NYSE:ENV) posted its earnings results on Thursday. The business services provider reported $0.60 EPS for the quarter, topping the Thomson Reuters’ 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%. Envestnet’s revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the company earned $0.53 EPS.
Shares of NYSE ENV traded up $1.24 during midday trading on Friday, hitting $64.44. The stock had a trading volume of 762,836 shares, compared to its average volume of 327,360. The company’s 50-day simple moving average is $59.77 and its 200 day simple moving average is $64.58. The firm has a market cap of $3.28 billion, a P/E ratio of 51.55, a price-to-earnings-growth ratio of 2.80 and a beta of 1.76. Envestnet has a fifty-two week low of $46.57 and a fifty-two week high of $73.94. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.54 and a quick ratio of 0.54.
In other news, insider William Crager sold 18,500 shares of Envestnet stock in a transaction on Monday, August 12th. The stock was sold at an average price of $58.13, for a total value of $1,075,405.00. Following the completion of the sale, the insider now directly owns 243,512 shares of the company’s stock, valued at approximately $14,155,352.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Peter D’arrigo sold 5,000 shares of Envestnet stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $62.81, for a total value of $314,050.00. Following the completion of the sale, the chief financial officer now directly owns 57,747 shares of the company’s stock, valued at $3,627,089.07. The disclosure for this sale can be found here. Insiders sold a total of 117,375 shares of company stock valued at $6,795,807 over the last three months. Insiders own 4.97% of the company’s stock.
Several equities analysts recently commented on the company. DA Davidson raised their target price on Envestnet from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research downgraded Envestnet from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Buckingham Research cut their target price on Envestnet from $71.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday. Finally, ValuEngine downgraded 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, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Envestnet currently has a consensus rating of “Buy” and an average price target of $74.00.
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 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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